Prudential Financial Inc. Boosts Position in Ensco PLC (ESV)
Prudential Financial Inc. increased its stake in shares of Ensco PLC (NYSE:ESV) by 5.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,036,892 shares of the offshore drilling services provider’s stock after buying an additional 415,040 shares during the period. Prudential Financial Inc.’s holdings in Ensco PLC were worth $68,314,000 at the end of the most recent reporting period.
A number of other institutional investors also recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. increased its position in Ensco PLC by 10.5% in the third quarter. UBS Asset Management Americas Inc. now owns 527,500 shares of the offshore drilling services provider’s stock valued at $4,485,000 after buying an additional 50,076 shares in the last quarter. IndexIQ Advisors LLC acquired a new stake in shares of Ensco PLC during the third quarter valued at $106,000. M&T Bank Corp increased its stake in shares of Ensco PLC by 28.0% in the third quarter. M&T Bank Corp now owns 84,862 shares of the offshore drilling services provider’s stock valued at $722,000 after buying an additional 18,539 shares during the period. Lucus Advisors LLC acquired a new stake in shares of Ensco PLC during the third quarter valued at $397,000. Finally, PNC Financial Services Group Inc. increased its stake in shares of Ensco PLC by 36.3% in the third quarter. PNC Financial Services Group Inc. now owns 72,661 shares of the offshore drilling services provider’s stock valued at $618,000 after buying an additional 19,351 shares during the period. Institutional investors own 87.81% of the company’s stock.
Ensco PLC (NYSE:ESV) opened at 7.73 on Wednesday. The company’s 50 day moving average is $8.30 and its 200 day moving average is $8.85. The firm’s market cap is $2.33 billion. Ensco PLC has a 12-month low of $6.50 and a 12-month high of $17.51.
Ensco PLC (NYSE:ESV) last released its quarterly earnings results on Wednesday, October 26th. The offshore drilling services provider reported $0.28 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.15. Ensco PLC had a negative net margin of 52.28% and a positive return on equity of 8.58%. The business had revenue of $548 million for the quarter, compared to analyst estimates of $541.65 million. During the same quarter in the previous year, the business earned $0.78 earnings per share. The firm’s revenue was down 45.8% compared to the same quarter last year. On average, equities analysts anticipate that Ensco PLC will post $1.65 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Stockholders of record on Monday, December 5th will be issued a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 1st. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.52%. Ensco PLC’s dividend payout ratio is currently -0.53%.
Several equities research analysts have recently weighed in on ESV shares. Zacks Investment Research upgraded shares of Ensco PLC from a “sell” rating to a “hold” rating in a research note on Wednesday, August 3rd. Jefferies Group reiterated a “hold” rating on shares of Ensco PLC in a research note on Friday, August 5th. Nomura set a $6.00 target price on shares of Ensco PLC and gave the stock a “sell” rating in a research note on Tuesday, August 16th. Citigroup Inc. increased their target price on shares of Ensco PLC from $9.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, August 25th. Finally, Howard Weil initiated coverage on shares of Ensco PLC in a report on Wednesday, September 14th. They set an “outperform” rating and a $10.00 price target for the company. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $11.23.
Ensco PLC Company Profile
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company’s segments include Floaters, Jackups and Other. Its Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling.
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