UBS Group set a $12.00 target price on Ensco (NYSE:ESV) in a research report sent to investors on Wednesday morning, www.stocktargetadvisor.com reports. The brokerage currently has a buy rating on the offshore drilling services provider’s stock.
Several other equities research analysts have also commented on ESV. Citigroup boosted their price objective on shares of Ensco from $5.25 to $6.40 and gave the stock a neutral rating in a research note on Thursday, June 21st. ValuEngine raised shares of Ensco from a buy rating to a strong-buy rating in a research note on Thursday, June 28th. Tudor Pickering raised shares of Ensco from a hold rating to a buy rating in a research note on Thursday, July 12th. Piper Jaffray Companies reissued a hold rating and set a $6.25 price objective on shares of Ensco in a research note on Friday, July 20th. Finally, Susquehanna Bancshares set a $8.00 price objective on shares of Ensco and gave the stock a hold rating in a research note on Friday, July 27th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of $7.58.
NYSE:ESV traded up $0.15 during mid-day trading on Wednesday, hitting $8.71. 12,599,981 shares of the company’s stock were exchanged, compared to its average volume of 13,426,096. Ensco has a one year low of $4.10 and a one year high of $9.51. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.66 and a quick ratio of 2.66. The firm has a market capitalization of $3.69 billion, a P/E ratio of -16.75 and a beta of 1.86.
Ensco (NYSE:ESV) last posted its quarterly earnings data on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) EPS for the quarter, topping the consensus estimate of ($0.33) by $0.03. Ensco had a negative net margin of 29.25% and a negative return on equity of 4.51%. The business had revenue of $458.50 million for the quarter, compared to analyst estimates of $449.69 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. Ensco’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research analysts expect that Ensco will post -1.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 21st. Stockholders of record on Monday, September 10th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $0.04 annualized dividend and a dividend yield of 0.46%. Ensco’s dividend payout ratio is presently -7.69%.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Hellman Jordan Management Co. Inc. MA increased its holdings in Ensco by 509.7% during the second quarter. Hellman Jordan Management Co. Inc. MA now owns 94,500 shares of the offshore drilling services provider’s stock valued at $686,000 after buying an additional 79,000 shares during the last quarter. Energy Opportunities Capital Management LLC increased its holdings in Ensco by 166.0% during the second quarter. Energy Opportunities Capital Management LLC now owns 585,785 shares of the offshore drilling services provider’s stock valued at $4,253,000 after buying an additional 365,590 shares during the last quarter. Odey Asset Management Group Ltd purchased a new stake in Ensco during the second quarter valued at approximately $19,720,000. Castleark Management LLC purchased a new stake in Ensco during the second quarter valued at approximately $4,223,000. Finally, GeoSphere Capital Management LLC purchased a new stake in Ensco during the second quarter valued at approximately $414,000. Hedge funds and other institutional investors own 97.58% of the company’s stock.
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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