Eni is engaged in the oil and gas exploration and production, gas marketing operations, management of gas infrastructures, power generation, petrochemicals, oil field services and engineering industries. Co.'s operations are divided into three segments; Exploration and Production (oil and natural gas exploration and field development and production, as well as LNG operations), Gas and Power (supply, trading and marketing of gas and electricity, managing gas infrastructures for transport, distribution, storage, re-gasification, and LNG supply and marketing), and Refining and Marketing (supply of crude oil, refining and marketing of refined products). Co. maintains operations in 73 countries.
  • TickerENI
  • ISINIT0003132476
  • SectorOil & Gas Producers
  • CountryItaly
Ahmed Ben Salem

ODDO : Q3 2020 preview: a timorous recovery

>Q3 2020 indicators: oil price picks up but refining margins in the red - The publication of Q3 2020 results kicks off on Monday 26 October (see table below), and whilst they should be significantly better than the chaotic Q2, they are likely to remain very weak. Cumulative net earnings for the six groups in our coverage are expected to be $ 669m vs -$ 7.7bn in Q2 2020 and $ 12.1bn in Q3 2019. We do not expect the quarter to be marked by asset impairments, as was th...

Ahmed Ben Salem

ODDO : Preview T3 2020 – Une reprise timide

>Indicateurs T3 2020 : reprise du prix du pétrole mais marges de raffinage dans le rouge - Les publications de résultats du T3 2020 commencent le jeudi 27 octobre (voir tableau ci-après), en nette amélioration par rapport à un T2 chaotique mais restent toutefois très faibles. Le résultat net cumulé pour les six compagnies couvertes est à -699 M$ M$ vs -7.7 Md$ au T2 2020 et 12.1 Md$ au T3 2019. Ce trimestre ne sera pas marqué par les dépréciations d’actifs comme le ...

Ahmed Ben Salem ...
  • Louis Boujard, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10 Dear clients, We are very pleased to officially announce a partnership agreement between our group and BBVA in equity brokerage. In adding a new domestic market to its platform, ODDO BHF is looking t

With 40% upside, Eiffage is our Top Pick in the construction/concessions sector: whilst the contracting business should prove resilient thanks to alternative growth drivers (the “France Relance” stimulus plan in particular) and leverage on margins, cash flow generation (+35% estimated between 2019 and 2022) will be supported by higher dividends from motorway concessions. The group has 15 years to find an alternative to APRR and we have already identified numerous potential M&A possibi...

Matthieu DRIOL

Short term view - ENI : Prices recovered.

The trend is uncertain. Prices have recovered but the trend lacks power for the time being. The next resistance is at €16.668.

Matthieu DRIOL

Analyse court terme - ENI : Les cours se sont repris.

La tendance est incertaine. Les cours se sont repris, mais la tendance manque de puissance pour le moment. La prochaine résistance est à 16,668 €.

Matthieu DRIOL

Short term view - ENI : Falling prices.

The trend is uncertain. Prices are falling, but the trend is lacking power for the time being. The next support is at €14.713.

Matthieu DRIOL

Analyse court terme - ENI : Les cours baissent.

La tendance est incertaine. Les cours baissent, mais la tendance manque de puissance pour le moment. Le prochain support est à 14,713 €.

Matthieu DRIOL

Medium term view - ENI : The background trend is clearly bullish.

The background trend is clearly bullish. The correction is gaining traction. It is too early to qualify this action as a bearish reversal. The trend would be invalidated below the support at €14.243.

ENI: 1 director bought

A director at ENI bought 22,000 shares at 7.390EUR and the significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board members a...

Ahmed Ben Salem

ODDO : Q3 2020 preview: a timorous recovery

>Q3 2020 indicators: oil price picks up but refining margins in the red - The publication of Q3 2020 results kicks off on Monday 26 October (see table below), and whilst they should be significantly better than the chaotic Q2, they are likely to remain very weak. Cumulative net earnings for the six groups in our coverage are expected to be $ 669m vs -$ 7.7bn in Q2 2020 and $ 12.1bn in Q3 2019. We do not expect the quarter to be marked by asset impairments, as was th...

Ahmed Ben Salem

ODDO : Preview T3 2020 – Une reprise timide

>Indicateurs T3 2020 : reprise du prix du pétrole mais marges de raffinage dans le rouge - Les publications de résultats du T3 2020 commencent le jeudi 27 octobre (voir tableau ci-après), en nette amélioration par rapport à un T2 chaotique mais restent toutefois très faibles. Le résultat net cumulé pour les six compagnies couvertes est à -699 M$ M$ vs -7.7 Md$ au T2 2020 et 12.1 Md$ au T3 2019. Ce trimestre ne sera pas marqué par les dépréciations d’actifs comme le ...

Ahmed Ben Salem

ODDO : IEA report – fragile recovery

>Demand sustained, but with a good deal of uncertainty - Global demand rose by 16.2 Mb/d at end August from its low point in April, but is still 6.8 Mb/d below its historic level. Preliminary data for September show that recovery is continuing but is much more timorous (360 kb/d), with an increase in demand in India but a slowdown in the US and Europe with the arrival of the second COVID-19 wave and restrictions on movement. The IEA has thus left its 2020 and 2021...

Ahmed Ben Salem

ODDO : Rapport AIE – Une reprise fragile

>Une demande maintenue mais avec beaucoup d’incertitudes - La demande mondiale a augmenté de 16.2 Mb/j à fin août depuis son point bas du mois d’avril mais reste toujours 6.8 Mb/j inférieure à son niveau historique. Les données préliminaires du mois de septembre font apparaitre une poursuite de la reprise beaucoup plus timide (350 kb/j) avec une hausse de la demande en Inde mais un ralentissement aux USA et en Europe avec la résurgence d’une deuxième vague de COVID...

