Ensco PLC (ESV) Shares Down 2.4%
Ensco PLC (NYSE:ESV) fell 2.4% during trading on Wednesday . The company traded as low as $8.05 and last traded at $8.10, with a volume of 4,281,291 shares traded. The stock had previously closed at $8.30.
A number of brokerages have commented on ESV. Nomura set a $6.00 price objective on shares of Ensco PLC and gave the stock a “sell” rating in a report on Tuesday, August 16th. Bank of America Corp. began coverage on shares of Ensco PLC in a report on Monday, June 13th. They set an “underperform” rating and a $9.00 price objective on the stock. Johnson Rice raised shares of Ensco PLC from a “hold” rating to an “accumulate” rating in a report on Monday, June 13th. Credit Suisse Group AG reissued a “hold” rating and set a $10.00 price objective on shares of Ensco PLC in a report on Friday, July 29th. Finally, DNB Markets lowered shares of Ensco PLC from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Eight research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $12.10.
The firm’s 50-day moving average is $9.17 and its 200-day moving average is $9.93. The stock’s market capitalization is $2.40 billion.
Ensco PLC (NYSE:ESV) last issued its earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $1.51. The firm had revenue of $910 million for the quarter, compared to analyst estimates of $746.55 million. Ensco PLC’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. Equities analysts anticipate that Ensco PLC will post $1.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Investors of record on Friday, September 2nd will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.50%. The ex-dividend date of this dividend is Wednesday, August 31st.
An institutional investor recently raised its position in Ensco PLC stock. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Ensco PLC (NYSE:ESV) by 95.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,300 shares of the offshore drilling services provider’s stock after buying an additional 34,750 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Ensco PLC were worth $1,097,000 at the end of the most recent 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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