Ensco (ESV) Bonds Trading 2.8% Higher

An issue of Ensco Plc (NYSE:ESV) debt rose 2.8% against its face value during trading on Friday. The debt issue has a 5.2% coupon and will mature on March 15, 2025. The debt is now trading at $77.00 and was trading at $75.31 last week. Price changes in a company’s debt in credit markets sometimes predict parallel changes in its stock price.

A number of brokerages recently issued reports on ESV. Piper Jaffray Companies reiterated a “hold” rating and issued a $9.00 price target on shares of Ensco in a report on Tuesday, October 9th. Barclays boosted their price target on Ensco from $4.00 to $5.00 and gave the company an “underweight” rating in a report on Thursday, August 9th. Societe Generale upgraded Ensco from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $9.00 price target on shares of Ensco in a report on Sunday, October 21st. Finally, Cowen reiterated a “hold” rating and issued a $5.00 price target on shares of Ensco in a report on Monday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $8.74.

Ensco stock traded down $0.04 during mid-day trading on Friday, reaching $5.11. 27,774,651 shares of the company were exchanged, compared to its average volume of 13,495,528. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.60. The firm has a market cap of $2.54 billion, a P/E ratio of -9.83 and a beta of 1.78. Ensco Plc has a 12-month low of $4.10 and a 12-month high of $9.51.

Ensco (NYSE:ESV) last posted its earnings results on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.02. The company had revenue of $431.00 million during the quarter, compared to analyst estimates of $424.66 million. Ensco had a negative return on equity of 5.98% and a negative net margin of 36.53%. Ensco’s revenue was down 6.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.05) earnings per share. Equities analysts expect that Ensco Plc will post -1.33 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, November 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.78%. Ensco’s dividend payout ratio is currently -7.69%.

In other Ensco news, VP Steven Joseph Brady sold 4,500 shares of the company’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total transaction of $27,990.00. Following the completion of the sale, the vice president now owns 314,864 shares in the company, valued at $1,958,454.08. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.72% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its position in shares of Ensco by 0.9% during the third quarter. Vanguard Group Inc. now owns 38,680,474 shares of the offshore drilling services provider’s stock worth $326,463,000 after purchasing an additional 336,835 shares in the last quarter. Key Square Capital Management LLC acquired a new position in shares of Ensco during the third quarter worth $1,940,000. Kentucky Retirement Systems acquired a new position in shares of Ensco during the third quarter worth $1,103,000. Knowledge Leaders Capital LLC acquired a new position in shares of Ensco during the third quarter worth $2,439,000. Finally, Willis Investment Counsel increased its position in shares of Ensco by 1.6% during the third quarter. Willis Investment Counsel now owns 1,190,620 shares of the offshore drilling services provider’s stock worth $10,049,000 after purchasing an additional 19,235 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.

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Ensco Company Profile (NYSE:ESV)

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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