Research Department

INFORME DIARIO 07 OCTUBRE (ANÁLISIS BANCO SABADELL)

COMPAÑÍAS QUE APARECEN EN EL INFORME. ESPAÑA: ACCIONA, ACERINOX, CAF, CAMBIOS IBEX 35, TALGO. EUROPA: DAIMLER, DANONE, INFORME ANUAL EURO STOXX 50. Powell pide un acuerdo fiscal La buena apertura de EE.UU. animó más aún a Europa después de que J. Powell advirtiese que la recuperación sería más rápida y fuerte si la política fiscal estuviese más coordinada con la monetaria. El value superó claramente al growth y los cíclicos a los defensivos a ambos lados del Atlántico pero EE.UU finalmente cerró en negativo después de que Trump ordenase la suspensión de las negociaciones del paquete fiscal ha...

Expert Corporate Governance Service (ECGS)

Eni – AGM 13 May 2020

In item 2, the Board proposes to distribute a total dividend of €0.86 per share on 2019 results, +3.6% in respect to the dividend paid on 2018 results, despite the 96.4% decrease in reported net income (-37.2% in adjusted net income). Total dividend distribution will amount to approximately €3'078 million, and it is not covered by consolidated net earnings or free cash flow. In view of the recent events relating to Covid-19, ECGS is in favour of postponing decisions on the dividend, reductions or suspensions that would allow companies to avoid liquidity risks or not generate risk for their sur...

Expert Corporate Governance Service (ECGS)

Eni - AGM 14 May 2019

In item 3, the Board asks the authorization to repurchase up to 67 million own shares (1.8%). The proposal is made in accordance with Eni's 2019-2022 shareholder remuneration policy, providing for a share buyback program capped at an aggregate value of € 400 million, if oil prices are in the range from USD 60 to USD 65 per barrel, or € 800 million in a scenario of oil prices above USD 65 per barrel. At the 2020 AGM, the Board will ask for the authorization to cancel the shares repurchased under the current authorization. The terms of the authorization are in line with our guidelines (maximum 1...

Eni SPA – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

Expert Corporate Governance Service (ECGS)

Proxy Report - 10/05/2018

In item 3, shareholders are called to an advisory vote on the remuneration policy adopted by the Company for executive Directors and other executives with strategic responsibilities. The level of disclosure is high, as all performance conditions are disclosed, including the ex-post disclosure of the level of achievement of targets, and targets related to the performance share plan are quantified. We regret that the maximum variable remuneration exceeds out voting policy limit of 300% of the base salary (the CEO's variable remuneration is capped at 477% of his base salary, of which 146% linked ...

Moody's assigns Baa3 rating to Eni's proposed hybrid issuance

Rating Action: Moody's assigns Baa3 rating to Eni's proposed hybrid issuance. Global Credit Research- 05 Oct 2020. Frankfurt am Main, October 05, 2020-- Moody's Investors Service, has today assigned a Baa3 rating to the proposed junior subordinated notes to be issued by Eni S.p.A..

Eni S.p.A. - June 2020 (LTM): Peer Snapshot

Peer Snapshot:  Eni S.p.A. - June 2020 (LTM) 3 September 2020 (in US millions) FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM Jun-20 FYE Dec-18 FYE Dec-19 LTM

Eni S.p.A. - March 2020 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Eni S.p.A.: Update to credit analysis

Our credit view of Eni S.p.A., reflecting its stronger upstream performance and conservative financial policy, constrained its links with the Government of Italy.

Eni S.p.A. - December 2019 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Ahmed Ben Salem ...
  • Louis Boujard, CFA

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 10 Dear clients, We are very pleased to officially announce a partnership agreement between our group and BBVA in equity brokerage. In adding a new domestic market to its platform, ODDO BHF is looking t

With 40% upside, Eiffage is our Top Pick in the construction/concessions sector: whilst the contracting business should prove resilient thanks to alternative growth drivers (the “France Relance” stimulus plan in particular) and leverage on margins, cash flow generation (+35% estimated between 2019 and 2022) will be supported by higher dividends from motorway concessions. The group has 15 years to find an alternative to APRR and we have already identified numerous potential M&A possibi...

Ahmed Ben Salem ...
  • Louis Boujard, CFA

ODDO BHF Small & MIDCAP MORNING NEWS - 10/15/2020

...

Ahmed Ben Salem ...
  • Louis Boujard, CFA

Total : Chers clients, Nous sommes très heureux de vous annoncer l’officialisation d’un accord de partenariat entre notre Groupe et BBVA dans les métiers de l’intermédiation actions. En ajoutant un nouveau marché domestique à sa plateforme, ODDO BHF souha

Avec 40% de potentiel, Eiffage est notre valeur préférée dans le secteur construction / concessions : alors que l’activité Travaux devrait s’avérer résiliente grâce aux relais de croissance (France Relance notamment) et au levier sur les marges, la génération de cash-flow (+35%e entre 2019 et 2022) va être soutenue par la hausse des dividendes des concessions autoroutières. Le groupe dispose de 15 ans pour trouver une alternative à APRR avec d’ores et déjà de nombreuses opportunités d...

Increased risk weighs on ENI, penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of ENI (IT), active in the Integrated Oil & Gas industry. As regards its fundamental valuation, the title still shows 2 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date April 17, 2020, the closing price was EUR 8.59 and its target price was estimated at EUR 7.68.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the we...

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