ENSCO PLC (ESV) Bonds Trading 1.8% Lower
An issue of ENSCO PLC (NYSE:ESV) bonds fell 1.8% as a percentage of their face value during trading on Monday. The debt issue has a 7.875% coupon and will mature on August 15, 2040. The bonds in the issue are now trading at $81.25 and were trading at $79.53 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
Several equities analysts have weighed in on ESV shares. Clarkson Capital upgraded shares of ENSCO PLC from a “neutral” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Tuesday, May 30th. Jefferies Group LLC reiterated a “hold” rating and set a $6.00 price objective (down from $9.00) on shares of ENSCO PLC in a research report on Tuesday, July 18th. BMO Capital Markets reiterated a “hold” rating and set a $4.75 price objective on shares of ENSCO PLC in a research report on Tuesday, July 11th. ValuEngine upgraded shares of ENSCO PLC from a “sell” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Seaport Global Securities upgraded shares of ENSCO PLC from a “sell” rating to a “neutral” rating and set a $6.50 price target on the stock in a report on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $9.68.
ENSCO PLC (ESV) traded up 5.17% during midday trading on Wednesday, hitting $5.49. 6,343,222 shares of the company traded hands. The stock’s 50-day moving average is $4.68 and its 200-day moving average is $6.49. The firm has a market capitalization of $1.67 billion, a PE ratio of 34.31 and a beta of 1.65. ENSCO PLC has a 12-month low of $4.10 and a 12-month high of $12.04.
ENSCO PLC (NYSE:ESV) last issued its quarterly earnings data on Thursday, July 27th. The offshore drilling services provider reported ($0.10) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.02. ENSCO PLC had a net margin of 2.68% and a return on equity of 0.77%. The company had revenue of $457.50 million during the quarter, compared to the consensus estimate of $453.48 million. During the same quarter in the prior year, the firm earned $2.04 earnings per share. The firm’s revenue was down 49.7% compared to the same quarter last year. Analysts anticipate that ENSCO PLC will post ($0.38) EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 22nd. Investors of record on Monday, September 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date of this dividend is Friday, September 8th. ENSCO PLC’s dividend payout ratio (DPR) is currently 23.53%.
Institutional investors have recently added to or reduced their stakes in the stock. ZWJ Investment Counsel Inc. grew its position in ENSCO PLC by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock valued at $104,000 after purchasing an additional 180 shares in the last quarter. GWM Advisors LLC bought a new position in ENSCO PLC in the second quarter valued at $107,000. Raymond James Financial Services Advisors Inc. bought a new position in ENSCO PLC in the second quarter valued at $116,000. Riverhead Capital Management LLC grew its position in ENSCO PLC by 94.3% in the second quarter. Riverhead Capital Management LLC now owns 23,905 shares of the offshore drilling services provider’s stock valued at $123,000 after purchasing an additional 11,605 shares in the last quarter. Finally, HRT Financial LLC bought a new position in ENSCO PLC in the first quarter valued at $126,000. 91.56% of the stock is owned by institutional investors and hedge funds.
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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