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Eni S.p.A. (NYSE:E) shares are trading higher after the company finalized a binding agreement with Hilcorp to sell complete ownership of the Nikaitchuq and Oooguruk assets in Alaska. The value of the transaction will be announced upon its closing.
This transaction aligns with Eni’s strategy to streamline upstream activities, rebalance its portfolio, and divest non-strategic assets.
Eni’s financial framework supports its growth-oriented strategy, aiming for a front-end loaded net portfolio inflow of ~$8.5 billion (8 billion euros) over the 2024-27 Plan.
The company plans to achieve this by upgrading the Upstream portfolio, reducing high equity ownership in exploration discoveries, and accessing new capital pools.
The completion of this transaction is contingent upon obtaining regulatory approvals and fulfilling customary terms and conditions.
Last month, Eni planned to spin off interest in high-potential oil and gas projects, including Indonesia and Ivory Coast.
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
Eni has reported average annual revenue growth of 18.36% over the past 5 years. .
It's also important to pay attention to valuation when deciding whether to buy a stock. Eni has a forward P/E ratio of 7.11. This means investors are paying $7.11 for each dollar of expected earnings in the future. The average forward P/E ratio of Eni's peers is 8.43.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.
Price Action: E shares are up 1.55% at $30.82 at the last check Thursday.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
