Cornerstone Investment Partners LLC trimmed its stake in Ensco Plc (NYSE:ESV) by 28.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,430 shares of the offshore drilling services provider’s stock after selling 32,384 shares during the quarter. Cornerstone Investment Partners LLC’s holdings in Ensco Plc were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in Ensco Plc by 170.3% during the second quarter. Dimensional Fund Advisors LP now owns 16,775,071 shares of the offshore drilling services provider’s stock valued at $86,564,000 after acquiring an additional 10,568,874 shares in the last quarter. Capital Guardian Trust Co. raised its position in Ensco Plc by 189.3% during the second quarter. Capital Guardian Trust Co. now owns 10,637,145 shares of the offshore drilling services provider’s stock valued at $54,888,000 after acquiring an additional 6,960,500 shares in the last quarter. Capital International Investors raised its position in Ensco Plc by 181.5% during the second quarter. Capital International Investors now owns 10,606,503 shares of the offshore drilling services provider’s stock valued at $54,730,000 after acquiring an additional 6,838,484 shares in the last quarter. BlackRock Inc. raised its position in Ensco Plc by 25.3% during the second quarter. BlackRock Inc. now owns 32,777,289 shares of the offshore drilling services provider’s stock valued at $169,130,000 after acquiring an additional 6,612,735 shares in the last quarter. Finally, Scepter Holdings Inc. bought a new position in shares of Ensco Plc in the second quarter valued at approximately $24,330,000. 91.09% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Ensco Plc from $4.75 to $5.00 and gave the stock a “market perform” rating in a research note on Friday, July 28th. ValuEngine downgraded shares of Ensco Plc from a “hold” rating to a “sell” rating in a research note on Tuesday, August 1st. B. Riley reiterated a “neutral” rating on shares of Ensco Plc in a research note on Wednesday, November 1st. Jefferies Group LLC set a $6.00 price target on shares of Ensco Plc and gave the stock a “hold” rating in a research note on Sunday, October 29th. Finally, Zacks Investment Research raised Ensco Plc from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $8.47.
Ensco Plc (NYSE:ESV) last issued its earnings results on Thursday, October 26th. The offshore drilling services provider reported ($0.05) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.16) by $0.11. The business had revenue of $460.00 million during the quarter, compared to the consensus estimate of $457.79 million. Ensco Plc had a negative return on equity of 0.37% and a negative net margin of 3.04%. The firm’s revenue for the quarter was down 16.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. research analysts anticipate that Ensco Plc will post -0.49 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Monday, December 4th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, December 1st. This represents a $0.04 dividend on an annualized basis and a yield of 0.74%. Ensco Plc’s payout ratio is currently -17.39%.
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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. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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