Shares of Ensco Plc (NYSE:ESV) gapped up before the market opened on Thursday . The stock had previously closed at $5.31, but opened at $5.43. Ensco Plc shares last traded at $5.57, with a volume of 6815400 shares.

ESV has been the subject of a number of research reports. BMO Capital Markets raised their target price on shares of Ensco Plc from $4.75 to $5.00 and gave the stock a “market perform” rating in a report on Friday, July 28th. ValuEngine downgraded shares of Ensco Plc from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. UBS AG upgraded shares of Ensco Plc from a “neutral” rating to a “buy” rating and upped their price target for the company from $6.00 to $8.00 in a research report on Monday, September 25th. Nordea Equity Research restated a “buy” rating and issued a $8.00 price target on shares of Ensco Plc in a research report on Saturday, September 30th. Finally, Deutsche Bank AG started coverage on shares of Ensco Plc in a research report on Tuesday, October 10th. They issued a “hold” rating and a $6.00 price target for the company. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Ensco Plc currently has a consensus rating of “Hold” and a consensus price target of $8.47.

The company has a debt-to-equity ratio of 0.58, a quick ratio of 5.04 and a current ratio of 5.04.

Ensco Plc (NYSE:ESV) last released its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.11. Ensco Plc had a negative net margin of 3.04% and a negative return on equity of 0.37%. The company had revenue of $460.00 million during the quarter, compared to the consensus estimate of $457.79 million. During the same quarter in the prior year, the firm earned $0.28 EPS. The company’s revenue was down 16.1% compared to the same quarter last year. analysts anticipate that Ensco Plc will post -0.51 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be given a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.73%. Ensco Plc’s payout ratio is -21.05%.

Hedge funds have recently added to or reduced their stakes in the business. Cipher Capital LP lifted 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 buying an additional 231,157 shares in the last quarter. Contrarius Investment Management Ltd lifted 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 buying an additional 4,077,861 shares in the last quarter. First Trust Advisors LP lifted 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 buying an additional 755,250 shares in the last quarter. South Dakota Investment Council lifted its position in Ensco Plc by 19.1% in the 2nd quarter. South Dakota Investment Council now owns 487,200 shares of the offshore drilling services provider’s stock worth $2,514,000 after buying an additional 78,100 shares in the last quarter. Finally, BlueMountain Capital Management LLC lifted its position in Ensco Plc by 66.4% in the 2nd quarter. BlueMountain Capital Management LLC now owns 799,721 shares of the offshore drilling services provider’s stock worth $4,127,000 after buying an additional 319,031 shares in the last quarter. Institutional investors own 91.09% of the company’s stock.

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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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