Municipal Employees Retirement System of Michigan cut its stake in ENSCO PLC (NYSE:ESV) by 18.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 114,440 shares of the offshore drilling services provider’s stock after selling 26,030 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in ENSCO PLC were worth $591,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently bought and sold shares of ESV. ZWJ Investment Counsel Inc. increased its position in shares of ENSCO PLC by 1.6% in the first quarter. ZWJ Investment Counsel Inc. now owns 11,635 shares of the offshore drilling services provider’s stock worth $104,000 after buying an additional 180 shares during the period. Creative Planning increased its position in shares of ENSCO PLC by 4.8% in the first quarter. Creative Planning now owns 13,135 shares of the offshore drilling services provider’s stock worth $118,000 after buying an additional 601 shares during the period. First Manhattan Co. increased its position in shares of ENSCO PLC by 72.6% in the first quarter. First Manhattan Co. now owns 14,260 shares of the offshore drilling services provider’s stock worth $121,000 after buying an additional 6,000 shares during the period. Tyers Asset Management LLC increased its position in shares of ENSCO PLC by 2.7% in the first quarter. Tyers Asset Management LLC now owns 13,748 shares of the offshore drilling services provider’s stock worth $123,000 after buying an additional 364 shares during the period. Finally, HRT Financial LLC bought a new position in shares of ENSCO PLC during the first quarter worth $126,000. Hedge funds and other institutional investors own 88.94% of the company’s stock.
Shares of ENSCO PLC (ESV) opened at 4.28 on Friday. The stock has a market capitalization of $1.30 billion, a P/E ratio of 26.75 and a beta of 1.64. ENSCO PLC has a one year low of $4.14 and a one year high of $12.04. The stock has a 50 day moving average of $5.06 and a 200-day moving average of $7.42.
ENSCO PLC (NYSE:ESV) last posted its quarterly earnings results on Thursday, July 27th. The offshore drilling services provider reported ($0.10) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.12) by $0.02. ENSCO PLC had a return on equity of 0.77% and a net margin of 2.68%. The company had revenue of $457.50 million for the quarter, compared to analysts’ expectations of $453.48 million. During the same period in the previous year, the firm earned $2.04 EPS. The firm’s revenue was down 49.7% compared to the same quarter last year. Equities analysts forecast that ENSCO PLC will post ($0.37) earnings per share for the current year.
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A number of equities analysts recently weighed in on the stock. Barclays PLC reissued a “sell” rating and issued a $8.00 price target on shares of ENSCO PLC in a report on Thursday, April 27th. Jefferies Group LLC set a $9.00 price target on shares of ENSCO PLC and gave the stock a “hold” rating in a report on Wednesday, May 24th. Clarkson Capital raised shares of ENSCO PLC from a “neutral” rating to a “buy” rating and set a $10.00 price target on the stock in a report on Tuesday, May 30th. Seaport Global Securities raised shares of ENSCO PLC from a “sell” rating to a “neutral” rating and set a $6.50 price target on the stock in a report on Wednesday, May 31st. Finally, BidaskClub raised shares of ENSCO PLC from a “strong sell” rating to a “sell” rating in a report on Wednesday, June 14th. Five analysts have rated the stock with a sell rating, six have given a hold rating and eleven have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $9.85.
About ENSCO PLC
Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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