Shares of Ensco PLC (NYSE:ESV) were down 4.9% on Wednesday . The company traded as low as $8.41 and last traded at $8.49, with a volume of 4,202,415 shares. The stock had previously closed at $8.93.

A number of analysts have recently weighed in on ESV shares. Jefferies Group restated a “hold” rating on shares of Ensco PLC in a report on Thursday, August 11th. Evercore ISI restated a “buy” rating on shares of Ensco PLC in a report on Wednesday, June 29th. DNB Markets downgraded shares of Ensco PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Credit Suisse Group AG reiterated a “hold” rating and set a $10.00 price target on shares of Ensco PLC in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of Ensco PLC from a “sell” rating to a “hold” rating in a report on Wednesday, August 3rd. Eight analysts have rated the stock with a sell rating, fourteen have given a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Ensco PLC has a consensus rating of “Hold” and an average price target of $12.10.

The stock’s 50-day moving average price is $9.35 and its 200 day moving average price is $9.96. The company’s market cap is $2.55 billion.

Ensco PLC (NYSE:ESV) last announced its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $1.51. The company had revenue of $910 million for the quarter, compared to analyst estimates of $746.55 million. During the same quarter in the prior year, the business earned $1.11 earnings per share. Ensco PLC’s revenue was down 14.1% on a year-over-year basis. Equities research analysts expect that Ensco PLC will post $1.53 earnings per share for the current fiscal year.

Several hedge funds and institutional investors have made changes to their positions in the stock. Systematic Financial Management LP acquired a new position in shares of Ensco PLC during the fourth quarter worth $1,724,000. Dimensional Fund Advisors LP boosted its position in shares of 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 during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Ensco PLC by 95.1% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 71,300 shares of the offshore drilling services provider’s stock worth $1,097,000 after buying an additional 34,750 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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