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Eni SpA Message Board

  • yelyacs yelyacs Jul 24, 2012 2:10 PM Flag

    nibble

    three straight gap down days, today on high volume, indicating big holders want out, Italian ADR's all getting killed today. Throwing the baby oil major out with the bathwater??

    32 looks like support on chart so I started nibbling today, sold a feb 35 put for $3- over double the divi in comparable amount of time with less risk than buying shares here. Fits the bill for the conservative income generating part of myy portfolio. I'll simply roll it forward if it becomes ITM to sustain income until price recovers

    keeping lots of dry powder though, who knows where bottom is

    E's pros: low P/B, hi divi yield, reasonable P/E, strong reserve replacement ratio, relatively low leverage/capitalization ratio indicating prudent management?

    cons: margins been compressing, although still decent relative to other oil majors; high debt to cash ratio likely made worse by agreement with repsol to finance offshore fields; its an Italian stock! lol; 1/3 of shares owned by Italy gov could lead to political risk??

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E
48.60-0.73(-1.48%)Sep 19 4:08 PMEDT

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