An issue of Ensco Plc (NYSE:ESV) debt rose 1.3% against its face value during trading on Thursday. The high-yield debt issue has a 5.2% coupon and is set to mature on March 15, 2025. The debt is now trading at $81.81 and was trading at $81.50 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.
Several brokerages recently commented on ESV. Zacks Investment Research raised shares of Ensco from a “sell” rating to a “hold” rating in a research note on Wednesday, March 7th. Cowen set a $6.00 price objective on shares of Ensco and gave the company a “hold” rating in a research note on Thursday, January 11th. Citigroup cut shares of Ensco from a “buy” rating to a “neutral” rating in a research note on Monday. Jefferies Group set a $6.00 price objective on shares of Ensco and gave the company a “hold” rating in a research note on Thursday, January 4th. Finally, Wells Fargo reduced their price objective on shares of Ensco from $7.00 to $6.00 and set a “market perform” rating for the company in a research note on Wednesday, February 28th. Four analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $7.02.
Ensco stock traded down $0.25 during mid-day trading on Thursday, reaching $4.68. 12,438,726 shares of the company’s stock were exchanged, compared to its average volume of 13,969,910. 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 Plc has a fifty-two week low of $4.10 and a fifty-two week high of $9.50. The stock has a market cap of $2,010.00, a PE ratio of -5.78 and a beta of 1.88.
The business also recently declared a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Monday, March 5th were paid a $0.01 dividend. 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 0.85%. Ensco’s dividend payout ratio is presently -4.94%.
A number of hedge funds have recently added to or reduced their stakes in ESV. Raymond James Financial Services Advisors Inc. grew its stake in Ensco by 46.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,031 shares of the offshore drilling services provider’s stock worth $197,000 after buying an additional 10,493 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Ensco in the 3rd quarter worth approximately $121,000. New York State Common Retirement Fund grew its stake in Ensco by 7.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,413,100 shares of the offshore drilling services provider’s stock worth $8,436,000 after buying an additional 101,200 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Ensco by 16.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,222,932 shares of the offshore drilling services provider’s stock worth $31,181,000 after acquiring an additional 733,947 shares during the last quarter. Finally, Majedie Asset Management Ltd lifted its holdings in shares of Ensco by 204.0% in the 3rd quarter. Majedie Asset Management Ltd now owns 6,382,433 shares of the offshore drilling services provider’s stock worth $38,103,000 after acquiring an additional 4,282,658 shares during the last quarter. 92.15% of the stock is owned by institutional investors and hedge funds.
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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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