State Treasurer State of Michigan boosted its position in shares of Ensco Plc (NYSE:ESV) by 1.6% during the second quarter, Holdings Channel reports. The firm owned 125,100 shares of the offshore drilling services provider’s stock after buying an additional 2,000 shares during the period. State Treasurer State of Michigan’s holdings in Ensco Plc were worth $646,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ESV. Swiss National Bank raised its position in Ensco Plc by 0.8% in the first quarter. Swiss National Bank now owns 499,438 shares of the offshore drilling services provider’s stock worth $4,470,000 after buying an additional 4,100 shares during the period. Nationwide Fund Advisors raised its position in Ensco Plc by 3.0% in the first quarter. Nationwide Fund Advisors now owns 547,531 shares of the offshore drilling services provider’s stock worth $4,900,000 after buying an additional 15,777 shares during the period. Envestnet Asset Management Inc. raised its position in Ensco Plc by 20.5% in the first quarter. Envestnet Asset Management Inc. now owns 37,896 shares of the offshore drilling services provider’s stock worth $339,000 after buying an additional 6,436 shares during the period. RidgeWorth Capital Management LLC purchased a new position in Ensco Plc during the first quarter worth approximately $24,001,000. Finally, Oxford Asset Management raised its position in Ensco Plc by 16.2% in the first quarter. Oxford Asset Management now owns 943,550 shares of the offshore drilling services provider’s stock worth $8,445,000 after buying an additional 131,646 shares during the period. Hedge funds and other institutional investors own 89.52% of the company’s stock.

Shares of Ensco Plc (ESV) traded up 0.329% during trading on Thursday, hitting $4.575. 5,784,017 shares of the stock traded hands. The firm’s 50-day moving average price is $5.24 and its 200-day moving average price is $7.74. The stock has a market cap of $1.39 billion, a PE ratio of 28.594 and a beta of 1.64. Ensco Plc has a 12 month low of $4.33 and a 12 month high of $12.04.

Ensco Plc (NYSE:ESV) last announced its quarterly earnings data on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Ensco Plc had a net margin of 2.68% and a return on equity of 0.77%. The company had revenue of $457.50 million during the quarter, compared to analyst estimates of $453.48 million. During the same quarter last year, the business posted $2.04 EPS. The firm’s revenue for the quarter was down 49.7% on a year-over-year basis. Analysts anticipate that Ensco Plc will post ($0.37) EPS for the current year.

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A number of research analysts have recently commented on ESV shares. Barclays PLC restated a “sell” rating and set a $8.00 price target on shares of Ensco Plc in a research report on Thursday, April 27th. BidaskClub upgraded shares of Ensco Plc from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. Bank of America Corporation lowered shares of Ensco Plc from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $7.00 to $5.00 in a research report on Friday, June 30th. Jefferies Group LLC set a $9.00 price target on shares of Ensco Plc and gave the company a “hold” rating in a research report on Wednesday, May 24th. Finally, ValuEngine lowered shares of Ensco Plc from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Six equities research analysts have rated the stock with a sell rating, six have given a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $9.64.

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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.

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Institutional Ownership by Quarter for Ensco Plc (NYSE:ESV)

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