Ensco Plc (ESV) Upgraded by Piper Jaffray Companies to Overweight
Ensco Plc (NYSE:ESV) was upgraded by analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Monday, MarketBeat reports.
ESV has been the subject of several other reports. Jefferies Group LLC reduced their target price on Ensco Plc from $12.00 to $11.50 and set a “hold” rating for the company in a report on Wednesday, March 1st. BidaskClub raised Ensco Plc from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Clarkson Capital raised Ensco Plc from a “neutral” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Tuesday, May 30th. Credit Suisse Group set a $15.00 price objective on Ensco Plc and gave the company a “buy” rating in a report on Tuesday, February 28th. Finally, Seaport Global Securities raised Ensco Plc from a “sell” rating to a “neutral” rating and set a $6.50 price objective for the company in a report on Wednesday, May 31st. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $10.82.
Shares of Ensco Plc (NYSE ESV) traded down 0.263% on Monday, hitting $5.695. The stock had a trading volume of 8,740,178 shares. Ensco Plc has a 52 week low of $5.58 and a 52 week high of $12.04. The company has a market capitalization of $1.73 billion, a price-to-earnings ratio of 2.500 and a beta of 1.64. The company has a 50-day moving average of $6.95 and a 200 day moving average of $9.13.
Ensco Plc (NYSE:ESV) last released its earnings results on Thursday, April 27th. The offshore drilling services provider reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.06. The company had revenue of $471.10 million during the quarter, compared to analyst estimates of $468.78 million. Ensco Plc had a return on equity of 3.07% and a net margin of 28.32%. On average, equities research analysts predict that Ensco Plc will post ($0.23) EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 16th. Investors of record on Monday, June 5th were given a $0.01 dividend. The ex-dividend date of this dividend was Thursday, June 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.70%. Ensco Plc’s dividend payout ratio (DPR) is presently 1.69%.
Several large investors have recently modified their holdings of ESV. Achmea Investment Management B.V. acquired a new stake in shares of Ensco Plc during the first quarter worth about $2,922,000. Kovitz Investment Group Partners LLC increased its stake in shares of Ensco Plc by 1.9% in the first quarter. Kovitz Investment Group Partners LLC now owns 230,106 shares of the offshore drilling services provider’s stock worth $2,060,000 after buying an additional 4,371 shares during the period. HighTower Advisors LLC increased its stake in shares of Ensco Plc by 2.2% in the first quarter. HighTower Advisors LLC now owns 23,177 shares of the offshore drilling services provider’s stock worth $209,000 after buying an additional 500 shares during the period. Credit Suisse AG increased its stake in shares of Ensco Plc by 6.7% in the first quarter. Credit Suisse AG now owns 506,719 shares of the offshore drilling services provider’s stock worth $4,534,000 after buying an additional 31,857 shares during the period. Finally, Paloma Partners Management Co increased its stake in shares of Ensco Plc by 128.2% in the first quarter. Paloma Partners Management Co now owns 238,063 shares of the offshore drilling services provider’s stock worth $2,131,000 after buying an additional 133,746 shares during the period. Institutional investors own 91.74% of the company’s stock.
Ensco Plc 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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