Ensco (ESV) Price Target Cut to $6.00 by Analysts at Wells Fargo & Co
Ensco (NYSE:ESV) had its price objective lowered by Wells Fargo & Co from $7.00 to $6.00 in a report published on Wednesday morning. Wells Fargo & Co currently has a market perform rating on the offshore drilling services provider’s stock.
A number of other research analysts have also recently commented on the stock. Credit Suisse Group set a $8.00 price target on shares of Ensco and gave the company a hold rating in a research report on Tuesday. Susquehanna Bancshares set a $7.00 price target on shares of Ensco and gave the company a hold rating in a research report on Friday, January 12th. Cowen set a $6.00 price target on shares of Ensco and gave the company a hold rating in a research report on Thursday, January 11th. Piper Jaffray Companies cut shares of Ensco from an overweight rating to a neutral rating and set a $6.00 price target on the stock. in a research report on Thursday, January 11th. Finally, Zacks Investment Research cut shares of Ensco from a hold rating to a sell rating in a research report on Monday, January 8th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have given a buy rating to the company. Ensco currently has an average rating of Hold and a consensus price target of $7.44.
Shares of Ensco (NYSE ESV) traded down $0.03 during midday trading on Wednesday, reaching $4.42. 25,404,430 shares of the company’s stock were exchanged, compared to its average volume of 14,400,000. Ensco has a twelve month low of $4.10 and a twelve month high of $10.15. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.13 and a quick ratio of 5.04. The company has a market capitalization of $1,930.00, a PE ratio of -5.74 and a beta of 1.88.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Monday, March 5th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, March 2nd. Ensco’s dividend payout ratio is -5.19%.
Several institutional investors have recently modified their holdings of ESV. Wasatch Advisors Inc. purchased a new stake in Ensco in the fourth quarter worth $1,954,000. Van Den Berg Management I Inc. lifted its stake in Ensco by 52.5% in the third quarter. Van Den Berg Management I Inc. now owns 2,522,746 shares of the offshore drilling services provider’s stock worth $15,061,000 after acquiring an additional 868,550 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in Ensco by 22.2% in the third quarter. Schwab Charles Investment Management Inc. now owns 2,069,292 shares of the offshore drilling services provider’s stock worth $12,354,000 after acquiring an additional 376,450 shares during the period. Aperio Group LLC lifted its stake in Ensco by 64.0% in the fourth quarter. Aperio Group LLC now owns 604,545 shares of the offshore drilling services provider’s stock worth $3,573,000 after acquiring an additional 235,989 shares during the period. Finally, Majedie Asset Management Ltd lifted its stake in Ensco by 204.0% in the third quarter. Majedie Asset Management Ltd now owns 6,382,433 shares of the offshore drilling services provider’s stock worth $38,103,000 after acquiring an additional 4,282,658 shares during the period. Hedge funds and other institutional investors own 70.86% of the company’s stock.
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Ensco Company Profile
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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