6. Eni SpA 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 7.6% during the first half of 2011, due to better operating performance reported by the exploration and production segment. Adjusted net income for the period was up 4% over the first half of 2010, resulting from a lower group tax rate and better operating performance. Operating cash flow stood at $6 billion at the end of the second quarter and was used to fund capital expenditure and repay net borrowings from the December quarter of 2010. The stock is trading with a P/E ratio of 6.3 based on estimated 2011 earnings. On average, analysts expect shares to rise 53% over the next year. Sixty percent of analysts covering the stock have buy ratings on it.