Legal & General Group Plc Reduces Stake in Ensco Plc (ESV)
Legal & General Group Plc cut its stake in Ensco Plc (NYSE:ESV) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 893,751 shares of the offshore drilling services provider’s stock after selling 30,494 shares during the quarter. Legal & General Group Plc owned approximately 0.29% of Ensco Plc worth $4,624,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. ZWJ Investment Counsel Inc. increased its stake in shares of Ensco Plc by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock worth $104,000 after acquiring an additional 180 shares during the last quarter. Tyers Asset Management LLC increased its stake in shares of Ensco Plc by 2.7% in the first quarter. Tyers Asset Management LLC now owns 13,748 shares of the offshore drilling services provider’s stock worth $123,000 after acquiring an additional 364 shares during the last quarter. HRT Financial LLC acquired a new position in shares of Ensco Plc in the first quarter worth $126,000. Hellman Jordan Management Co. Inc. MA acquired a new position in shares of Ensco Plc in the second quarter worth $126,000. Finally, LS Investment Advisors LLC increased its stake in shares of Ensco Plc by 19.5% in the second quarter. LS Investment Advisors LLC now owns 24,804 shares of the offshore drilling services provider’s stock worth $128,000 after acquiring an additional 4,039 shares during the last quarter. 91.56% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have commented on the stock. BMO Capital Markets increased their target price on shares of Ensco Plc from $4.75 to $5.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. ValuEngine downgraded shares of Ensco Plc from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. BidaskClub downgraded shares of Ensco Plc from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Piper Jaffray Companies raised shares of Ensco Plc from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $9.20 to $8.00 in a research report on Monday, June 19th. Finally, Bank of America Corporation downgraded shares of Ensco Plc from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $7.00 to $5.00 in a research report on Friday, June 30th. Four investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.85.
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Shares of Ensco Plc (NYSE ESV) opened at 4.54 on Tuesday. The company has a 50 day moving average of $4.73 and a 200 day moving average of $6.72. The company has a market cap of $1.38 billion, a PE ratio of 28.38 and a beta of 1.65. Ensco Plc has a 1-year low of $4.10 and a 1-year high of $12.04.
Ensco Plc (NYSE:ESV) last released its quarterly earnings data on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share 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 company had revenue of $457.50 million for the quarter, compared to analyst estimates of $453.48 million. During the same period in the previous year, the business earned $2.04 EPS. Ensco Plc’s revenue for the quarter was down 49.7% compared to the same quarter last year. Equities analysts expect that Ensco Plc will post ($0.38) earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Monday, September 11th will be paid 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 0.88%. Ensco Plc’s dividend payout ratio (DPR) is currently 23.53%.
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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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