AGF Investments Inc. Trims Stake in Ensco Plc (ESV)
AGF Investments Inc. reduced its stake in shares of Ensco Plc (NYSE:ESV) by 2.9% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 686,164 shares of the offshore drilling services provider’s stock after selling 20,395 shares during the period. AGF Investments Inc. owned about 0.23% of Ensco Plc worth $3,543,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Ensco Plc by 10,624.9% during the 1st quarter. BlackRock Inc. now owns 26,164,554 shares of the offshore drilling services provider’s stock valued at $234,173,000 after acquiring an additional 25,920,593 shares during the period. FMR LLC grew its position in shares of Ensco Plc by 969.0% during the 1st quarter. FMR LLC now owns 14,705,005 shares of the offshore drilling services provider’s stock valued at $131,610,000 after acquiring an additional 13,329,369 shares during the period. Contrarius Investment Management Ltd grew its position in shares of Ensco Plc by 114.5% during the 2nd quarter. Contrarius Investment Management Ltd now owns 7,638,005 shares of the offshore drilling services provider’s stock valued at $39,412,000 after acquiring an additional 4,077,861 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Ensco Plc by 657.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 6,206,197 shares of the offshore drilling services provider’s stock valued at $55,544,000 after acquiring an additional 5,387,049 shares during the period. Finally, Bank of New York Mellon Corp grew its position in shares of Ensco Plc by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 5,577,679 shares of the offshore drilling services provider’s stock valued at $28,780,000 after acquiring an additional 18,054 shares during the period. 91.56% of the stock is owned by hedge funds and other institutional investors.
A number of analysts recently commented on the stock. Jefferies Group LLC set a $9.00 price target on shares of Ensco Plc and gave the company a “hold” rating in a research note on Wednesday, May 24th. Clarkson Capital upgraded shares of Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Tuesday, May 30th. Seaport Global Securities upgraded shares of Ensco Plc from a “sell” rating to a “neutral” rating and set a $6.50 price target on the stock in a research note on Wednesday, May 31st. BidaskClub upgraded 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 upgraded shares of Ensco Plc from a “neutral” rating to an “overweight” rating and dropped their price target for the company from $9.20 to $8.00 in a research note on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.85.
Shares of Ensco Plc (NYSE:ESV) opened at 4.45 on Friday. The firm has a 50-day moving average of $4.75 and a 200 day moving average of $6.79. Ensco Plc has a 1-year low of $4.10 and a 1-year high of $12.04. The stock has a market capitalization of $1.35 billion, a PE ratio of 27.81 and a beta of 1.65.
Ensco Plc (NYSE:ESV) last released its earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. Ensco Plc had a net margin of 2.68% and a return on equity of 0.77%. The firm had revenue of $457.50 million for the quarter, compared to the consensus estimate of $453.48 million. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The company’s quarterly revenue was down 49.7% compared to the same quarter last year. Analysts predict that Ensco Plc will post ($0.38) EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Stockholders of record on Monday, September 11th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, September 8th. Ensco Plc’s dividend payout ratio (DPR) is presently 23.53%.
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Ensco Plc 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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