Ensco (ESV) Stock Price Up 5.5%

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Shares of Ensco Plc (NYSE:ESV) rose 5.5% on Friday . The company traded as high as $13.27 and last traded at $13.21. Approximately 6,390,136 shares changed hands during trading, an increase of 67% from the average daily volume of 3,832,313 shares. The stock had previously closed at $12.52.

ESV has been the subject of a number of research reports. Credit Suisse Group restated a “buy” rating and set a $6.00 target price on shares of Ensco in a report on Monday, January 14th. DNB Markets upgraded shares of Ensco from a “hold” rating to a “buy” rating in a report on Wednesday, January 9th. Wells Fargo & Co restated a “buy” rating on shares of Ensco in a report on Friday, March 1st. HSBC upgraded shares of Ensco from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Friday, March 8th. Finally, ValuEngine upgraded shares of Ensco from a “hold” rating to a “buy” rating in a report on Monday, April 1st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $8.96.

The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $1.53 billion, a P/E ratio of -2.46 and a beta of 2.09.

Ensco (NYSE:ESV) last posted its quarterly earnings data on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) EPS for the quarter, topping analysts’ consensus estimates of ($1.79) by $0.10. Ensco had a negative net margin of 37.51% and a negative return on equity of 6.95%. The firm had revenue of $405.90 million during the quarter, compared to analyst estimates of $405.12 million. During the same quarter last year, the business posted ($0.32) EPS. The company’s revenue was down 2.7% on a year-over-year basis. As a group, equities research analysts predict that Ensco Plc will post -5.94 earnings per share for the current year.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in 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 during the period. BlackRock Inc. boosted its stake in Ensco by 3.0% in the 4th quarter. BlackRock Inc. now owns 30,509,788 shares of the offshore drilling services provider’s stock worth $108,617,000 after purchasing an additional 883,141 shares during the period. Contrarius Investment Management Ltd boosted its stake in Ensco by 4.7% in the 4th quarter. Contrarius Investment Management Ltd now owns 19,667,693 shares of the offshore drilling services provider’s stock worth $70,017,000 after purchasing an additional 879,497 shares during the period. Elephas Investment Management Ltd boosted its stake in Ensco by 1,573.7% in the 4th quarter. Elephas Investment Management Ltd now owns 8,859,379 shares of the offshore drilling services provider’s stock worth $31,539,000 after purchasing an additional 8,330,054 shares during the period. Finally, Van ECK Associates Corp boosted its stake in Ensco by 76.7% in the 4th quarter. Van ECK Associates Corp now owns 8,364,454 shares of the offshore drilling services provider’s stock worth $29,777,000 after purchasing an additional 3,629,804 shares during the period.

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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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