Ensco (ESV) Shares Down 5.8%

Shares of Ensco Plc (NYSE:ESV) dropped 5.8% during mid-day trading on Monday . The stock traded as low as $14.84 and last traded at $14.85. Approximately 10,495,635 shares traded hands during trading, an increase of 219% from the average daily volume of 3,286,053 shares. The stock had previously closed at $15.76.

ESV has been the topic of several recent research reports. ValuEngine cut Ensco from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. DNB Markets raised Ensco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Morgan Stanley initiated coverage on Ensco in a research report on Tuesday. They set an “overweight” rating and a $25.00 target price on the stock. Citigroup initiated coverage on Ensco in a research report on Thursday, April 11th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Ensco in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ensco currently has an average rating of “Hold” and an average target price of $8.53.

The company has a debt-to-equity ratio of 0.62, a current ratio of 2.48 and a quick ratio of 2.48. The stock has a market capitalization of $1.67 billion, a price-to-earnings ratio of -2.84 and a beta of 2.16.

Ensco (NYSE:ESV) last posted its quarterly earnings data on Wednesday, February 27th. The offshore drilling services provider reported ($0.39) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.38) by ($0.01). The business had revenue of $399.00 million during the quarter, compared to analyst estimates of $404.69 million. Ensco had a negative return on equity of 6.95% and a negative net margin of 37.51%. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.23) EPS. As a group, research analysts anticipate that Ensco Plc will post -5.95 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Stockholders of record on Monday, March 11th were given a $0.01 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.26%. Ensco’s payout ratio is -2.99%.

Institutional investors have recently bought and sold shares of the company. Hosking Partners LLP boosted its position in shares of Ensco by 8.6% in the 4th quarter. Hosking Partners LLP now owns 2,528,562 shares of the offshore drilling services provider’s stock worth $9,002,000 after purchasing an additional 200,387 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of Ensco by 5.0% in the 3rd quarter. Renaissance Technologies LLC now owns 4,504,429 shares of the offshore drilling services provider’s stock worth $38,017,000 after purchasing an additional 214,475 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Ensco by 95.1% in the 4th quarter. Private Advisor Group LLC now owns 22,300 shares of the offshore drilling services provider’s stock worth $79,000 after purchasing an additional 10,871 shares in the last quarter. Alps Advisors Inc. boosted its position in shares of Ensco by 14.8% in the 4th quarter. Alps Advisors Inc. now owns 154,509 shares of the offshore drilling services provider’s stock worth $550,000 after purchasing an additional 19,862 shares in the last quarter. Finally, Vanguard Group Inc boosted its position in shares of Ensco by 0.9% in the 3rd quarter. Vanguard Group Inc now owns 38,680,474 shares of the offshore drilling services provider’s stock worth $326,463,000 after purchasing an additional 336,835 shares in the last quarter. 98.83% of the stock is owned by hedge funds and other institutional investors.

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Ensco Company Profile (NYSE:ESV)

Ensco Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its business through the following segments: Floaters, Jackups, and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service.

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