Clear Harbor Asset Management LLC bought a new stake in Ensco Plc (NYSE:ESV) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 17,500 shares of the offshore drilling services provider’s stock, valued at approximately $69,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Eqis Capital Management Inc. purchased a new stake in Ensco in the first quarter valued at approximately $75,000. Nisa Investment Advisors LLC purchased a new stake in Ensco in the first quarter valued at approximately $28,000. Sippican Capital Advisors raised its position in Ensco by 15.9% in the first quarter. Sippican Capital Advisors now owns 228,958 shares of the offshore drilling services provider’s stock valued at $900,000 after purchasing an additional 31,455 shares during the period. Fruth Investment Management raised its position in Ensco by 18.0% in the first quarter. Fruth Investment Management now owns 19,700 shares of the offshore drilling services provider’s stock valued at $77,000 after purchasing an additional 3,000 shares during the period. Finally, Retirement Systems of Alabama raised its position in Ensco by 0.4% in the first quarter. Retirement Systems of Alabama now owns 569,178 shares of the offshore drilling services provider’s stock valued at $2,237,000 after purchasing an additional 2,448 shares during the period. 98.83% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on ESV shares. ValuEngine lowered Ensco from a “buy” rating to a “hold” rating in a research report on Friday, March 1st. DNB Markets raised Ensco from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Morgan Stanley assumed coverage on Ensco in a research report on Tuesday, April 16th. They set an “overweight” rating and a $25.00 price objective on the stock. Citigroup assumed coverage on Ensco in a research report on Thursday, April 11th. They set a “neutral” rating on the stock. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Ensco in a research report on Friday, March 1st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Ensco has an average rating of “Hold” and an average price target of $8.53.
Ensco (NYSE:ESV) last posted its quarterly earnings data on Wednesday, February 27th. The offshore drilling services provider reported ($0.39) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.38) by ($0.01). Ensco had a negative return on equity of 6.95% and a negative net margin of 37.51%. The company had revenue of $399.00 million for the quarter, compared to analysts’ expectations of $404.69 million. During the same period in the prior year, the company posted ($0.23) EPS. The firm’s revenue was down 12.1% compared to the same quarter last year. Analysts predict that Ensco Plc will post -5.95 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Monday, March 11th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.26%. The ex-dividend date of this dividend was Friday, March 8th. Ensco’s dividend payout ratio (DPR) is presently -2.99%.
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Ensco Company Profile
Ensco Plc engages in the provision of offshore contract drilling services to the international oil and gas industry. It operates its business through the following segments: Floaters, Jackups, and Others. The Floaters segment includes drill ships and semisubmersible rigs. The Jackups segment offers contract drilling service.
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