Ensco Plc (ESV) Stock Rating Reaffirmed by BMO Capital Markets

BMO Capital Markets reaffirmed their hold rating on shares of Ensco Plc (NYSE:ESV) in a report released on Tuesday morning. The brokerage currently has a $4.75 target price on the offshore drilling services provider’s stock.

A number of other brokerages have also weighed in on ESV. Barclays PLC restated a sell rating and issued a $8.00 target price on shares of Ensco Plc in a research report on Thursday, April 27th. Tudor Pickering started coverage on shares of Ensco Plc in a research report on Thursday, March 23rd. They issued a hold rating on the stock. Scotiabank set a $13.00 target price on shares of Ensco Plc and gave the company a buy rating in a research report on Wednesday, March 22nd. BidaskClub lowered shares of Ensco Plc from a sell rating to a strong sell rating in a research report on Thursday, June 22nd. Finally, Piper Jaffray Companies upgraded shares of Ensco Plc from a neutral rating to an overweight rating and cut their target price for the company from $9.20 to $8.00 in a research report on Monday, June 19th. Seven equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of $9.79.

Ensco Plc (NYSE:ESV) traded up 1.35% on Tuesday, reaching $5.25. The company’s stock had a trading volume of 12,645,799 shares. The firm’s 50 day moving average is $6.35 and its 200-day moving average is $8.84. Ensco Plc has a 12 month low of $4.71 and a 12 month high of $12.04. The firm has a market cap of $1.59 billion, a P/E ratio of 2.30 and a beta of 1.64.

Ensco Plc (NYSE:ESV) last issued its 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 net margin of 28.32% and a return on equity of 3.07%. The firm had revenue of $471.10 million for the quarter, compared to analyst estimates of $468.78 million. On average, equities research analysts anticipate that Ensco Plc will post ($0.24) EPS for the current year.

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Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its position in Ensco Plc by 39.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 819,148 shares of the offshore drilling services provider’s stock valued at $7,962,000 after buying an additional 231,190 shares during the last quarter. FMR LLC raised its position in Ensco Plc by 85.3% in the fourth quarter. FMR LLC now owns 1,375,636 shares of the offshore drilling services provider’s stock valued at $13,371,000 after buying an additional 633,446 shares during the last quarter. Franklin Resources Inc. raised its position in Ensco Plc by 137.7% in the fourth quarter. Franklin Resources Inc. now owns 486,152 shares of the offshore drilling services provider’s stock valued at $4,725,000 after buying an additional 281,600 shares during the last quarter. Tudor Investment Corp Et Al raised its position in Ensco Plc by 152.6% in the fourth quarter. Tudor Investment Corp Et Al now owns 31,852 shares of the offshore drilling services provider’s stock valued at $310,000 after buying an additional 19,241 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in Ensco Plc by 15.4% in the fourth quarter. Guggenheim Capital LLC now owns 314,210 shares of the offshore drilling services provider’s stock valued at $3,054,000 after buying an additional 42,028 shares during the last quarter. Institutional investors and hedge funds own 91.45% of the company’s stock.

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.

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