Cornerstone Investment Partners LLC Decreases Position in ENSCO PLC (NYSE:ESV)

Cornerstone Investment Partners LLC decreased its stake in shares of ENSCO PLC (NYSE:ESV) by 94.3% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 113,814 shares of the offshore drilling services provider’s stock after selling 1,890,550 shares during the period. Cornerstone Investment Partners LLC’s holdings in ENSCO PLC were worth $587,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Tradewinds Capital Management LLC boosted its stake in shares of ENSCO PLC by 0.7% in the first quarter. Tradewinds Capital Management LLC now owns 21,449 shares of the offshore drilling services provider’s stock valued at $192,000 after buying an additional 149 shares during the last quarter. World Asset Management Inc boosted its stake in shares of ENSCO PLC by 0.6% in the first quarter. World Asset Management Inc now owns 25,438 shares of the offshore drilling services provider’s stock valued at $228,000 after buying an additional 158 shares during the last quarter. ZWJ Investment Counsel Inc. boosted its stake in shares of ENSCO PLC by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock valued at $104,000 after buying an additional 180 shares during the last quarter. LS Investment Advisors LLC boosted its stake in shares of ENSCO PLC by 1.2% in the first quarter. LS Investment Advisors LLC now owns 20,765 shares of the offshore drilling services provider’s stock valued at $186,000 after buying an additional 240 shares during the last quarter. Finally, Tyers Asset Management LLC raised its position in ENSCO PLC by 2.7% in the first quarter. Tyers Asset Management LLC now owns 13,748 shares of the offshore drilling services provider’s stock valued at $123,000 after buying an additional 364 shares during the period. Institutional investors and hedge funds own 91.48% of the company’s stock.

Shares of ENSCO PLC (NYSE:ESV) opened at 5.2801 on Wednesday. ENSCO PLC has a 12-month low of $4.75 and a 12-month high of $12.04. The stock’s 50 day moving average is $6.35 and its 200-day moving average is $8.84. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 2.3179 and a beta of 1.64. ENSCO PLC also was the target of some unusual options trading on Monday. Investors acquired 7,997 call options on the company. This represents an increase of approximately 363% compared to the typical volume of 1,729 call options.

ENSCO PLC (NYSE:ESV) last announced its quarterly earnings results on Thursday, April 27th. The offshore drilling services provider reported ($0.04) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. ENSCO PLC had a return on equity of 3.07% and a net margin of 28.32%. The business had revenue of $471.10 million during the quarter, compared to analysts’ expectations of $468.78 million. Equities analysts anticipate that ENSCO PLC will post ($0.23) EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 16th. Stockholders of record on Monday, June 5th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.78%. The ex-dividend date was Thursday, June 1st. ENSCO PLC’s dividend payout ratio is currently 1.69%.

TRADEMARK VIOLATION WARNING: This piece was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this piece on another domain, it was stolen and republished in violation of United States & international trademark & copyright law. The correct version of this piece can be accessed at https://www.themarketsdaily.com/2017/07/12/cornerstone-investment-partners-llc-decreases-position-in-ensco-plc-nyseesv.html.

Several equities analysts have recently weighed in on the stock. Jefferies Group LLC set a $9.00 target price on shares of ENSCO PLC and gave the company a “hold” rating in a report on Saturday, July 1st. Seaport Global Securities lowered shares of ENSCO PLC from a “neutral” rating to a “sell” rating and cut their target price for the company from $6.50 to $4.00 in a report on Wednesday, June 21st. BMO Capital Markets reaffirmed a “hold” rating and set a $4.75 target price on shares of ENSCO PLC in a report on Tuesday. ValuEngine lowered shares of ENSCO PLC from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, BidaskClub lowered shares of ENSCO PLC from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Seven investment analysts have rated the stock with a sell rating, seven 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 a consensus price target of $9.79.

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.

Institutional Ownership by Quarter for ENSCO PLC (NYSE:ESV)

Receive News & Ratings for ENSCO PLC Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ENSCO PLC and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply