Credit Suisse Group upgraded shares of Ensco (NYSE:ESV) from a neutral rating to a buy rating in a research note released on Friday, MarketBeat reports. Credit Suisse Group currently has $8.00 price target on the offshore drilling services provider’s stock.

A number of other research analysts have also weighed in on the stock. Citigroup lowered shares of Ensco from a buy rating to a neutral rating in a research report on Monday, March 19th. Cowen set a $5.00 price target on shares of Ensco and gave the company a hold rating in a research report on Thursday, March 15th. Zacks Investment Research raised shares of Ensco from a sell rating to a hold rating in a research report on Wednesday, March 14th. Wells Fargo lowered their price objective on shares of Ensco from $7.00 to $6.00 and set a market perform rating on the stock in a research report on Wednesday, February 28th. Finally, Susquehanna Bancshares set a $7.00 price objective on shares of Ensco and gave the stock a hold rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the stock. Ensco currently has an average rating of Hold and an average target price of $6.61.

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ESV opened at $5.52 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.13 and a current ratio of 2.13. Ensco has a fifty-two week low of $4.10 and a fifty-two week high of $8.75. The stock has a market cap of $2,367.53, a P/E ratio of -10.62 and a beta of 1.82.

Ensco (NYSE:ESV) last released its quarterly earnings results on Tuesday, February 27th. The offshore drilling services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Ensco had a negative net margin of 16.48% and a negative return on equity of 1.86%. The company had revenue of $454.00 million for the quarter, compared to analyst estimates of $453.21 million. During the same period last year, the firm earned $0.10 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. equities research analysts predict that Ensco will post -0.98 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. raised its position in shares of Ensco by 45.4% in the fourth quarter. BlackRock Inc. now owns 48,257,622 shares of the offshore drilling services provider’s stock valued at $285,202,000 after purchasing an additional 15,071,031 shares during the period. Majedie Asset Management Ltd raised its position in shares of Ensco by 182.2% in the fourth quarter. Majedie Asset Management Ltd now owns 18,008,535 shares of the offshore drilling services provider’s stock valued at $106,430,000 after purchasing an additional 11,626,102 shares during the period. Millennium Management LLC raised its position in shares of Ensco by 3.4% in the fourth quarter. Millennium Management LLC now owns 8,208,812 shares of the offshore drilling services provider’s stock valued at $48,514,000 after purchasing an additional 271,129 shares during the period. Van Den Berg Management I Inc. raised its position in shares of Ensco by 205.4% in the fourth quarter. Van Den Berg Management I Inc. now owns 7,705,642 shares of the offshore drilling services provider’s stock valued at $45,540,000 after purchasing an additional 5,182,896 shares during the period. Finally, Horseman Capital Management Ltd raised its position in shares of Ensco by 101.5% in the fourth quarter. Horseman Capital Management Ltd now owns 3,828,800 shares of the offshore drilling services provider’s stock valued at $22,628,000 after purchasing an additional 1,928,800 shares during the period. 92.16% of the stock is currently owned by institutional investors.

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Ensco Company Profile

Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.

Analyst Recommendations for Ensco (NYSE:ESV)

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