CIBC World Markets Inc. Takes $1.63 Million Position in Ensco Plc (ESV)

CIBC World Markets Inc. purchased a new position in Ensco Plc (NYSE:ESV) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 192,892 shares of the offshore drilling services provider’s stock, valued at approximately $1,628,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Timber Hill LLC purchased a new position in Ensco during the 3rd quarter worth $106,000. Wetherby Asset Management Inc. purchased a new position in Ensco during the 3rd quarter worth $107,000. Vanguard Capital Wealth Advisors purchased a new position in Ensco during the 2nd quarter worth $111,000. Deprince Race & Zollo Inc. purchased a new position in Ensco during the 3rd quarter worth $127,000. Finally, Essex Investment Management Co. LLC purchased a new position in Ensco during the 3rd quarter worth $129,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

In other news, VP Steven Joseph Brady sold 4,500 shares of Ensco stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total value of $27,990.00. Following the transaction, the vice president now directly owns 314,864 shares in the company, valued at approximately $1,958,454.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.72% of the company’s stock.

ESV has been the topic of several research reports. ValuEngine upgraded Ensco from a “buy” rating to a “strong-buy” rating in a report on Tuesday, September 4th. Cowen initiated coverage on Ensco in a report on Saturday, October 13th. They set a “hold” rating and a $7.00 price objective on the stock. Wells Fargo & Co restated a “buy” rating on shares of Ensco in a report on Friday, November 2nd. Piper Jaffray Companies set a $9.00 price objective on Ensco and gave the stock a “hold” rating in a report on Sunday, November 4th. Finally, UBS Group set a $12.00 price objective on Ensco and gave the stock a “buy” rating in a report on Wednesday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $8.89.

Shares of NYSE:ESV opened at $5.67 on Monday. Ensco Plc has a 12-month low of $4.10 and a 12-month high of $9.51. The firm has a market capitalization of $2.48 billion, a PE ratio of -10.90 and a beta of 1.83. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.60.

Ensco (NYSE:ESV) last announced its quarterly earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.35) by $0.02. Ensco had a negative return on equity of 5.98% and a negative net margin of 36.53%. The business had revenue of $431.00 million for the quarter, compared to the consensus estimate of $424.66 million. During the same period last year, the business posted ($0.05) EPS. The business’s revenue was down 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Ensco Plc will post -1.32 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 3rd will be issued a $0.01 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.71%. Ensco’s dividend payout ratio is presently -7.69%.

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Ensco 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.

Further Reading: Cash Flow Analysis in Stock Selection

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Institutional Ownership by Quarter for Ensco (NYSE:ESV)

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