Cornerstone Investment Partners LLC lowered its position in shares of Ensco PLC (NYSE:ESV) by 24.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,322,042 shares of the offshore drilling services provider’s stock after selling 761,857 shares during the period. Cornerstone Investment Partners LLC’s holdings in Ensco PLC were worth $19,737,000 at the end of the most recent quarter.
Several other hedge funds also recently added to or reduced their stakes in ESV. LS Investment Advisors LLC increased its stake in Ensco PLC by 129.7% in the second quarter. LS Investment Advisors LLC now owns 18,466 shares of the offshore drilling services provider’s stock worth $179,000 after buying an additional 10,426 shares during the last quarter. IBM Retirement Fund boosted its position in Ensco PLC by 29.5% in the second quarter. IBM Retirement Fund now owns 30,461 shares of the offshore drilling services provider’s stock worth $296,000 after buying an additional 6,936 shares during the period. Hartford Investment Management Co. acquired a new position in Ensco PLC during the second quarter worth approximately $190,000. First Quadrant L P CA acquired a new position in Ensco PLC during the second quarter worth approximately $220,000. Finally, Fox Run Management L.L.C. boosted its position in Ensco PLC by 40.3% in the second quarter. Fox Run Management L.L.C. now owns 18,800 shares of the offshore drilling services provider’s stock worth $183,000 after buying an additional 5,400 shares during the period. Hedge funds and other institutional investors own 87.81% of the company’s stock.
Shares of Ensco PLC (NYSE:ESV) traded down 0.94% during mid-day trading on Monday, hitting $8.41. The company had a trading volume of 6,758,742 shares. The firm’s market capitalization is $2.53 billion. The firm has a 50-day moving average price of $8.30 and a 200-day moving average price of $8.89. Ensco PLC has a 52 week low of $6.50 and a 52 week high of $17.51.
Ensco PLC (NYSE:ESV) last announced its quarterly earnings results on Wednesday, October 26th. The offshore drilling services provider reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.15. Ensco PLC had a positive return on equity of 8.58% and a negative net margin of 52.28%. The company had revenue of $548 million for the quarter, compared to the consensus estimate of $541.65 million. During the same quarter in the previous year, the business earned $0.78 EPS. Ensco PLC’s revenue was down 45.8% compared to the same quarter last year. Equities analysts forecast that Ensco PLC will post $1.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 16th. Investors 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 yield of 0.47%. Ensco PLC’s dividend payout ratio is presently -0.53%.
A number of equities analysts have recently commented on the company. FBR & Co lowered their price target on Ensco PLC from $25.00 to $9.00 and set a “market perform” rating for the company in a report on Friday, October 28th. Clarkson Capital raised Ensco PLC from a “sell” rating to a “neutral” rating in a report on Tuesday, October 25th. BMO Capital Markets raised Ensco PLC from an “underperform” rating to a “market perform” rating and set a $8.00 price target for the company in a report on Monday, October 17th. They noted that the move was a valuation call. Jefferies Group reissued a “hold” rating and set a $8.00 price target (down previously from $10.00) on shares of Ensco PLC in a report on Wednesday, September 28th. Finally, Evercore ISI reissued a “buy” rating on shares of Ensco PLC in a report on Thursday, September 22nd. Seven research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target 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.