Fairfield Bush & CO. reduced its stake in shares of Ensco Plc (NYSE:ESV) by 5.0% during the 3rd quarter, HoldingsChannel reports. The fund owned 544,794 shares of the offshore drilling services provider’s stock after selling 28,447 shares during the period. Ensco accounts for 1.3% of Fairfield Bush & CO.’s holdings, making the stock its 25th biggest position. Fairfield Bush & CO.’s holdings in Ensco were worth $4,598,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of the company. FMR LLC grew its holdings in shares of Ensco by 6.9% during the 2nd quarter. FMR LLC now owns 34,395,479 shares of the offshore drilling services provider’s stock valued at $249,712,000 after acquiring an additional 2,213,621 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Ensco by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 30,453,455 shares of the offshore drilling services provider’s stock valued at $221,091,000 after acquiring an additional 368,448 shares in the last quarter. BlackRock Inc. grew its holdings in shares of Ensco by 2.3% during the 3rd quarter. BlackRock Inc. now owns 29,626,647 shares of the offshore drilling services provider’s stock valued at $250,048,000 after acquiring an additional 663,521 shares in the last quarter. Majedie Asset Management Ltd boosted its holdings in Ensco by 7.2% in the third quarter. Majedie Asset Management Ltd now owns 18,197,587 shares of the offshore drilling services provider’s stock worth $153,588,000 after purchasing an additional 1,225,730 shares in the last quarter. Finally, Contrarius Investment Management Ltd boosted its holdings in Ensco by 22.8% in the second quarter. Contrarius Investment Management Ltd now owns 14,709,917 shares of the offshore drilling services provider’s stock worth $106,794,000 after purchasing an additional 2,730,330 shares in the last quarter. Institutional investors and hedge funds own 96.71% of the company’s stock.
ESV has been the subject of a number of recent research reports. Johnson Rice upgraded shares of Ensco from an “accumulate” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Wednesday, October 17th. BTIG Research initiated coverage on shares of Ensco in a report on Monday, September 17th. They issued a “buy” rating and a $10.00 price objective for the company. Societe Generale upgraded shares of Ensco from a “hold” rating to a “buy” rating in a report on Friday, October 12th. UBS Group set a $12.00 price objective on shares of Ensco and gave the stock a “buy” rating in a report on Wednesday, October 10th. Finally, Wells Fargo & Co reiterated a “buy” rating on shares of Ensco in a report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Ensco has a consensus rating of “Hold” and a consensus target price of $8.74.
Ensco (NYSE:ESV) last released its earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.35) by $0.02. The firm had revenue of $431.00 million during the quarter, compared to analyst estimates of $424.66 million. Ensco had a negative net margin of 36.53% and a negative return on equity of 5.98%. The business’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.05) EPS. Equities research analysts expect that Ensco Plc will post -1.32 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date of this dividend is Friday, November 30th. Ensco’s dividend payout ratio is -7.69%.
In other Ensco news, VP Steven Joseph Brady sold 4,500 shares of the business’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $6.22, for a total transaction of $27,990.00. Following the completion of the transaction, the vice president now owns 314,864 shares of the company’s stock, valued at approximately $1,958,454.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.72% of the stock is owned by insiders.
Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.
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