5. Eni SpA ( E) is an Italy-based energy major with activities ranging from oil and gas exploration and production, gas marketing, management of gas infrastructure, power generation, petrochemicals and oil field services. Adjusted operating profit was up 18.4% during the first quarter of 2011, due to better operating performance reported by the exploration and production segment. Adjusted net income for the period was up 22% over the first quarter of 2010 as a result of lower tax rate and better operating performance. Operating cash flows stood at $5.9 billion at the end of the first quarter and were used to fund capital expenditure of $4.05 billion and to pay down net borrowings, which were down by $1.65 billion from December quarter to $35.2 billion. The stock is trading at seven times its estimated 2011 earnings with an estimated 38% upside over the next one year. The stock has 60% analyst buy ratings.
In trading on Thursday, shares of TransAtlantic Petroleum Ltd entered into oversold territory, changing hands as low as $6.00 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100.
Shares of TransAtlantic Petroleum (AMEX:TAT) were gapping down Friday morning with an open price 12.5% lower than Thursday's closing price. The stock closed at $1.28 yesterday and opened today's trading at $1.12.