Ensco PLC (NYSE:ESV)’s share price dropped 3% on Tuesday . The stock traded as low as $8.92 and last traded at $8.96, with a volume of 3,039,014 shares changing hands. The stock had previously closed at $9.24.

ESV has been the topic of several analyst reports. Clarkson Capital reissued a “sell” rating on shares of Ensco PLC in a research report on Tuesday, April 12th. Morgan Stanley raised Ensco PLC from an “underweight” rating to an “equal weight” rating and boosted their target price for the company from $10.00 to $14.00 in a research report on Friday, April 15th. Goldman Sachs Group Inc. cut their target price on Ensco PLC from $13.00 to $9.00 and set a “neutral” rating on the stock in a research report on Friday, April 15th. Deutsche Bank AG raised Ensco PLC from a “sell” rating to a “hold” rating and boosted their target price for the company from $4.00 to $9.00 in a research report on Monday, April 18th. Finally, DNB Markets raised Ensco PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, April 19th. Eight equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $12.10.

The firm’s market capitalization is $2.71 billion. The company’s 50 day moving average price is $9.61 and its 200-day moving average price is $9.99.

Ensco PLC (NYSE:ESV) last posted its earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $1.51. The business had revenue of $910 million for the quarter, compared to analyst estimates of $746.55 million. During the same period last year, the business earned $1.11 EPS. Ensco PLC’s revenue was down 14.1% compared to the same quarter last year. On average, equities analysts predict that Ensco PLC will post $1.57 EPS for the current year.

A number of large investors have bought and sold shares of ESV. Dimensional Fund Advisors LP boosted its stake 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 valued at $2,743,000 after buying an additional 54,370 shares during the period. Systematic Financial Management LP acquired a new stake in Ensco PLC during the fourth quarter valued at about $1,724,000. Andra AP fonden boosted its stake 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 valued at $2,344,000 after buying an additional 62,400 shares during the period. Aberdeen Asset Management PLC UK boosted its stake 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 valued at $1,415,000 after buying an additional 7,218 shares during the period. Finally, GSA Capital Partners LLP boosted its stake in 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 during the period.

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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