Municipal Employees Retirement System of Michigan cut its stake in shares of Ensco Plc (NYSE:ESV) by 19.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 91,910 shares of the offshore drilling services provider’s stock after selling 22,530 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Ensco were worth $549,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Harvest Management LLC purchased a new position in shares of Ensco during the third quarter worth about $119,000. Crossmark Global Holdings Inc. purchased a new position in shares of Ensco during the third quarter worth about $121,000. GWM Advisors LLC purchased a new position in shares of Ensco during the second quarter worth about $107,000. Fox Run Management L.L.C. purchased a new position in shares of Ensco during the third quarter worth about $127,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new position in shares of Ensco during the second quarter worth about $116,000. Hedge funds and other institutional investors own 76.88% of the company’s stock.
Several research analysts have recently commented on ESV shares. ValuEngine raised Ensco from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Zacks Investment Research lowered Ensco from a “hold” rating to a “sell” rating in a report on Thursday, October 12th. FBR & Co cut their price objective on Ensco from $9.00 to $6.00 and set a “neutral” rating for the company in a report on Friday, October 27th. Piper Jaffray Companies reissued a “buy” rating and set a $6.10 price objective on shares of Ensco in a report on Sunday, October 22nd. Finally, Goldman Sachs Group began coverage on Ensco in a research note on Friday, October 13th. They issued a “buy” rating and a $8.00 target price for the company. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the stock. Ensco currently has an average rating of “Hold” and an average price target of $8.24.
Ensco (NYSE:ESV) last issued its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.11. The business had revenue of $460.00 million during the quarter, compared to analyst estimates of $457.79 million. Ensco had a negative return on equity of 0.37% and a negative net margin of 3.04%. Ensco’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.28 earnings per share. equities analysts predict that Ensco Plc will post -0.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Monday, December 4th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.68%. The ex-dividend date is Friday, December 1st. Ensco’s dividend payout ratio (DPR) is presently -21.05%.
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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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