Eni has lifted its treasury stock to 5.18% of share capital as the Italian energy group presses ahead with a buyback that has already swallowed almost 1.58 billion euros and become a meaningful support for the shares.
Eni lifts treasury stock to 5.18% after buybacks
The company said it bought 620,714 shares on Sept. 14 on Euronext Milan at a weighted average price of 24.1657 euros apiece, for about 15 million euros, under the second tranche of the program approved by shareholders on May 6. Since the buyback began on May 8, Eni has repurchased 69,995,483 shares, equal to 2.31% of capital, while total treasury shares now stand at 156,823,590.
Sentiment Indicators
For investors, the significance is twofold: the program reduces the free float and can mechanically boost per-share metrics, while also signaling that management sees enough cash generation to return capital aggressively even as the energy market remains volatile. Eni shares were last up at 23.57 euros in Milan, extending gains from the prior session.
The stock has also been trading well above its 50-day moving average in recent weeks, with standard technical indicators showing a still-strong but more orderly setup after a sharp run earlier this year. That matters because buybacks can reinforce momentum in a name that has already seen heavy trading interest, even as global markets remain sensitive to oil prices and Treasury yield swings.
The next market test will be whether Eni keeps the pace of repurchases into the final stages of the program and whether the company opts to add further returns of capital alongside the buyback.
| Entity | Gains | Losses |
|---|---|---|
| Eni shareholders | ▲Higher EPS support | ▼Less cash on balance sheet |
| Eni management | ▲Capital-return credibility | ▼Reduced financial flexibility |
| Long investors | ▲Buyback-backed demand | ▼Risk of slower future purchases |
| Short sellers | ▲None | ▼Tighter float, steadier support |
