Eni sees $7B investment in Angola over next four years

  • Eni says it plans to spend $7B in Angola over the next four years along with its joint venture partners on exploration and production, refining and solar energy, in a country it considers a key to its future growth strategy.
  • The plans reportedly were discussed in a meeting between Angolan President Joao Lourenco and Eni CEO Claudio Descalzi.
  • Eni produces ~120K boe/day in Angola, where it also is building a solar power plant expected to start operating next year.
  • The company also says it made a new light oil discovery in its offshore Block 15/06, where it has discovered more than 2B boe since 2018.

    For this year the company, based in Rome revenue will be around 61.33 billion euros. This is according to the average of the analysts' estimates. This is hugely more than 2020's revenue of 43.99 billion euros.

    Historical revenues and results Eni plus estimates 2020

    beurskoers

    The analysts expect for 2021 a net profit of 2.49 billion euros. For this year most of the analysts expect a profit per share of 73 cent. Based on this the price/earnings-ratio is 14.01.

    Huge dividend Eni

    Per share the analysts are expecting a dividend of 65 cents per share. Eni 's dividend yield thus equals 6.35 percent. The average dividend yield of the oil & gas producers equals an attractive 3.08 percent.

    Based on the current number of shares Eni 's market capitalization equals 36.53 billion euros. The Eni stock was the past 12 months quite unstable. Since last April the stock is 19 percent higher. This year the stock price moved between 6 and 11 euro.

    Historical stock prices Eni

    stock analysis eni

    At 17.17 the stock trades 2.48 percent higher at 10.23 euros.

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