Ensco Plc (ESV) Stake Decreased by Schwab Charles Investment Management Inc.
Schwab Charles Investment Management Inc. lessened its stake in shares of Ensco Plc (NYSE:ESV) by 55.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,477,553 shares of the offshore drilling services provider’s stock after selling 1,846,168 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in Ensco were worth $10,728,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Fox Run Management L.L.C. purchased a new stake in shares of Ensco during the 2nd quarter worth approximately $219,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Ensco during the 2nd quarter worth approximately $857,000. Elephas Investment Management Ltd purchased a new stake in shares of Ensco during the 1st quarter worth approximately $35,764,000. Strs Ohio lifted its position in shares of Ensco by 47.6% during the 2nd quarter. Strs Ohio now owns 1,085,000 shares of the offshore drilling services provider’s stock worth $7,877,000 after buying an additional 350,000 shares during the last quarter. Finally, Whittier Trust Co. lifted its position in shares of Ensco by 1,407.5% during the 2nd quarter. Whittier Trust Co. now owns 46,551 shares of the offshore drilling services provider’s stock worth $2,586,000 after buying an additional 43,463 shares during the last quarter. Institutional investors and hedge funds own 97.59% of the company’s stock.
Several brokerages have recently weighed in on ESV. Barclays boosted their price objective on shares of Ensco from $4.00 to $5.00 and gave the stock an “underweight” rating in a research report on Thursday, August 9th. ValuEngine upgraded shares of Ensco from a “hold” rating to a “buy” rating in a research report on Tuesday, June 5th. Citigroup upped their price target on shares of Ensco from $5.25 to $6.40 and gave the company a “neutral” rating in a research report on Thursday, June 21st. Susquehanna Bancshares set a $8.00 price target on shares of Ensco and gave the company a “hold” rating in a research report on Friday, July 27th. Finally, Piper Jaffray Companies reiterated a “hold” rating and issued a $6.25 price target on shares of Ensco in a research report on Friday, July 20th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.86.
Ensco (NYSE:ESV) last released its quarterly earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.03. The firm had revenue of $458.50 million during the quarter, compared to the consensus estimate of $449.69 million. Ensco had a negative net margin of 29.25% and a negative return on equity of 4.51%. Ensco’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.10) EPS. research analysts anticipate that Ensco Plc will post -1.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Monday, September 10th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.04 dividend on an annualized basis and a yield of 0.50%. Ensco’s payout ratio is currently -7.69%.
Ensco Company Profile
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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