ENI (NYSE:E) Shares Gap Up - Should You Buy?

Eni S.p.A. (NYSE:E - Get Free Report) gapped up before the market opened on Friday . The stock had previously closed at $28.61, but opened at $29.36. ENI shares last traded at $29.36, with a volume of 15,531 shares changing hands.

Analyst Ratings Changes

E has been the topic of a number of recent analyst reports. UBS Group lowered shares of ENI from a "buy" rating to a "neutral" rating in a research report on Wednesday, January 8th. Morgan Stanley reissued an "equal weight" rating and set a $31.60 price target (down from $37.50) on shares of ENI in a research report on Tuesday, January 7th. Finally, StockNews.com lowered shares of ENI from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Seven equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, ENI has an average rating of "Hold" and a consensus target price of $31.60.

ENI Trading Up 3.2 %

The firm has a market cap of $49.84 billion, a P/E ratio of 17.68, a price-to-earnings-growth ratio of 1.86 and a beta of 0.90. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $28.57 and its 200 day simple moving average is $29.51.

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ENI Cuts Dividend

The business also recently disclosed a -- dividend, which will be paid on Monday, April 7th. Shareholders of record on Tuesday, March 25th will be given a $0.3549 dividend. This represents a yield of 5.1%. The ex-dividend date of this dividend is Tuesday, March 25th. ENI's dividend payout ratio is 83.63%.

Institutional Trading of ENI

Hedge funds have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC bought a new stake in shares of ENI in the third quarter valued at approximately $212,000. Crossmark Global Holdings Inc. raised its position in shares of ENI by 50.8% in the third quarter. Crossmark Global Holdings Inc. now owns 108,821 shares of the oil and gas exploration company's stock valued at $3,298,000 after purchasing an additional 36,646 shares during the period. Oppenheimer Asset Management Inc. raised its position in shares of ENI by 5.9% in the third quarter. Oppenheimer Asset Management Inc. now owns 10,853 shares of the oil and gas exploration company's stock valued at $329,000 after purchasing an additional 608 shares during the period. Natixis Advisors LLC raised its position in shares of ENI by 12.8% in the third quarter. Natixis Advisors LLC now owns 2,546,312 shares of the oil and gas exploration company's stock valued at $77,179,000 after purchasing an additional 288,968 shares during the period. Finally, Caprock Group LLC raised its position in shares of ENI by 3.9% in the third quarter. Caprock Group LLC now owns 9,025 shares of the oil and gas exploration company's stock valued at $279,000 after purchasing an additional 336 shares during the period. Institutional investors own 1.18% of the company's stock.

About ENI

Eni SpA engages in the exploration, production, refining, and sale of oil, gas, electricity, and chemicals. It operates through the following segments: Exploration and Production, Global Gas and LNG Portfolio, Refining & Marketing and Chemicals, Power & Renewables, and Corporate and Other Activities.