Cushing Asset Management LP purchased a new stake in Ensco plc (NYSE:ESV) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 30,000 shares of the offshore drilling services provider’s stock, valued at approximately $177,000.
Several other large investors have also modified their holdings of ESV. Bedel Financial Consulting Inc. acquired a new stake in Ensco during the fourth quarter worth about $100,000. Private Advisor Group LLC acquired a new stake in Ensco during the third quarter valued at approximately $100,000. ARGA Investment Management LP acquired a new stake in Ensco during the fourth quarter valued at approximately $113,000. Crossmark Global Holdings Inc. acquired a new stake in Ensco during the third quarter valued at approximately $121,000. Finally, Investors Research Corp acquired a new stake in Ensco during the fourth quarter valued at approximately $128,000. 92.16% of the stock is currently owned by institutional investors.
Shares of ESV stock traded down $0.11 during midday trading on Friday, hitting $4.62. The company had a trading volume of 5,797,902 shares, compared to its average volume of 10,244,978. Ensco plc has a 52-week low of $4.10 and a 52-week high of $9.50. The company has a market capitalization of $2,062.32, a P/E ratio of -8.88 and a beta of 1.82. The company has a current ratio of 2.13, a quick ratio of 2.13 and a debt-to-equity ratio of 0.54.
Ensco (NYSE:ESV) last posted its quarterly earnings results on Tuesday, February 27th. The offshore drilling services provider reported ($0.23) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.26) by $0.03. Ensco had a negative return on equity of 1.86% and a negative net margin of 16.48%. The firm had revenue of $454.00 million for the quarter, compared to the consensus estimate of $453.21 million. During the same period in the previous year, the business earned $0.10 earnings per share. The company’s revenue for the quarter was down 10.1% compared to the same quarter last year. equities analysts predict that Ensco plc will post -0.98 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Monday, March 5th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Friday, March 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.87%. Ensco’s payout ratio is -7.69%.
Several research analysts have commented on ESV shares. Cowen set a $5.00 price objective on shares of Ensco and gave the stock a “hold” rating in a research note on Thursday, March 15th. Zacks Investment Research raised Ensco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Jefferies Group set a $6.00 target price on Ensco and gave the company a “hold” rating in a report on Thursday, January 4th. Wells Fargo lowered their target price on Ensco from $7.00 to $6.00 and set a “market perform” rating for the company in a report on Wednesday, February 28th. Finally, Citigroup cut Ensco from a “buy” rating to a “neutral” rating in a research note on Monday, March 19th. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $6.66.
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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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