Ensco Plc (ESV) Stake Boosted by D.A. Davidson & CO.
D.A. Davidson & CO. lifted its holdings in Ensco Plc (NYSE:ESV) by 36.2% in the third quarter, HoldingsChannel.com reports. The fund owned 35,950 shares of the offshore drilling services provider’s stock after buying an additional 9,550 shares during the quarter. D.A. Davidson & CO.’s holdings in Ensco were worth $303,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Glacier Peak Capital LLC boosted its stake in Ensco by 339.1% during the third quarter. Glacier Peak Capital LLC now owns 596,675 shares of the offshore drilling services provider’s stock valued at $5,036,000 after buying an additional 460,775 shares during the last quarter. Trexquant Investment LP bought a new position in Ensco during the third quarter valued at approximately $2,206,000. CIBC World Markets Inc. bought a new position in Ensco during the third quarter valued at approximately $1,628,000. FIL Ltd boosted its stake in Ensco by 61.1% during the third quarter. FIL Ltd now owns 104,318 shares of the offshore drilling services provider’s stock valued at $881,000 after buying an additional 39,565 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Ensco by 1.0% during the third quarter. American International Group Inc. now owns 880,627 shares of the offshore drilling services provider’s stock valued at $7,432,000 after buying an additional 9,026 shares during the last quarter. 96.71% of the stock is owned by hedge funds and other institutional investors.
Shares of ESV stock opened at $5.15 on Friday. Ensco Plc has a 1 year low of $4.10 and a 1 year high of $9.51. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.58 and a quick ratio of 2.58.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Stockholders of record on Monday, December 3rd will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.78%. Ensco’s payout ratio is -7.69%.
In other news, VP Steven Joseph Brady sold 4,500 shares of the stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total value of $27,990.00. Following the sale, the vice president now directly owns 314,864 shares in the company, valued at $1,958,454.08. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.72% of the company’s stock.
A number of brokerages recently commented on ESV. DNB Markets raised Ensco from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. JPMorgan Chase & Co. raised Ensco from an “underweight” rating to a “neutral” rating and set a $8.00 price target for the company in a research note on Friday, October 12th. Jefferies Financial Group restated a “hold” rating and set a $9.00 price objective on shares of Ensco in a research report on Sunday, October 21st. Piper Jaffray Companies restated a “hold” rating and set a $8.00 price objective on shares of Ensco in a research report on Monday, October 1st. Finally, Wells Fargo & Co restated a “buy” rating on shares of Ensco in a research report on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $8.74.
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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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