Eni SpA (NYSE:E)’s share price fell 1.2% during mid-day trading on Wednesday . The company traded as low as $31.37 and last traded at $31.69, with a volume of 276,298 shares. The stock had previously closed at $32.06.

A number of research firms recently issued reports on E. Zacks Investment Research lowered Eni SpA from a “hold” rating to a “sell” rating in a report on Thursday, July 14th. Collins Stewart restated a “hold” rating on shares of Eni SpA in a research report on Thursday, May 12th. Societe Generale downgraded shares of Eni SpA from a “buy” rating to a “hold” rating in a research report on Monday, May 2nd. Finally, Vetr upgraded shares of Eni SpA from a “sell” rating to a “hold” rating and set a $28.96 price objective for the company in a research report on Monday, April 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $25.99.

The stock’s 50 day moving average price is $31.57 and its 200-day moving average price is $29.89. The company’s market capitalization is $57.15 billion.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Comerica Bank raised its position in Eni SpA by 4.5% in the fourth quarter. Comerica Bank now owns 99,498 shares of the oil and gas exploration company’s stock valued at $2,741,000 after buying an additional 4,240 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Eni SpA by 4,579.2% in the fourth quarter. PNC Financial Services Group Inc. now owns 114,032 shares of the oil and gas exploration company’s stock valued at $3,398,000 after buying an additional 111,595 shares in the last quarter. Finally, Morgan Stanley raised its position in Eni SpA by 27.9% in the fourth quarter. Morgan Stanley now owns 931,766 shares of the oil and gas exploration company’s stock valued at $27,767,000 after buying an additional 203,315 shares in the last quarter.

Eni SpA (Eni) is engaged in oil and gas exploration, development and production, marketing of gas, electricity and liquefied natural gas (LNG), power generation, refining and marketing of petroleum products, production and marketing of petrochemical products, commodity trading and oilfield services and engineering industries.

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