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Eni SpA ADR E Stock Quote

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Morningstar‘s Stock Analysis E

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Eni Q3 Earnings Remain Strong, but No Change to Shareholder Return Plans

Allen Good, CFA Sector Strategist

Analyst Note

| Allen Good, CFA |

Eni reported third-quarter adjusted net earnings of EUR 3.7 billion compared with adjusted net earnings of EUR 1.4 billion the year prior. The improvement was a result of higher oil and gas prices, which aided the E&P segment. Our fair value estimate and moat rating are unchanged.

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Key Statistics E

Company Profile E

Business Description

Eni is an integrated oil and gas company that explores for, produces, and refines oil around the world. In 2021, the company produced 0.8 million barrels of liquids and 4.6 billion cubic feet of natural gas per day. At end-2021, Eni held reserves of 6.6 billion barrels of oil equivalent, 49% of which are liquids. The Italian government owns a 30.1% stake in the company. Eni is placing its renewable and low-carbon business in a separate entity, Plentitude; it plans to list publicly in 2022.

1, Piazzale Enrico Mattei
Rome, 00144, Italy
T +39 252061632
Sector Energy
Industry Oil & Gas Integrated
Most Recent Earnings Sep 30, 2022
Fiscal Year End Dec 31, 2022
Employees 32,562

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