UBS Oconnor LLC Raises Holdings in Ensco Plc (ESV)
UBS Oconnor LLC grew its position in shares of Ensco Plc (NYSE:ESV) by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 380,137 shares of the offshore drilling services provider’s stock after purchasing an additional 48,137 shares during the quarter. UBS Oconnor LLC owned approximately 0.13% of Ensco Plc worth $1,962,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. Swiss National Bank increased its position in shares of Ensco Plc by 0.8% during the first quarter. Swiss National Bank now owns 499,438 shares of the offshore drilling services provider’s stock worth $4,470,000 after purchasing an additional 4,100 shares in the last quarter. Cipher Capital LP lifted its holdings in shares of 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 valued at $2,405,000 after purchasing an additional 231,157 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Ensco Plc by 20.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 37,896 shares of the offshore drilling services provider’s stock valued at $339,000 after purchasing an additional 6,436 shares during the last quarter. Contrarius Investment Management Ltd lifted its holdings in shares of 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 valued at $39,412,000 after purchasing an additional 4,077,861 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of 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 valued at $5,762,000 after purchasing an additional 755,250 shares during the last quarter. 91.56% of the stock is currently owned by institutional investors.
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Shares of Ensco Plc (ESV) traded down 1.926% on Monday, reaching $5.855. 4,119,568 shares of the company’s stock traded hands. The company has a 50 day moving average price of $4.68 and a 200 day moving average price of $6.49. Ensco Plc has a 52 week low of $4.10 and a 52 week high of $12.04. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 36.594 and a beta of 1.74.
Ensco Plc (NYSE:ESV) last issued its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.02. Ensco Plc had a return on equity of 0.77% and a net margin of 2.68%. The company had revenue of $457.50 million for the quarter, compared to analyst estimates of $453.48 million. During the same period last year, the company earned $2.04 earnings per share. The company’s quarterly revenue was down 49.7% compared to the same quarter last year. On average, equities research analysts predict that Ensco Plc will post ($0.38) earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 22nd. Investors of record on Monday, September 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.67%. The ex-dividend date was Friday, September 8th. Ensco Plc’s payout ratio is currently 23.53%.
Several research analysts have commented on ESV shares. BMO Capital Markets lifted their price target on Ensco Plc from $4.75 to $5.00 and gave the stock a “market perform” rating in a research report on Friday, July 28th. ValuEngine downgraded Ensco Plc from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. BidaskClub downgraded Ensco Plc from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Piper Jaffray Companies upgraded shares of Ensco Plc from a “neutral” rating to an “overweight” rating and lowered their target price for the stock from $9.20 to $8.00 in a research report on Monday, June 19th. Finally, Bank of America Corporation lowered shares of Ensco Plc from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $7.00 to $5.00 in a research report on Friday, June 30th. Four analysts have rated the stock with a sell rating, seven have given a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $9.47.
Ensco Plc 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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