Eni Sells Alaskan Upstream Assets To Hilcorp In Strategic Streamlining: Details
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 27 2024
0mins
Source: Benzinga
- Eni S.p.A. Asset Sale: Eni finalized an agreement to sell complete ownership of Nikaitchuq and Oooguruk assets in Alaska to Hilcorp, with the transaction value to be disclosed later.
- Eni's Strategic Moves: The asset sale aligns with Eni's strategy to streamline upstream activities, rebalance its portfolio, and divest non-strategic assets.
- Financial Strategy: Eni aims for a net portfolio inflow of around $8.5 billion over the 2024-27 Plan by upgrading the Upstream portfolio and accessing new capital pools.
- Investment Considerations: Investors may consider factors like revenue growth and valuation when deciding to buy a stock, with Eni showing strong revenue growth and a forward P/E ratio of 7.11.
- Stock Performance: Eni's shares were up 1.55% at $30.82, with important metrics like profitability, balance sheet, and valuation compared to peers being crucial for analysis.
Analyst Views on E
Wall Street analysts forecast E stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for E is 18.24 USD with a low forecast of 17.25 USD and a high forecast of 19.23 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
3 Analyst Rating
1 Buy
2 Hold
0 Sell
Moderate Buy
Current: 38.780
Low
17.25
Averages
18.24
High
19.23
Current: 38.780
Low
17.25
Averages
18.24
High
19.23
About E
Eni SpA (Eni) is an Italy-based company engaged in the exploration, development and production of hydrocarbons, in the supply and marketing of gas, liquefied natural gas (LNG) and power, in the refining and marketing of petroleum products, in the production and marketing of basic petrochemicals, plastics and elastomers and in commodity trading. The Company's segments include Exploration & Production, Gas & Power, and Refining & Marketing. Its Exploration & Production segment engages in oil and natural gas exploration and field development and production, as well as LNG operations in over 40 countries, including Italy, Libya, Egypt, Norway, the United Kingdom, Angola, Congo, Nigeria, the United States, Kazakhstan, Algeria, Australia, Venezuela, Iraq, Ghana and Mozambique. Its Gas & Power segment engages in supply, trading and marketing of gas, LNG and electricity, international gas transport activities and commodity trading and derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
