The Manufacturers Life Insurance Company Has $3.42 Million Stake in Ensco Plc (ESV)

The Manufacturers Life Insurance Company grew its position in Ensco Plc (NYSE:ESV) by 54.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 663,553 shares of the offshore drilling services provider’s stock after purchasing an additional 233,604 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.22% of Ensco Plc worth $3,424,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Cipher Capital LP raised its stake in Ensco Plc by 98.4% during the 2nd quarter. Cipher Capital LP now owns 466,177 shares of the offshore drilling services provider’s stock worth $2,405,000 after acquiring an additional 231,157 shares in the last quarter. Contrarius Investment Management Ltd raised its stake in Ensco Plc by 114.5% during the 2nd quarter. Contrarius Investment Management Ltd now owns 7,638,005 shares of the offshore drilling services provider’s stock worth $39,412,000 after acquiring an additional 4,077,861 shares in the last quarter. First Trust Advisors LP raised its stake in Ensco Plc by 209.0% during the 2nd quarter. First Trust Advisors LP now owns 1,116,657 shares of the offshore drilling services provider’s stock worth $5,762,000 after acquiring an additional 755,250 shares in the last quarter. South Dakota Investment Council raised its stake in Ensco Plc by 19.1% during the 2nd quarter. South Dakota Investment Council now owns 487,200 shares of the offshore drilling services provider’s stock worth $2,514,000 after acquiring an additional 78,100 shares in the last quarter. Finally, BlueMountain Capital Management LLC raised its stake in Ensco Plc by 66.4% during the 2nd quarter. BlueMountain Capital Management LLC now owns 799,721 shares of the offshore drilling services provider’s stock worth $4,127,000 after acquiring an additional 319,031 shares in the last quarter. Institutional investors and hedge funds own 91.56% of the company’s stock.

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Ensco Plc (NYSE:ESV) last released its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. The firm had revenue of $460.00 million for the quarter, compared to analysts’ expectations of $457.79 million. Ensco Plc had a negative net margin of 3.04% and a negative return on equity of 0.37%. Ensco Plc’s quarterly revenue was down 16.1% on a year-over-year basis. During the same quarter last year, the company earned $0.28 EPS.

ESV has been the topic of several research analyst reports. FBR & Co cut their price target on shares of Ensco Plc from $9.00 to $6.00 and set a “neutral” rating on the stock in a research note on Friday, October 27th. Nordea Equity Research restated a “buy” rating and issued a $8.00 price objective on shares of Ensco Plc in a research note on Saturday, September 30th. Zacks Investment Research lowered shares of Ensco Plc from a “hold” rating to a “sell” rating in a research note on Thursday, October 12th. Deutsche Bank AG initiated coverage on shares of Ensco Plc in a research note on Tuesday, October 10th. They issued a “hold” rating and a $6.00 price objective on the stock. Finally, ValuEngine upgraded shares of Ensco Plc from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $8.47.

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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Institutional Ownership by Quarter for Ensco Plc (NYSE:ESV)

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