Ensco Plc (NYSE:ESV)’s share price dropped 12% during trading on Thursday . The company traded as low as $5.75 and last traded at $5.11. Approximately 14,611,014 shares were traded during mid-day trading, an increase of 10% from the average daily volume of 13,305,095 shares. The stock had previously closed at $5.81.
ESV has been the topic of a number of analyst reports. Barclays lifted their price target on Ensco from $4.00 to $5.00 and gave the stock an “underweight” rating in a research note on Thursday, August 9th. ValuEngine raised Ensco from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 4th. DNB Markets cut Ensco from a “hold” rating to a “sell” rating in a research note on Friday, September 7th. BTIG Research initiated coverage on Ensco in a research note on Monday, September 17th. They issued a “buy” rating and a $10.00 price target on the stock. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $8.00 price target on shares of Ensco in a research note on Monday, October 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.74.
The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.60. The company has a market cap of $2.54 billion, a PE ratio of -9.78 and a beta of 1.78.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Monday, December 3rd will be given a dividend of $0.01 per share. The ex-dividend date is Friday, November 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.78%. Ensco’s dividend payout ratio is presently -7.69%.
In related news, VP Steven Joseph Brady sold 4,500 shares of Ensco stock in a transaction that occurred on Wednesday, November 14th. The stock was sold at an average price of $6.22, for a total transaction of $27,990.00. Following the sale, the vice president now directly owns 314,864 shares in the company, valued at $1,958,454.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.72% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Timber Hill LLC bought a new stake in shares of Ensco during the third quarter valued at approximately $106,000. Wetherby Asset Management Inc. bought a new stake in shares of Ensco during the third quarter valued at approximately $107,000. Vanguard Capital Wealth Advisors bought a new stake in shares of Ensco during the second quarter valued at approximately $111,000. Deprince Race & Zollo Inc. bought a new stake in shares of Ensco during the third quarter valued at approximately $127,000. Finally, Essex Investment Management Co. LLC bought a new stake in shares of Ensco during the third quarter valued at approximately $129,000. Institutional investors own 96.71% of the company’s stock.
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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