Ensco Plc (NYSE:ESV) shares dropped 1.5% during trading on Thursday . The stock traded as low as $8.60 and last traded at $8.75. Approximately 1,090,315 shares were traded during trading, a decline of 92% from the average daily volume of 13,408,553 shares. The stock had previously closed at $8.62.

ESV has been the subject of several research analyst reports. ValuEngine raised Ensco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th. BTIG Research initiated coverage on Ensco in a research note on Monday, September 17th. They set a “buy” rating and a $10.00 target price for the company. DNB Markets downgraded Ensco from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. Wells Fargo & Co raised Ensco from a “market perform” rating to an “outperform” rating and set a $11.00 target price for the company in a research note on Tuesday. Finally, Tudor Pickering raised Ensco from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.58.

The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -17.00 and a beta of 1.86. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.59.

Ensco (NYSE:ESV) last released its quarterly earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.03. The company had revenue of $458.50 million for the quarter, compared to analysts’ expectations of $449.69 million. Ensco had a negative return on equity of 4.51% and a negative net margin of 29.25%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.10) earnings per share. On average, equities analysts forecast that Ensco Plc will post -1.34 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Monday, September 10th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. The ex-dividend date of this dividend was Friday, September 7th. Ensco’s dividend payout ratio (DPR) is currently -7.69%.

Large investors have recently added to or reduced their stakes in the company. Energy Opportunities Capital Management LLC grew its holdings in shares of Ensco by 166.0% during the second quarter. Energy Opportunities Capital Management LLC now owns 585,785 shares of the offshore drilling services provider’s stock worth $4,253,000 after purchasing an additional 365,590 shares during the last quarter. Millennium Management LLC bought a new stake in shares of Ensco during the second quarter worth about $92,724,000. GeoSphere Capital Management LLC bought a new stake in shares of Ensco during the second quarter worth about $414,000. Fox Run Management L.L.C. bought a new stake in shares of Ensco during the second quarter worth about $219,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Ensco during the second quarter worth about $857,000. Institutional investors own 97.58% of the company’s stock.

Ensco Company Profile (NYSE:ESV)

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.

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