|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||12.81 - 12.81|
|52-week range||12.70 - 17.10|
|Beta (3Y monthly)||0.88|
|PE ratio (TTM)||13.40|
|Forward dividend & yield||0.82 (6.45%)|
|1y target est||N/A|
(Bloomberg) -- Eni SpA reported second-quarter profit that missed analysts’ estimates, though production held steady and output-growth targets were confirmed.Adjusted net income dropped 27% from a year earlier to 562 million euros ($626.5 million), falling well short of the 935.2 million-euro average estimate of analysts. Production slipped just 2%.Key InsightsThe profit figure reflects a lower operating performance and a “notably” higher tax rate year-on-year in upstream operations, according to Jason Kenney, an analyst at Banco Santander SA.Production in the quarter was curtailed by a shutdown at the giant Kashagan field in Kazakhstan and by maintenance in Norway.However, output is seen rising as four projects start and ramp up in the second half -- in Algeria, Egypt, Mexico and Norway -- according to Mediobanca analyst Alessandro Pozzi.Know MoreNet cash from operations rose 49% from a year earlier to 4.52 billion euros. That in part reflects an additional dividend paid by Var Energi AS, the Norwegian oil company majority-owned by Eni.Cash may be set to rise further, with Eni expected to report stronger results in the second half, RBC Capital Markets said before the release.Production totaled 1.83 million barrels of oil equivalent a day in the quarter. Eni confirmed its 2019 target for output growth of 2% to 2.5%.For further details, click here.To contact the reporter on this story: Chiara Albanese in Rome at email@example.comTo contact the editors responsible for this story: Chad Thomas at firstname.lastname@example.org, Amanda JordanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The consortium exploring the Kekra-1 well off the coast of Pakistan is ending drilling operations after no reserves of oil and gas were found, a spokesman for Oil and Gas Development Co Ltd, one of the Pakistani partners, said. "The oil exploration well will be plugged and abandoned," said Ahmed Lak, spokesman for state-owned OGDC, part of the group behind the exploration led by Italy's Eni SpA which included Exxon Mobile Corp and Pakistan Petroleum Ltd. No comment was immediately available from Eni, which has operated the exploration licence under a deal signed in 2012.
A high-dividend yield is enticing, but there are too many negatives surrounding Italian oil giant ENI. Here's what they are, and here are two alternatives.
A three-judge panel found the lower court miscalculated damages because it used a standby rate to determine what Eni would have paid Transocean to complete the contract. It sent the damages decision back to the District Court to recalculate damages based on what work the rig could have performed. Transocean declined to comment on the ruling.
On a per-share basis, the Rome-based company said it had profit of 32 cents. Earnings, adjusted for non-recurring costs, were 94 cents per share. The energy company posted revenue of $22.89 billion in ...
Eni (E) seems to be a good value pick, as it has decent revenue metrics to back up its earnings, and is seeing solid earnings estimate revisions as well.
Eni (E) inks agreement with Mubadala Petroleum relating to the sale of a 20% participating interest of its share in the Nour North Sinai Offshore concession.