Wright Investors Service Inc. cut its stake in shares of ENSCO PLC (NYSE:ESV) by 71.5% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,927 shares of the offshore drilling services provider’s stock after selling 42,423 shares during the period. Wright Investors Service Inc.’s holdings in ENSCO PLC were worth $101,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Cipher Capital LP raised its position in shares of ENSCO PLC by 98.4% during the second quarter. Cipher Capital LP now owns 466,177 shares of the offshore drilling services provider’s stock worth $2,405,000 after purchasing an additional 231,157 shares during the period. Contrarius Investment Management Ltd raised its position in shares of ENSCO PLC by 114.5% during the second quarter. Contrarius Investment Management Ltd now owns 7,638,005 shares of the offshore drilling services provider’s stock worth $39,412,000 after purchasing an additional 4,077,861 shares during the period. First Trust Advisors LP raised its position in shares of ENSCO PLC by 209.0% during the second quarter. First Trust Advisors LP now owns 1,116,657 shares of the offshore drilling services provider’s stock worth $5,762,000 after purchasing an additional 755,250 shares during the period. South Dakota Investment Council raised its position in ENSCO PLC by 19.1% during the second quarter. South Dakota Investment Council now owns 487,200 shares of the offshore drilling services provider’s stock valued at $2,514,000 after buying an additional 78,100 shares during the period. Finally, BlueMountain Capital Management LLC raised its position in ENSCO PLC by 66.4% during the second quarter. BlueMountain Capital Management LLC now owns 799,721 shares of the offshore drilling services provider’s stock valued at $4,127,000 after buying an additional 319,031 shares during the period. 91.56% of the stock is currently owned by institutional investors.
Several research firms recently weighed in on ESV. Zacks Investment Research lowered ENSCO PLC from a “hold” rating to a “sell” rating in a research report on Monday. Jefferies Group LLC set a $6.00 price target on ENSCO PLC and gave the company a “hold” rating in a research report on Sunday. FBR & Co dropped their price target on ENSCO PLC from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Piper Jaffray Companies restated a “buy” rating and issued a $6.10 target price on shares of ENSCO PLC in a research note on Sunday, October 22nd. Finally, Cowen and Company set a $4.00 target price on ENSCO PLC and gave the company a “hold” rating in a research note on Wednesday, October 18th. Six analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company. ENSCO PLC has a consensus rating of “Hold” and an average price target of $8.47.
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ENSCO PLC (NYSE:ESV) last posted its quarterly earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.11. ENSCO PLC had a negative return on equity of 0.37% and a negative net margin of 3.04%. The business had revenue of $460.00 million during the quarter, compared to analysts’ expectations of $457.79 million. During the same quarter last year, the company posted $0.28 earnings per share. ENSCO PLC’s quarterly revenue was down 16.1% on a year-over-year basis.
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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