New York State Teachers Retirement System decreased its holdings in Ensco Rowan PLC (NYSE:ESV) by 47.7% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 289,718 shares of the offshore drilling services provider’s stock after selling 264,654 shares during the quarter. New York State Teachers Retirement System owned approximately 0.15% of Ensco Rowan worth $2,471,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Majedie Asset Management Ltd raised its stake in Ensco Rowan by 2.5% during the first quarter. Majedie Asset Management Ltd now owns 19,193,312 shares of the offshore drilling services provider’s stock valued at $75,492,000 after buying an additional 475,356 shares in the last quarter. Norges Bank acquired a new stake in Ensco Rowan during the fourth quarter valued at approximately $13,875,000. Geode Capital Management LLC raised its stake in Ensco Rowan by 5.4% during the fourth quarter. Geode Capital Management LLC now owns 3,124,707 shares of the offshore drilling services provider’s stock valued at $11,123,000 after buying an additional 160,819 shares in the last quarter. Canyon Capital Advisors LLC acquired a new stake in Ensco Rowan during the first quarter valued at approximately $4,299,000. Finally, Rhumbline Advisers raised its stake in Ensco Rowan by 2.8% during the first quarter. Rhumbline Advisers now owns 769,536 shares of the offshore drilling services provider’s stock valued at $3,024,000 after buying an additional 20,644 shares in the last quarter.
ESV has been the topic of a number of research reports. BTIG Research dropped their price target on Ensco Rowan from $70.00 to $15.00 in a research report on Thursday, May 30th. Zacks Investment Research upgraded Ensco Rowan from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Friday, May 24th. Piper Jaffray Companies set a $16.00 price target on Ensco Rowan and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Citigroup set a $13.00 price target on Ensco Rowan and gave the stock a “hold” rating in a research report on Friday, May 17th. Finally, Morgan Stanley began coverage on Ensco Rowan in a research report on Tuesday, April 16th. They set an “overweight” rating and a $25.00 price target on the stock. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Ensco Rowan has a consensus rating of “Hold” and a consensus price target of $10.05.
NYSE ESV traded down $1.75 on Monday, reaching $5.02. 18,332,786 shares of the stock traded hands, compared to its average volume of 5,542,334. The stock’s fifty day moving average price is $8.03. The company has a debt-to-equity ratio of 0.64, a quick ratio of 2.34 and a current ratio of 2.34. The company has a market capitalization of $991.65 million, a P/E ratio of -0.94 and a beta of 2.22. Ensco Rowan PLC has a 12 month low of $6.54 and a 12 month high of $38.04.
Ensco Rowan (NYSE:ESV) last issued its quarterly earnings results on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.79) by $0.10. Ensco Rowan had a negative return on equity of 7.65% and a negative net margin of 40.72%. The firm had revenue of $405.90 million during the quarter, compared to analyst estimates of $405.12 million. During the same period last year, the company posted ($0.32) EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. Research analysts predict that Ensco Rowan PLC will post -4.97 earnings per share for the current fiscal year.
Ensco Rowan Company Profile
Ensco Rowan plc provides offshore drilling services in various water depths worldwide. It operates a rig fleet of ultra-deepwater drillships, versatile semisubmersibles, and modern shallow-water jackups. The company's offshore fleet include 16 drillships, 12 semisubmersibles, 54 jackups, and 2 deepwater managed units.
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