5 Best Natural Resources Stocks to Buy Now

3. Eni S.p.A. (NYSE:E)

On May 25, 2026, Eni S.p.A. (NYSE:E) and partners Petroci and Vitol approved the final investment decision for the Baleine Phase 3 project. Eni called the approval a “significant milestone”. The full-field Phase 3 development is expected to increase oil production from 60,000 to 150,000 barrels per day and gas output from 80 to 200 million cubic feet per day. CEO Claudio Descalzi said Baleine reflects Eni’s exploration and production model, including fast-track phased development and a focus on sustainability.

Last month, BNP Paribas upgraded Eni S.p.A. (NYSE:E) to Outperform from Neutral with a $64.30 price target. BNP Paribas said Eni has delivered on its strategic objectives over the past two years and has high cash flow exposure to higher oil prices.

Meanwhile, Citi raised the firm’s price target on Eni S.p.A. (NYSE:E) to EUR 24 from EUR 20.50 and maintained a Neutral rating on the shares. Citi said the Middle East conflict could lower the cost of equity for oil and gas stocks and create “structural re-engagement” from the investment community. Citi named TotalEnergies, ConocoPhillips, and BP as its top picks.

Eni S.p.A. (NYSE:E) operates as an integrated energy company across Italy, the rest of Europe, the United States, Asia, Africa, and international markets.