Ensco Plc (ESV) Trading -5.2% Higher After Dividend Announcement
Ensco Plc (NYSE:ESV) shares traded up 5.2% on Wednesday after the company announced a dividend. The stock traded as high as $4.75 and last traded at $4.36, with a volume of 12,632,631 shares trading hands. The stock had previously closed at $4.60.
The newly announced dividend which will be paid on Friday, September 22nd. Shareholders of record on Monday, September 11th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.92%. Ensco Plc’s payout ratio is 23.53%.
A number of research analysts have weighed in on the stock. Jefferies Group LLC set a $9.00 price objective on shares of Ensco Plc and gave the company a “hold” rating in a report on Wednesday, May 24th. Clarkson Capital raised shares of Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, May 30th. Seaport Global Securities raised shares of Ensco Plc from a “sell” rating to a “neutral” rating and set a $6.50 price objective for the company in a report on Wednesday, May 31st. BidaskClub raised shares of Ensco Plc from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Finally, Piper Jaffray Companies raised shares of Ensco Plc from a “neutral” rating to an “overweight” rating and cut their target price for the stock from $9.20 to $8.00 in a research note on Monday, June 19th. Five research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the stock. Ensco Plc presently has a consensus rating of “Hold” and an average target price of $9.85.
The firm has a 50-day moving average price of $4.94 and a 200-day moving average price of $7.18. The firm has a market cap of $1.32 billion, a PE ratio of 27.19 and a beta of 1.64.
Ensco Plc (NYSE:ESV) last issued its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. The company had revenue of $457.50 million for the quarter, compared to the consensus estimate of $453.48 million. Ensco Plc had a return on equity of 0.77% and a net margin of 2.68%. The firm’s quarterly revenue was down 49.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.04 EPS. Equities research analysts anticipate that Ensco Plc will post ($0.36) EPS for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in the company. Swiss National Bank increased its position in Ensco Plc by 0.8% in the first quarter. Swiss National Bank now owns 499,438 shares of the offshore drilling services provider’s stock worth $4,470,000 after buying an additional 4,100 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Ensco Plc by 3.0% in the first quarter. Nationwide Fund Advisors now owns 547,531 shares of the offshore drilling services provider’s stock valued at $4,900,000 after buying an additional 15,777 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Ensco Plc by 20.5% in the first quarter. Envestnet Asset Management Inc. now owns 37,896 shares of the offshore drilling services provider’s stock valued at $339,000 after buying an additional 6,436 shares in the last quarter. RidgeWorth Capital Management LLC acquired a new stake in Ensco Plc during the first quarter valued at $24,001,000. Finally, Oxford Asset Management boosted its stake in Ensco Plc by 16.2% in the first quarter. Oxford Asset Management now owns 943,550 shares of the offshore drilling services provider’s stock valued at $8,445,000 after buying an additional 131,646 shares in the last quarter. Hedge funds and other institutional investors own 91.56% of the company’s stock.
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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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