Royal Bank of Canada Cuts Stake in Eni SpA by 78%
Royal Bank of Canada has reduced its position in Eni SpA (NYSE:E) by 78% during the first quarter, according to a recent Form 13F filing with the Securities & Exchange Commission. The institutional investor sold 44,729 shares of Eni's stock and now owns 12,596 shares worth $713,000 at the end of the most recent quarter.
A number of other hedge funds have also made changes to their positions in Eni during the second quarter. AQR Capital Management LLC boosted its stake by 3.4%, JPMorgan Chase & Co. increased its holdings by 60.7%, and Russell Investments Group Ltd. lifted its position by 60.7%.
Analysts have issued various ratings for Eni's stock, with one research analyst giving a Strong Buy rating and six assigning a Buy rating. The consensus target price for the company is $42.30, according to data from MarketBeat.com.