An issue of Ensco Plc (NYSE:ESV) bonds rose 2.6% against their face value during trading on Thursday. The high-yield issue of debt has a 5.2% coupon and is set to mature on March 15, 2025. The bonds in the issue are now trading at $84.50 and were trading at $82.69 one week ago. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
Several equities research analysts recently issued reports on the company. FBR & Co dropped their price target on Ensco from $9.00 to $6.00 and set a “neutral” rating on the stock in a research report on Friday, October 27th. Piper Jaffray Companies lowered Ensco from an “overweight” rating to a “neutral” rating and set a $6.00 price target on the stock. in a research report on Thursday, January 11th. Zacks Investment Research lowered Ensco from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. ValuEngine raised Ensco from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Jefferies Group set a $6.00 price target on Ensco and gave the company a “hold” rating in a research report on Thursday, January 4th. Five research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $7.52.
Shares of Ensco Plc (ESV) opened at $4.96 on Friday. Ensco Plc has a 52-week low of $4.10 and a 52-week high of $10.85. The company has a quick ratio of 5.04, a current ratio of 5.04 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $2,824.05, a price-to-earnings ratio of -26.11 and a beta of 1.74.
A number of hedge funds and other institutional investors have recently modified their holdings of ESV. Private Advisor Group LLC bought a new position in shares of Ensco in the third quarter worth $100,000. Bedel Financial Consulting Inc. bought a new position in shares of Ensco in the fourth quarter worth $100,000. ARGA Investment Management LP bought a new position in shares of Ensco in the fourth quarter worth $113,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of Ensco in the second quarter worth $116,000. Finally, Harvest Management LLC bought a new position in shares of Ensco in the third quarter worth $119,000. 62.00% of the stock is currently owned by hedge funds and other institutional investors.
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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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