Ensco PLC (ESV) Stock Price Up 6%
Shares of Ensco PLC (NYSE:ESV) rose 6% during mid-day trading on Monday . The company traded as high as $9.21 and last traded at $9.19, with a volume of 4,534,072 shares. The stock had previously closed at $8.67.
ESV has been the topic of a number of recent research reports. Bank of America Corp. initiated coverage on Ensco PLC in a report on Sunday, June 19th. They set an “underperform” rating and a $10.53 price objective on the stock. DNB Markets cut Ensco PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Susquehanna raised Ensco PLC from a “negative” rating to a “neutral” rating in a report on Tuesday, June 28th. Zacks Investment Research cut Ensco PLC from a “hold” rating to a “strong sell” rating in a report on Monday, July 18th. Finally, Clarkson Capital reaffirmed a “sell” rating on shares of Ensco PLC in a report on Tuesday, April 12th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $12.10.
The company’s market capitalization is $2.78 billion. The stock’s 50-day moving average price is $9.68 and its 200 day moving average price is $10.00.
Ensco PLC (NYSE:ESV) last released its earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $1.51. The business had revenue of $910 million for the quarter, compared to the consensus estimate of $746.55 million. The company’s quarterly revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. On average, equities analysts forecast that Ensco PLC will post $1.57 EPS for the current fiscal year.
Several hedge funds and institutional investors have added to or reduced their stakes in ESV. Vanguard Group Inc. boosted its position in Ensco PLC by 9.1% in the fourth quarter. Vanguard Group Inc. now owns 25,384,257 shares of the offshore drilling services provider’s stock worth $390,664,000 after buying an additional 2,124,002 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Ensco PLC by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 178,204 shares of the offshore drilling services provider’s stock worth $2,743,000 after buying an additional 54,370 shares in the last quarter. Andra AP fonden boosted its position in Ensco PLC by 69.4% in the fourth quarter. Andra AP fonden now owns 152,300 shares of the offshore drilling services provider’s stock worth $2,344,000 after buying an additional 62,400 shares in the last quarter. Systematic Financial Management LP acquired a new position in Ensco PLC during the fourth quarter worth approximately $1,724,000. Finally, Aberdeen Asset Management PLC UK boosted its position in Ensco PLC by 9.3% in the fourth quarter. Aberdeen Asset Management PLC UK now owns 85,200 shares of the offshore drilling services provider’s stock worth $1,415,000 after buying an additional 7,218 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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