Capital International Investors Grows Position in ENSCO PLC (ESV)
Capital International Investors boosted its position in shares of ENSCO PLC (NYSE:ESV) by 181.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,606,503 shares of the offshore drilling services provider’s stock after purchasing an additional 6,838,484 shares during the period. Capital International Investors owned 3.49% of ENSCO PLC worth $54,730,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ESV. Swiss National Bank grew its stake in ENSCO PLC by 0.8% in the first quarter. Swiss National Bank now owns 499,438 shares of the offshore drilling services provider’s stock valued at $4,470,000 after purchasing an additional 4,100 shares in the last quarter. Cipher Capital LP increased its position in ENSCO PLC by 98.4% in the 2nd 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 last quarter. Envestnet Asset Management Inc. increased its position in ENSCO PLC by 20.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 37,896 shares of the offshore drilling services provider’s stock worth $339,000 after purchasing an additional 6,436 shares during the last quarter. Contrarius Investment Management Ltd increased its position in ENSCO PLC by 114.5% in 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 purchasing an additional 4,077,861 shares during the last quarter. Finally, First Trust Advisors LP increased its position in ENSCO PLC by 209.0% in 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 purchasing an additional 755,250 shares during the last quarter. 91.56% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on the company. Piper Jaffray Companies upgraded ENSCO PLC from a “neutral” rating to an “overweight” rating and dropped their price objective for the stock from $9.20 to $8.00 in a report on Monday, June 19th. ValuEngine upgraded shares of ENSCO PLC from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub raised shares of ENSCO PLC from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Bank of America Corporation cut shares of ENSCO PLC from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $7.00 to $5.00 in a report on Friday, June 30th. Finally, Seaport Global Securities reissued a “sell” rating on shares of ENSCO PLC in a research report on Wednesday, July 12th. Five equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $9.47.
ENSCO PLC (NYSE:ESV) traded up 1.36% on Wednesday, reaching $5.97. 3,690,352 shares of the company traded hands. ENSCO PLC has a 52-week low of $4.10 and a 52-week high of $12.04. The stock has a 50-day moving average price of $4.89 and a 200-day moving average price of $6.26. The firm has a market cap of $1.81 billion, a P/E ratio of 37.31 and a beta of 1.75.
ENSCO PLC (NYSE:ESV) last released its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. ENSCO PLC had a return on equity of 0.77% and a net margin of 2.68%. The business had revenue of $457.50 million during the quarter, compared to the consensus estimate of $453.48 million. During the same period in the previous year, the company posted $2.04 EPS. The firm’s quarterly revenue was down 49.7% on a year-over-year basis. Analysts anticipate that ENSCO PLC will post ($0.38) earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Shareholders of record on Monday, September 11th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.68%. The ex-dividend date of this dividend was Friday, September 8th. ENSCO PLC’s payout ratio is 23.53%.
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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