Zurcher Kantonalbank Zurich Cantonalbank Sells 14,252 Shares of Ensco Rowan PLC (NYSE:ESV)

Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in Ensco Rowan PLC (NYSE:ESV) by 55.3% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,519 shares of the offshore drilling services provider’s stock after selling 14,252 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Ensco Rowan were worth $98,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ESV. LS Investment Advisors LLC increased its holdings in shares of Ensco Rowan by 1.4% during the first quarter. LS Investment Advisors LLC now owns 57,632 shares of the offshore drilling services provider’s stock valued at $226,000 after acquiring an additional 778 shares in the last quarter. Retirement Systems of Alabama increased its holdings in shares of Ensco Rowan by 0.4% during 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 acquiring an additional 2,448 shares in the last quarter. First Mercantile Trust Co. increased its holdings in shares of Ensco Rowan by 10.4% during the first quarter. First Mercantile Trust Co. now owns 32,528 shares of the offshore drilling services provider’s stock valued at $128,000 after acquiring an additional 3,054 shares in the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Ensco Rowan by 22.5% during the first quarter. AlphaMark Advisors LLC now owns 18,540 shares of the offshore drilling services provider’s stock valued at $73,000 after acquiring an additional 3,400 shares in the last quarter. Finally, Comerica Bank increased its holdings in shares of Ensco Rowan by 1.3% during the first quarter. Comerica Bank now owns 274,091 shares of the offshore drilling services provider’s stock valued at $1,088,000 after acquiring an additional 3,446 shares in the last quarter.

Several research firms have recently commented on ESV. Citigroup set a $13.00 price objective on Ensco Rowan and gave the company a “hold” rating in a report on Friday, May 17th. Zacks Investment Research upgraded Ensco Rowan from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Friday, May 24th. ValuEngine downgraded Ensco Rowan from a “hold” rating to a “sell” rating in a report on Wednesday, May 1st. BTIG Research decreased their price objective on Ensco Rowan from $70.00 to $15.00 in a report on Thursday, May 30th. Finally, Royal Bank of Canada began coverage on Ensco Rowan in a report on Friday, May 17th. They set an “outperform” rating and a $15.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.05.

Shares of NYSE:ESV remained flat at $$8.27 during mid-day trading on Thursday. The firm has a market capitalization of $1.63 billion, a PE ratio of -1.54 and a beta of 2.22. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.64. Ensco Rowan PLC has a 52 week low of $6.54 and a 52 week high of $38.04. The company has a 50 day moving average price of $7.24 and a 200 day moving average price of $7.71.

Ensco Rowan Company Profile

Ensco Rowan plc provides offshore drilling services in various water depths worldwide. It operates a rig fleet of ultra-deepwater drillships, versatile semisubmersibles, and modern shallow-water jackups. The company's offshore fleet include 16 drillships, 12 semisubmersibles, 54 jackups, and 2 deepwater managed units.

Further Reading: Oversold

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Institutional Ownership by Quarter for Ensco Rowan (NYSE:ESV)

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