Shares of Ensco PLC (NYSE:ESV) fell 2.4% on Wednesday . The company traded as low as $8.05 and last traded at $8.10, with a volume of 4,281,291 shares changing hands. The stock had previously closed at $8.30.

A number of research firms have recently weighed in on ESV. Jefferies Group restated a “hold” rating on shares of Ensco PLC in a report on Sunday, July 10th. JPMorgan Chase & Co. reiterated a “sell” rating and issued a $9.00 target price on shares of Ensco PLC in a research note on Monday, May 2nd. Zephirin Group reiterated a “hold” rating and issued a $12.00 target price on shares of Ensco PLC in a research note on Thursday, May 5th. Johnson Rice upgraded shares of Ensco PLC from a “hold” rating to an “accumulate” rating in a research note on Monday, June 13th. Finally, Zacks Investment Research cut shares of Ensco PLC from a “hold” rating to a “strong sell” rating in a research note on Monday, July 18th. Eight equities 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 company’s stock. Ensco PLC has an average rating of “Hold” and an average target price of $12.20.

The firm’s market capitalization is $2.35 billion. The stock has a 50 day moving average price of $9.12 and a 200-day moving average price of $9.92.

Ensco PLC (NYSE:ESV) last issued its quarterly earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $1.51. The company 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 prior year, the business earned $1.11 earnings per share. On average, equities research analysts forecast 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 issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Wednesday, August 31st.

A hedge fund recently raised its stake in Ensco PLC stock. Connor Clark & Lunn Investment Management Ltd. increased its stake in Ensco PLC (NYSE:ESV) by 95.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 as of its most recent SEC filing.

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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