Ensco (ESV) Bond Prices Fall 2.8%

An issue of Ensco Plc (NYSE:ESV) bonds fell 2.8% against their face value during trading on Friday. The high-yield debt issue has a 7.75% coupon and will mature on February 1, 2026. The debt is now trading at $82.00 and was trading at $86.00 last week. Price moves in a company’s bonds in credit markets sometimes predict parallel moves in its share price.

A number of equities analysts have issued reports on the company. Piper Jaffray Companies restated a “hold” rating and set a $9.00 target price on shares of Ensco in a report on Tuesday, October 9th. Barclays raised their target price on Ensco from $4.00 to $5.00 and gave the stock an “underweight” rating in a report on Thursday, August 9th. Societe Generale upgraded Ensco from a “hold” rating to a “buy” rating in a report on Friday, October 12th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 price objective on shares of Ensco in a report on Sunday, October 21st. Finally, Wells Fargo & Co upgraded Ensco from a “market perform” rating to an “outperform” rating and set a $11.00 price objective on the stock in a report on Tuesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $8.89.

NYSE:ESV opened at $6.26 on Friday. Ensco Plc has a fifty-two week low of $4.10 and a fifty-two week high of $9.51. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.60. The stock has a market cap of $2.74 billion, a PE ratio of -12.04 and a beta of 1.83.

Ensco (NYSE:ESV) last released its quarterly earnings data on Monday, October 29th. The offshore drilling services provider reported ($0.33) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.02. Ensco had a negative return on equity of 5.98% and a negative net margin of 36.53%. The business had revenue of $431.00 million for the quarter, compared to analysts’ expectations of $424.66 million. During the same quarter in the previous year, the business posted ($0.05) EPS. Ensco’s revenue for the quarter was down 6.3% on a year-over-year basis. As a group, equities analysts expect that Ensco Plc will post -1.32 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Shareholders of record on Monday, December 3rd will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, November 30th. Ensco’s payout ratio is -7.69%.

In other Ensco news, VP Steven Joseph Brady sold 4,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total value of $27,990.00. Following the sale, the vice president now owns 314,864 shares in the company, valued at approximately $1,958,454.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Ensco by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 38,680,474 shares of the offshore drilling services provider’s stock valued at $326,463,000 after acquiring an additional 336,835 shares in the last quarter. FMR LLC lifted its stake in Ensco by 6.9% in the 2nd quarter. FMR LLC now owns 34,395,479 shares of the offshore drilling services provider’s stock valued at $249,712,000 after acquiring an additional 2,213,621 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Ensco by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 30,453,455 shares of the offshore drilling services provider’s stock valued at $221,091,000 after acquiring an additional 368,448 shares in the last quarter. BlackRock Inc. lifted its stake in Ensco by 2.3% in the 3rd quarter. BlackRock Inc. now owns 29,626,647 shares of the offshore drilling services provider’s stock valued at $250,048,000 after acquiring an additional 663,521 shares in the last quarter. Finally, Capital International Investors lifted its stake in Ensco by 4.4% in the 3rd quarter. Capital International Investors now owns 20,147,782 shares of the offshore drilling services provider’s stock valued at $170,047,000 after acquiring an additional 846,997 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

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About Ensco (NYSE:ESV)

Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.

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