Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Eni, the Italian energy giant, has reported its 2025 fourth-quarter and full-year financial results, highlighting robust performance and strategic advances across its business segments.</li><li>The company, led by CEO Claudio Descalzi, emphasized several key achievements and ongoing strategic initiatives as it navigates a complex global energy landscape.</li><li>In 2025, Eni developed and executed its distinctive strategy effectively, often exceeding original targets.</li></ul>

Eni, the Italian energy giant, has reported its 2025 fourth-quarter and full-year financial results, highlighting robust performance and strategic advances across its business segments.The company, led by CEO Claudio Descalzi, emphasized several key achievements and ongoing strategic initiatives as it navigates a complex global energy landscape.In 2025, Eni developed and executed its distinctive strategy effectively, often exceeding original targets.

Eni Is Advancing Carbon Capture Technology Amid Rising Carbon Prices — Could CCS Become a Powerful Profit Driver?

<ul><li>Eni's third quarter 2025 results demonstrate a robust execution of its strategic initiatives, reflecting a significant enhancement in its operational and financial performance across multiple business segments.</li><li>A year-on-year production growth of 8.5% underscores the company's focus on its upstream operations, alongside developments in emerging energy sectors.</li><li>Key achievements include the successful commencement of production in Azule Energy’s Agogo West Hub in Angola and significant progress in several satellite start-ups, contributing to a notable production increase.</li></ul>

Eni's third quarter 2025 results demonstrate a robust execution of its strategic initiatives, reflecting a significant enhancement in its operational and financial performance across multiple business segments.A year-on-year production growth of 8.5% underscores the company's focus on its upstream operations, alongside developments in emerging energy sectors.Key achievements include the successful commencement of production in Azule Energy’s Agogo West Hub in Angola and significant progress in several satellite start-ups, contributing to a notable production increase.

Eni S.p.A. Expands Its FLNG Empire—A Bold Push into Next-Gen Energy Export!

<ul><li>Eni's recent financial performance and strategic movements highlight a well-rounded approach to growth and diversification within the energy sector.</li><li>Focusing primarily on upstream operations, the company has demonstrated tangible growth in production and resource acquisition.</li><li>In the first half of 2025, Eni discovered approximately 600 million barrels of oil equivalent in new resources, with significant activity in Namibia, Ivory Coast, and Norway.</li></ul>

Eni's recent financial performance and strategic movements highlight a well-rounded approach to growth and diversification within the energy sector.Focusing primarily on upstream operations, the company has demonstrated tangible growth in production and resource acquisition.In the first half of 2025, Eni discovered approximately 600 million barrels of oil equivalent in new resources, with significant activity in Namibia, Ivory Coast, and Norway.

Eni S.p.A.: Growth in Renewable Energy Capacity & Strategic LNG Developments Powering Our Optimism!

<ul><li>Eni's recent results and strategic updates reveal both strengths and challenges that should be considered in an investment thesis.</li><li>The quarter showcased significant strides in line with the company's strategic objectives, focused on expanding upstream capabilities and enhancing its transition business.</li><li>Positively, Eni reported an increase in net income to EUR 1.4 billion, reflecting a notable 60% rise quarter-on-quarter.</li></ul>

Eni's recent results and strategic updates reveal both strengths and challenges that should be considered in an investment thesis.The quarter showcased significant strides in line with the company's strategic objectives, focused on expanding upstream capabilities and enhancing its transition business.Positively, Eni reported an increase in net income to EUR 1.4 billion, reflecting a notable 60% rise quarter-on-quarter.

Eni Taps Cyprus for Next Big Gas Play—Is Egypt the Key to Europe’s Energy Future?

Oil and Gas, Mint Finance

Suhas Reddy

Oil and Gas

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>For the week ending 30/May, U.S. crude inventories fell by 4.3m barrels (vs. expectations of a 2.9m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.</li>
<li>The EIA reported a 122 Bcf storage build, while analysts forecasted a 111 Bcf increase. Storage levels are 4.7% above the five-year average but 10% below year-ago levels.</li>
<li>JPMorgan sees Reliance earnings rebounding on better margins; Saudi Aramco cuts Asia crude prices after OPEC+ supply hike.</li>
</ul>


For the week ending 30/May, U.S. crude inventories fell by 4.3m barrels (vs. expectations of a 2.9m barrel decline). Meanwhile, gasoline and distillate stockpiles rose more than expected.
The EIA reported a 122 Bcf storage build, while analysts forecasted a 111 Bcf increase. Storage levels are 4.7% above the five-year average but 10% below year-ago levels.
JPMorgan sees Reliance earnings rebounding on better margins; Saudi Aramco cuts Asia crude prices after OPEC+ supply hike.


[ETP 2025/23] WTI Rises on Supply Disruptions, Henry Hub Gains on Summer Demand Outlook

Italy

Eni SpA explores for and produces hydrocarbons in Italy, Africa, the North Sea, the Gulf of Mexico, Kazakhstan, and Australia. The Company both produces natural gas and imports it for sale in Italy and elsewhere in Europe. Eni transports natural gas in pipelines. The Company generates and trades electricity, refines oil, and operates gasoline service stations.

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Eni SpA (E US)

Eni Is Advancing Carbon Capture Technology Amid Rising Carbon Prices — Could CCS Become a Powerful Profit Driver?

Eni, the Italian energy giant, has reported its 2025 fourth-quarter and full-year financial results, highlighting robust performance and strategic...

Baptista Research

Eni S.p.A. Expands Its FLNG Empire—A Bold Push into Next-Gen Energy Export!

Eni's third quarter 2025 results demonstrate a robust execution of its strategic initiatives, reflecting a significant enhancement in its...

Baptista Research

Eni S.p.A.: Growth in Renewable Energy Capacity & Strategic LNG Developments Powering Our Optimism!

Eni's recent financial performance and strategic movements highlight a well-rounded approach to growth and diversification within the energy...

Baptista Research

Eni Taps Cyprus for Next Big Gas Play—Is Egypt the Key to Europe’s Energy Future?

Eni's recent results and strategic updates reveal both strengths and challenges that should be considered in an investment thesis. The quarter...

Baptista Research

[ETP 2025/23] WTI Rises on Supply Disruptions, Henry Hub Gains on Summer Demand Outlook

US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. EIA reports storage build slightly above forecast....

Mint Finance

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Eni Is Advancing Carbon Capture Technology Amid Rising Carbon Prices — Could CCS Become a Powerful Profit Driver?

Eni, the Italian energy giant, has reported its 2025 fourth-quarter and full-year financial results, highlighting robust performance and strategic...

Baptista Research

Eni S.p.A. Expands Its FLNG Empire—A Bold Push into Next-Gen Energy Export!

Eni's third quarter 2025 results demonstrate a robust execution of its strategic initiatives, reflecting a significant enhancement in its...

Baptista Research

Eni S.p.A.: Growth in Renewable Energy Capacity & Strategic LNG Developments Powering Our Optimism!

Eni's recent financial performance and strategic movements highlight a well-rounded approach to growth and diversification within the energy...

Baptista Research

Eni Taps Cyprus for Next Big Gas Play—Is Egypt the Key to Europe’s Energy Future?

Eni's recent results and strategic updates reveal both strengths and challenges that should be considered in an investment thesis. The quarter...

Baptista Research

[ETP 2025/23] WTI Rises on Supply Disruptions, Henry Hub Gains on Summer Demand Outlook

​US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. EIA reports storage build slightly above forecast....

Mint Finance

US crude inventories fell more than expected, while gasoline and distillate stockpiles rose. EIA reports storage build slightly above forecast....