David Round, an analyst from Stifel Nicolaus, maintained the Buy rating on Energean (ENOG – Research Report). The associated price target is p1,250.00.
David Round has given his Buy rating due to a combination of factors that highlight Energean’s strategic positioning and financial prospects. One of the key considerations is the proposed sale of Energean’s assets in Egypt, Italy, and Croatia to Carlyle, which, if completed, is expected to streamline the company’s operations and enhance cash flow. This transaction, while contingent on regulatory approvals, is designed to reduce liabilities and emissions, allowing Energean to focus on its core gas development strategy in Israel.
Even if the sale does not proceed, Energean is positioned to benefit from retaining cash-generative assets, which supports its commitment to a robust dividend policy. The company’s plan to return at least $1 billion by the end of 2025 further underscores its financial strength. Additionally, the potential upside to the price target of 32.9% reflects a positive outlook on Energean’s valuation, making the stock an attractive investment opportunity.
Based on the recent corporate insider activity of 21 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ENOG in relation to earlier this year.
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