Ensco PLC (ESV) Trading Up 6.3% Following Analyst Upgrade
Ensco PLC (NYSE:ESV) was up 6.3% during trading on Wednesday after Clarkson Capital upgraded the stock from a sell rating to a neutral rating. The company traded as high as $7.74 and last traded at $7.72, with a volume of 5,547,902 shares traded. The stock had previously closed at $7.26.
A number of other brokerages have also commented on ESV. Howard Weil started coverage on shares of Ensco PLC in a report on Wednesday, September 14th. They set an “outperform” rating and a $10.00 price objective on the stock. Zacks Investment Research raised shares of Ensco PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. raised shares of Ensco PLC from a “neutral” rating to a “buy” rating and set a $10.50 price objective on the stock in a report on Wednesday, September 21st. Jefferies Group reissued a “hold” rating on shares of Ensco PLC in a report on Sunday, July 10th. Finally, Evercore ISI reissued a “buy” rating on shares of Ensco PLC in a report on Wednesday, June 29th. Seven research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $11.98.
Several institutional investors have recently added to or reduced their stakes in ESV. Norges Bank bought a new position in Ensco PLC during the fourth quarter worth approximately $44,067,000. Texas Permanent School Fund boosted its position in Ensco PLC by 186.1% in the first quarter. Texas Permanent School Fund now owns 236,843 shares of the offshore drilling services provider’s stock worth $2,456,000 after buying an additional 154,060 shares during the period. Virginia Retirement System bought a new position in Ensco PLC during the first quarter worth approximately $990,000. Check Capital Management Inc. CA boosted its position in Ensco PLC by 13.6% in the first quarter. Check Capital Management Inc. CA now owns 25,935 shares of the offshore drilling services provider’s stock worth $269,000 after buying an additional 3,100 shares during the period. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its position in Ensco PLC by 108.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,200,610 shares of the offshore drilling services provider’s stock worth $12,450,000 after buying an additional 625,996 shares during the period. 85.81% of the stock is owned by institutional investors and hedge funds.
The company’s market capitalization is $2.46 billion. The company has a 50-day moving average price of $7.75 and a 200-day moving average price of $9.59.
Ensco PLC (NYSE:ESV) last posted its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, topping the consensus estimate of $0.53 by $1.51. The company earned $910 million during the quarter, compared to the consensus estimate of $746.55 million. Ensco PLC had a positive return on equity of 10.06% and a negative net margin of 39.67%. The firm’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.11 EPS. Equities analysts predict that Ensco PLC will post $1.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, September 16th. Stockholders of record on Friday, September 2nd were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, August 31st. This represents a $0.04 annualized dividend and a dividend yield of 0.49%. Ensco PLC’s payout ratio is -0.60%.
Ensco PLC Company Profile
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.
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