Ensco (ESV) Upgraded by Societe Generale to “Buy”

Societe Generale upgraded shares of Ensco (NYSE:ESV) from a hold rating to a buy rating in a report issued on Friday, MarketBeat reports.

Other research analysts also recently issued research reports about the company. Barclays boosted their price target on Ensco from $4.00 to $5.00 and gave the company an underweight rating in a research note on Thursday, August 9th. Piper Jaffray Companies reaffirmed a hold rating and issued a $9.00 price target on shares of Ensco in a research note on Tuesday. Susquehanna Bancshares set a $8.00 price target on Ensco and gave the company a hold rating in a research note on Friday, July 27th. ValuEngine downgraded Ensco from a buy rating to a hold rating in a research note on Wednesday, July 25th. Finally, Citigroup boosted their price target on Ensco from $5.25 to $6.40 and gave the company a neutral rating in a research note on Thursday, June 21st. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $7.61.

ESV stock traded up $0.15 during midday trading on Friday, reaching $8.71. The company had a trading volume of 12,599,981 shares, compared to its average volume of 13,426,096. The company has a market cap of $3.69 billion, a PE ratio of -16.75 and a beta of 1.86. Ensco has a 1-year low of $4.10 and a 1-year high of $9.51. The company has a quick ratio of 2.66, a current ratio of 2.66 and a debt-to-equity ratio of 0.59.

Ensco (NYSE:ESV) last posted its quarterly earnings results on Wednesday, July 25th. The offshore drilling services provider reported ($0.30) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.33) by $0.03. The business had revenue of $458.50 million during the quarter, compared to the consensus estimate of $449.69 million. Ensco had a negative return on equity of 4.51% and a negative net margin of 29.25%. Ensco’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. On average, analysts anticipate that Ensco will post -1.34 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, September 21st. Shareholders of record on Monday, September 10th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.46%. The ex-dividend date was Friday, September 7th. Ensco’s payout ratio is -7.69%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hellman Jordan Management Co. Inc. MA lifted its stake in Ensco by 509.7% in the second quarter. Hellman Jordan Management Co. Inc. MA now owns 94,500 shares of the offshore drilling services provider’s stock valued at $686,000 after buying an additional 79,000 shares during the period. Energy Opportunities Capital Management LLC lifted its stake in Ensco by 166.0% in the second quarter. Energy Opportunities Capital Management LLC now owns 585,785 shares of the offshore drilling services provider’s stock valued at $4,253,000 after buying an additional 365,590 shares during the period. Odey Asset Management Group Ltd acquired a new position in Ensco in the second quarter valued at approximately $19,720,000. Castleark Management LLC acquired a new position in Ensco in the second quarter valued at approximately $4,223,000. Finally, GeoSphere Capital Management LLC acquired a new position in Ensco in the second quarter valued at approximately $414,000. 97.58% of the stock is owned by hedge funds and other institutional investors.

About Ensco

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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Analyst Recommendations for Ensco (NYSE:ESV)

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