Ensco (ESV) Bonds Trading 2.6% Lower

An issue of Ensco Plc (NYSE:ESV) bonds fell 2.6% against their face value during trading on Friday. The high-yield issue of debt has a 4.5% coupon and is set to mature on October 1, 2024. The bonds in the issue are now trading at $79.38 and were trading at $86.00 one week ago. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.

Several research analysts have weighed in on the stock. B. Riley reissued a “neutral” rating on shares of Ensco in a report on Wednesday, November 1st. Cowen set a $6.00 price target on shares of Ensco and gave the stock a “hold” rating in a research report on Thursday, January 11th. Goldman Sachs Group initiated coverage on shares of Ensco in a research report on Friday, October 13th. They issued a “buy” rating and a $8.00 price target on the stock. Piper Jaffray Companies restated a “buy” rating and issued a $6.10 price target on shares of Ensco in a research report on Sunday, October 22nd. Finally, FBR & Co restated a “hold” rating on shares of Ensco in a research report on Thursday, October 19th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the company. Ensco presently has an average rating of “Hold” and a consensus price target of $7.52.

Shares of Ensco Plc (NYSE ESV) traded down $0.01 during trading hours on Friday, reaching $4.91. 21,232,363 shares of the company traded hands, compared to its average volume of 14,030,000. The company has a market cap of $2,140.00, a P/E ratio of -21.35 and a beta of 1.74. Ensco Plc has a 12-month low of $4.10 and a 12-month high of $11.26. The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.04 and a current ratio of 5.04.

A number of large investors have recently modified their holdings of the stock. BlackRock Inc. lifted its position in Ensco by 45.4% in the 4th quarter. BlackRock Inc. now owns 48,257,622 shares of the offshore drilling services provider’s stock valued at $285,202,000 after purchasing an additional 15,071,031 shares during the last quarter. Majedie Asset Management Ltd lifted its position in Ensco by 182.2% in the 4th quarter. Majedie Asset Management Ltd now owns 18,008,535 shares of the offshore drilling services provider’s stock valued at $106,430,000 after purchasing an additional 11,626,102 shares during the last quarter. Capital International Investors lifted its position in Ensco by 49.1% in the 3rd quarter. Capital International Investors now owns 15,811,810 shares of the offshore drilling services provider’s stock valued at $94,397,000 after purchasing an additional 5,205,307 shares during the last quarter. Capital Guardian Trust Co. lifted its position in Ensco by 22.9% in the 3rd quarter. Capital Guardian Trust Co. now owns 13,074,290 shares of the offshore drilling services provider’s stock valued at $78,054,000 after purchasing an additional 2,437,145 shares during the last quarter. Finally, State Street Corp lifted its position in Ensco by 1.6% in the 2nd quarter. State Street Corp now owns 12,112,020 shares of the offshore drilling services provider’s stock valued at $62,497,000 after purchasing an additional 192,165 shares during the last quarter. Hedge funds and other institutional investors own 76.80% of the company’s stock.

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Ensco 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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