First Manhattan Co. lifted its stake in Ensco Plc (NYSE:ESV) by 11.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 368,910 shares of the offshore drilling services provider’s stock after buying an additional 38,950 shares during the quarter. First Manhattan Co. owned about 0.34% of Ensco worth $1,449,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of ESV. Wells Fargo & Company MN raised its stake in shares of Ensco by 248.4% in the third quarter. Wells Fargo & Company MN now owns 630,479 shares of the offshore drilling services provider’s stock worth $5,322,000 after buying an additional 449,514 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Ensco by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 5,788,929 shares of the offshore drilling services provider’s stock worth $48,858,000 after buying an additional 108,476 shares during the period. BlackRock Inc. raised its stake in shares of Ensco by 2.3% in the third quarter. BlackRock Inc. now owns 29,626,647 shares of the offshore drilling services provider’s stock worth $250,048,000 after buying an additional 663,521 shares during the period. Riverhead Capital Management LLC bought a new position in shares of Ensco in the third quarter worth about $491,000. Finally, Renaissance Technologies LLC raised its stake in shares of Ensco by 5.0% in the third quarter. Renaissance Technologies LLC now owns 4,504,429 shares of the offshore drilling services provider’s stock worth $38,017,000 after buying an additional 214,475 shares during the period. 98.83% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ESV opened at $15.26 on Wednesday. The firm has a market capitalization of $1.62 billion, a P/E ratio of -2.85 and a beta of 2.16. Ensco Plc has a one year low of $12.76 and a one year high of $38.04. The company has a current ratio of 2.48, a quick ratio of 2.48 and a debt-to-equity ratio of 0.62.
Ensco (NYSE:ESV) last posted its quarterly earnings results on Wednesday, February 27th. The offshore drilling services provider reported ($0.39) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.38) by ($0.01). The company had revenue of $399.00 million during the quarter, compared to analyst estimates of $404.69 million. Ensco had a negative return on equity of 6.95% and a negative net margin of 37.51%. The business’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) earnings per share. On average, research analysts expect that Ensco Plc will post -5.95 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Monday, March 11th were given a $0.01 dividend. The ex-dividend date was Friday, March 8th. This represents a $0.04 dividend on an annualized basis and a yield of 0.26%. Ensco’s dividend payout ratio (DPR) is presently -2.99%.
Several brokerages recently issued reports on ESV. HSBC raised Ensco from a “hold” rating to a “buy” rating and set a $7.00 target price on the stock in a research note on Friday, March 8th. ValuEngine upgraded Ensco from a “hold” rating to a “buy” rating in a research note on Thursday, December 27th. DNB Markets upgraded Ensco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Societe Generale lowered Ensco from a “buy” rating to a “hold” rating and set a $3.60 price target for the company. in a research report on Wednesday, December 19th. Finally, BTIG Research decreased their target price on Ensco from $18.00 to $14.00 and set an “average” rating for the company in a report on Thursday, December 20th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Ensco presently has a consensus rating of “Hold” and an average target price of $8.53.
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Ensco Company Profile
Ensco Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its business through the following segments: Floaters, Jackups, and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service.
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