ENSCO PLC (NYSE:ESV) was upgraded by equities researchers at Citigroup Inc. from a “neutral” rating to a “buy” rating in a research report issued on Wednesday. The firm currently has a $15.00 price objective on the offshore drilling services provider’s stock, up from their prior price objective of $9.00. Citigroup Inc.’s target price would suggest a potential upside of 29.53% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Goldman Sachs Group, Inc. (The) raised shares of ENSCO PLC from a “neutral” rating to a “buy” rating and set a $10.50 price objective for the company in a research report on Wednesday, September 21st. Zephirin Group raised shares of ENSCO PLC from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Monday, September 19th. Evercore ISI reaffirmed a “buy” rating on shares of ENSCO PLC in a research report on Thursday, September 22nd. Bank of America raised shares of ENSCO PLC from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $8.00 to $14.00 in a research report on Monday. Finally, Jefferies Group reaffirmed a “hold” rating and set a $8.00 price objective (down from $10.00) on shares of ENSCO PLC in a research report on Wednesday, September 28th. Six research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have assigned a buy rating to the stock. ENSCO PLC has a consensus rating of “Hold” and an average target price of $10.66.

Analyst Recommendations for ENSCO PLC (NYSE:ESV)

Shares of ENSCO PLC (NYSE:ESV) traded down 0.4257% during trading on Wednesday, hitting $11.5307. 4,117,475 shares of the stock were exchanged. The company’s market cap is $3.47 billion. ENSCO PLC has a 1-year low of $6.50 and a 1-year high of $13.04. The firm’s 50-day moving average is $10.28 and its 200 day moving average is $8.90.

ENSCO PLC (NYSE:ESV) last released its quarterly earnings data on Wednesday, October 26th. The offshore drilling services provider reported $0.28 EPS for the quarter, topping the Zacks’ consensus estimate of $0.13 by $0.15. ENSCO PLC had a negative net margin of 52.28% and a positive return on equity of 8.58%. The firm earned $548 million during the quarter, compared to analysts’ expectations of $541.65 million. During the same period in the previous year, the business posted $0.78 earnings per share. The company’s revenue for the quarter was down 45.8% compared to the same quarter last year. Equities analysts forecast that ENSCO PLC will post $1.60 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 16th. Investors of record on Monday, December 5th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date was Thursday, December 1st. ENSCO PLC’s dividend payout ratio is currently -0.53%.

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Several institutional investors have recently modified their holdings of ESV. Vanguard Group Inc. boosted its position in shares of ENSCO PLC by 30.5% in the second quarter. Vanguard Group Inc. now owns 32,399,404 shares of the offshore drilling services provider’s stock worth $314,598,000 after buying an additional 7,576,931 shares in the last quarter. State Street Corp boosted its position in shares of ENSCO PLC by 16.6% in the second quarter. State Street Corp now owns 14,491,794 shares of the offshore drilling services provider’s stock worth $140,714,000 after buying an additional 2,060,673 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of ENSCO PLC by 4.5% in the third quarter. BlackRock Fund Advisors now owns 11,958,458 shares of the offshore drilling services provider’s stock worth $101,647,000 after buying an additional 511,713 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of ENSCO PLC by 29.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 9,224,245 shares of the offshore drilling services provider’s stock worth $89,567,000 after buying an additional 2,076,854 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in shares of ENSCO PLC by 5.4% in the third quarter. Prudential Financial Inc. now owns 8,036,892 shares of the offshore drilling services provider’s stock worth $68,314,000 after buying an additional 415,040 shares in the last quarter. Institutional investors own 87.77% 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.

5 Day Chart for NYSE:ESV

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