ENSCO PLC (ESV) Stake Boosted by Contrarius Investment Management Ltd
Contrarius Investment Management Ltd increased its stake in ENSCO PLC (NYSE:ESV) by 114.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,638,005 shares of the offshore drilling services provider’s stock after buying an additional 4,077,861 shares during the period. ENSCO PLC comprises 2.6% of Contrarius Investment Management Ltd’s portfolio, making the stock its 16th largest position. Contrarius Investment Management Ltd owned 2.51% of ENSCO PLC worth $39,412,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. ZWJ Investment Counsel Inc. raised 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 buying an additional 180 shares during the period. Creative Planning raised its position in ENSCO PLC by 4.8% in the first quarter. Creative Planning now owns 13,135 shares of the offshore drilling services provider’s stock valued at $118,000 after buying an additional 601 shares during the period. Tyers Asset Management LLC raised its position in ENSCO PLC by 2.7% in the first quarter. Tyers Asset Management LLC now owns 13,748 shares of the offshore drilling services provider’s stock valued at $123,000 after buying an additional 364 shares during the period. HRT Financial LLC bought a new position in ENSCO PLC during the first quarter valued at $126,000. Finally, First Manhattan Co. raised its position in ENSCO PLC by 72.6% in the first quarter. First Manhattan Co. now owns 14,260 shares of the offshore drilling services provider’s stock valued at $121,000 after buying an additional 6,000 shares during the period. 91.56% of the stock is currently owned by hedge funds and other institutional investors.
ENSCO PLC (NYSE:ESV) traded up 5.94% during mid-day trading on Tuesday, reaching $4.64. The company had a trading volume of 4,369,249 shares. ENSCO PLC has a 12-month low of $4.10 and a 12-month high of $12.04. The stock has a 50-day moving average of $4.94 and a 200 day moving average of $7.18. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of 29.00 and a beta of 1.64.
ENSCO PLC (NYSE:ESV) last posted its quarterly earnings data on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.02. The firm had revenue of $457.50 million during the quarter, compared to analyst estimates of $453.48 million. ENSCO PLC had a return on equity of 0.77% and a net margin of 2.68%. ENSCO PLC’s revenue was down 49.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 EPS. On average, analysts expect that ENSCO PLC will post ($0.33) EPS for the current year.
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Several research analysts have weighed in on the company. Jefferies Group LLC set a $9.00 price target on ENSCO PLC and gave the stock a “hold” rating in a research report on Saturday, July 1st. ValuEngine lowered ENSCO PLC from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Seaport Global Securities raised ENSCO PLC from a “sell” rating to a “neutral” rating and set a $6.50 price target on the stock in a research report on Wednesday, May 31st. BMO Capital Markets reaffirmed a “hold” rating and set a $4.75 price target on shares of ENSCO PLC in a research report on Tuesday, July 11th. Finally, BidaskClub lowered ENSCO PLC from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Five investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $9.85.
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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