Shares of Ensco PLC (NYSE:ESV) were down 9.8% during trading on Tuesday . The company traded as low as $9.58 and last traded at $9.62, with a volume of 3,854,679 shares traded. The stock had previously closed at $10.67.

A number of analysts have commented on ESV shares. Zacks Investment Research cut Ensco PLC from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Barclays PLC cut Ensco PLC from an “equal weight” rating to an “underweight” rating and set a $7.00 price target for the company. in a research report on Monday, March 28th. Seaport Global Securities upped their price target on Ensco PLC from $7.00 to $8.00 in a research report on Monday, March 14th. Nomura Holdings Inc. started coverage on Ensco PLC in a research report on Friday, April 8th. They issued a “reduce” rating and a $6.00 price target for the company. Finally, Citigroup Inc. reduced their price target on Ensco PLC from $11.00 to $9.00 and set a “neutral” rating for the company in a research report on Wednesday, March 16th. Seven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Ensco PLC currently has an average rating of “Hold” and a consensus target price of $13.80.

The company has a 50-day moving average of $10.10 and a 200-day moving average of $10.59. The stock’s market cap is $2.43 billion.

Ensco PLC (NYSE:ESV) last issued its earnings results on Wednesday, April 27th. The offshore drilling services provider reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The firm earned $814 million during the quarter, compared to analyst estimates of $792.95 million. During the same quarter in the prior year, the company posted $1.49 EPS. Ensco PLC’s revenue was down 30.1% on a year-over-year basis. Analysts predict that Ensco PLC will post $1.86 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 17th. Stockholders of record on Monday, June 6th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.41%. The ex-dividend date was Thursday, June 2nd.

Several hedge funds and institutional investors recently modified their holdings of ESV. Sippican Capital Advisors boosted its position in shares of Ensco PLC by 6.1% in the fourth quarter. Sippican Capital Advisors now owns 70,658 shares of the offshore drilling services provider’s stock valued at $1,087,000 after buying an additional 4,054 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Ensco PLC by 2.3% in the fourth quarter. Nationwide Fund Advisors now owns 72,527 shares of the offshore drilling services provider’s stock valued at $1,116,000 after buying an additional 1,653 shares in the last quarter. GSA Capital Partners LLP boosted its position in shares of Ensco PLC by 13.3% in the fourth quarter. GSA Capital Partners LLP now owns 72,548 shares of the offshore drilling services provider’s stock valued at $1,117,000 after buying an additional 8,526 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Ensco PLC by 111.8% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 74,454 shares of the offshore drilling services provider’s stock valued at $1,146,000 after buying an additional 39,295 shares in the last quarter. Finally, Montgomery Investment Management Inc. boosted its position in shares of Ensco PLC by 4.2% in the fourth quarter. Montgomery Investment Management Inc. now owns 80,137 shares of the offshore drilling services provider’s stock valued at $1,233,000 after buying an additional 3,200 shares in the last quarter.

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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