Ensco PLC (ESV) Trading Down 2.4%
Ensco PLC (NYSE:ESV) traded down 2.4% during mid-day trading on Tuesday . The company traded as low as $7.78 and last traded at $7.79, with a volume of 2,085,474 shares changing hands. The stock had previously closed at $7.98.
A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. restated a “sell” rating and issued a $9.00 price objective on shares of Ensco PLC in a research note on Monday, May 2nd. Johnson Rice upgraded Ensco PLC from a “hold” rating to an “accumulate” rating in a research note on Monday, June 13th. Bank of America Corp. assumed coverage on Ensco PLC in a research note on Monday, June 13th. They issued an “underperform” rating and a $9.00 price objective on the stock. Zephirin Group restated a “hold” rating and issued a $12.00 price objective on shares of Ensco PLC in a research note on Thursday, May 5th. Finally, DNB Markets cut Ensco PLC from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Eight research 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 stock. Ensco PLC currently has a consensus rating of “Hold” and a consensus price target of $12.20.
The company’s 50-day moving average price is $8.94 and its 200 day moving average price is $9.92. The firm’s market capitalization is $2.33 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 (EPS) for the quarter, beating the consensus estimate 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 firm’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period last year, the business posted $1.11 EPS. Analysts expect that Ensco PLC will post $1.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 16th. Shareholders 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 yield of 0.52%. 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. boosted its stake in shares of Ensco PLC (NYSE:ESV) by 95.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. 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 filing with the SEC.
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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