Ensco PLC’s (ESV) Sector Outperform Rating Reiterated at Howard Weil
Howard Weil restated their sector outperform rating on shares of Ensco PLC (NYSE:ESV) in a research note released on Thursday, StockTargetPrices.com reports.
A number of other brokerages have also issued reports on ESV. Bank of America Corp. began coverage on shares of Ensco PLC in a research report on Monday, June 13th. They set an underperform rating and a $9.00 target price on the stock. Johnson Rice raised Ensco PLC from a hold rating to an accumulate rating in a report on Monday, June 13th. DNB Markets downgraded Ensco PLC from a hold rating to a sell rating in a report on Tuesday, July 19th. Zacks Investment Research downgraded Ensco PLC from a hold rating to a strong sell rating in a report on Monday, July 18th. Finally, Jefferies Group reaffirmed a hold rating on shares of Ensco PLC in a report on Sunday, July 10th. Eight research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of Hold and an average target price of $11.92.
Shares of Ensco PLC (NYSE:ESV) opened at 6.74 on Thursday. The stock’s market cap is $2.03 billion. The company has a 50-day moving average of $8.02 and a 200 day moving average of $9.78. Ensco PLC has a one year low of $6.67 and a one year high of $18.93.
Ensco PLC (NYSE:ESV) last announced its earnings results on Wednesday, July 27th. The offshore drilling services provider reported $2.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $1.51. The business had revenue of $910 million for the quarter, compared to analyst estimates of $746.55 million. Ensco PLC had a negative net margin of 39.67% and a positive return on equity of 10.06%. The company’s revenue for the quarter was down 14.1% compared to the same quarter last year. During the same period last year, the firm posted $1.11 earnings per share. On average, equities analysts forecast that Ensco PLC will post $1.53 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 16th. Shareholders of record on Friday, September 2nd were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.59%. The ex-dividend date was Wednesday, August 31st. Ensco PLC’s dividend payout ratio (DPR) is -0.60%.
A number of hedge funds have recently bought and sold shares of ESV. Adage Capital Partners GP L.L.C. boosted its stake in Ensco PLC by 1.9% in the first quarter. Adage Capital Partners GP L.L.C. now owns 5,221,454 shares of the offshore drilling services provider’s stock valued at $54,146,000 after buying an additional 96,400 shares during the period. Springbok Capital Management LLC boosted its stake in Ensco PLC by 175.6% in the first quarter. Springbok Capital Management LLC now owns 25,150 shares of the offshore drilling services provider’s stock valued at $261,000 after buying an additional 16,026 shares during the period. Prudential Financial Inc. boosted its stake in Ensco PLC by 78.9% in the first quarter. Prudential Financial Inc. now owns 8,143,320 shares of the offshore drilling services provider’s stock valued at $84,446,000 after buying an additional 3,592,260 shares during the period. Los Angeles Capital Management & Equity Research Inc. boosted its stake in Ensco PLC by 108.9% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 1,200,610 shares of the offshore drilling services provider’s stock valued at $12,450,000 after buying an additional 625,996 shares during the period. Finally, Norges Bank acquired a new stake in Ensco PLC during the fourth quarter valued at approximately $44,067,000. Institutional investors own 85.81% of the company’s stock.
About Ensco PLC
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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