Cornerstone Investment Partners LLC Has $19,737,000 Position in Ensco PLC (ESV)
Cornerstone Investment Partners LLC lowered its stake in shares of Ensco PLC (NYSE:ESV) by 24.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,322,042 shares of the offshore drilling services provider’s stock after selling 761,857 shares during the period. Cornerstone Investment Partners LLC owned about 0.77% of Ensco PLC worth $19,737,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in the stock. LS Investment Advisors LLC increased its stake in Ensco PLC by 129.7% in the second quarter. LS Investment Advisors LLC now owns 18,466 shares of the offshore drilling services provider’s stock valued at $179,000 after buying an additional 10,426 shares during the last quarter. IBM Retirement Fund increased its stake in Ensco PLC by 29.5% in the second quarter. IBM Retirement Fund now owns 30,461 shares of the offshore drilling services provider’s stock valued at $296,000 after buying an additional 6,936 shares during the last quarter. Hartford Investment Management Co. bought a new stake in Ensco PLC during the second quarter valued at $190,000. First Quadrant L P CA bought a new stake in Ensco PLC during the second quarter valued at $220,000. Finally, Fox Run Management L.L.C. increased its stake in Ensco PLC by 40.3% in the second quarter. Fox Run Management L.L.C. now owns 18,800 shares of the offshore drilling services provider’s stock valued at $183,000 after buying an additional 5,400 shares during the last quarter. 87.81% of the stock is owned by institutional investors.
Ensco PLC (NYSE:ESV) traded down 0.94% during midday trading on Monday, hitting $8.41. The stock had a trading volume of 6,758,742 shares. The firm has a 50-day moving average price of $8.30 and a 200-day moving average price of $8.89. Ensco PLC has a 1-year low of $6.50 and a 1-year high of $17.51. The firm’s market capitalization is $2.53 billion.
Ensco PLC (NYSE:ESV) last released its quarterly earnings results on Wednesday, October 26th. The offshore drilling services provider reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.15. The company had revenue of $548 million for the quarter, compared to analyst estimates of $541.65 million. Ensco PLC had a positive return on equity of 8.58% and a negative net margin of 52.28%. Ensco PLC’s revenue was down 45.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 earnings per share. On average, equities research analysts anticipate that Ensco PLC will post $1.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, December 5th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Thursday, December 1st. Ensco PLC’s dividend payout ratio is currently -0.53%.
Several equities research analysts recently weighed in on ESV shares. Zacks Investment Research raised shares of Ensco PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Jefferies Group reaffirmed a “hold” rating on shares of Ensco PLC in a report on Friday, August 5th. Nomura set a $6.00 price objective on shares of Ensco PLC and gave the stock a “sell” rating in a report on Tuesday, August 16th. Citigroup Inc. upped their price objective on shares of Ensco PLC from $9.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, August 25th. Finally, Howard Weil initiated coverage on shares of Ensco PLC in a report on Wednesday, September 14th. They issued an “outperform” rating and a $10.00 price objective for the company. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $11.23.
About Ensco PLC
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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