Notable Mover: Could ENSCO PLC Decline After Today’s Significant Increase?

Notable Mover: Could ENSCO PLC Decline After Today's Significant Increase?

The stock of ENSCO PLC (NYSE:ESV) is a huge mover today! About 4.00 million shares traded hands. ENSCO PLC (NYSE:ESV) has declined 24.78% since March 16, 2016 and is downtrending. It has underperformed by 30.32% the S&P500.
The move comes after 9 months positive chart setup for the $2.71B company. It was reported on Oct, 19 by Barchart.com. We have $10.87 PT which if reached, will make NYSE:ESV worth $623.30M more.

Analysts await ENSCO PLC (NYSE:ESV) to report earnings on October, 26. They expect $0.14 earnings per share, down 84.27% or $0.75 from last year’s $0.89 per share. ESV’s profit will be $42.92 million for 15.79 P/E if the $0.14 EPS becomes a reality. After $0.51 actual earnings per share reported by ENSCO PLC for the previous quarter, Wall Street now forecasts -72.55% negative EPS growth.

ENSCO PLC (NYSE:ESV) Ratings Coverage

Out of 25 analysts covering Ensco Plc (NYSE:ESV), 6 rate it a “Buy”, 6 “Sell”, while 13 “Hold”. This means 24% are positive. Ensco Plc has been the topic of 45 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The stock of ENSCO PLC (NYSE:ESV) earned “Negative” rating by Susquehanna on Monday, March 28. On Monday, September 28 the stock rating was maintained by Deutsche Bank with “Sell”. The stock of ENSCO PLC (NYSE:ESV) earned “Sell” rating by DNB Markets on Tuesday, July 19. Citigroup maintained the shares of ESV in a report on Wednesday, March 16 with “Neutral” rating. The rating was maintained by Howard Weil on Friday, July 31 with “Sector Outperform”. Zephrin Group upgraded the shares of ESV in a report on Monday, September 19 to “Buy” rating. The firm has “Hold” rating given on Friday, January 29 by Citigroup. Citigroup maintained ENSCO PLC (NYSE:ESV) rating on Thursday, August 25. Citigroup has “Neutral” rating and $9 price target. Cowen & Co maintained ENSCO PLC (NYSE:ESV) on Thursday, January 7 with “Market Perform” rating. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, July 31.

According to Zacks Investment Research, “Ensco International plc, formerly ENSCO International Incorporated, is a provider of offshore contract drilling services to the international oil and gas industry. The Company owns and operates drilling rigs including jackup, ultra-deepwater semisubmersible and barge rigs. Its drilling rigs are located throughout the world and concentrated in the major geographic regions of Asia Pacific (which includes Asia, the Middle East, Australia and New Zealand), Europe/Africa and North and South America. The Company provides drilling services on a day rate contract basis. Under day rate contracts, it provides the drilling rig and rig crews, and receives a fixed amount per day for drilling the well. Its customers bear substantially all of the ancillary costs of constructing the well and supporting drilling operations. The Company does not provide turnkey or other risk-based drilling services.”

Insitutional Activity: The institutional sentiment increased to 1.26 in Q2 2016. Its up 0.45, from 0.81 in 2016Q1. The ratio improved, as 51 funds sold all ENSCO PLC shares owned while 89 reduced positions. 50 funds bought stakes while 126 increased positions. They now own 246.48 million shares or 19.11% more from 206.94 million shares in 2016Q1.
Moreover, Aqr Management Ltd Liability Co has 0.04% invested in ENSCO PLC (NYSE:ESV) for 2.34 million shares. Princeton Alpha Mgmt L P has 241,848 shares for 0.42% of their US portfolio. Canada Pension Plan Inv Board has 151,810 shares for 0.01% of their US portfolio. Nationwide Fund Advsrs holds 0.02% or 511,381 shares in its portfolio. Hightower Advisors Ltd holds 0% or 23,986 shares in its portfolio. The North Carolina-based Bank Of America Corporation De has invested 0% in ENSCO PLC (NYSE:ESV). Washington Financial Bank last reported 0% of its portfolio in the stock. Louisiana State Employees Retirement holds 0.04% or 80,100 shares in its portfolio. Loudon Limited Liability Company owns 18,708 shares or 0.15% of their US portfolio. Liberty Mutual Group Inc Asset Management Inc has invested 0.05% of its portfolio in ENSCO PLC (NYSE:ESV). Ajo Limited Partnership reported 19.52 million shares or 0.84% of all its holdings. Janus Cap Management Limited Liability Corp has 0% invested in the company for 114,700 shares. Aperio Group Lc accumulated 0.01% or 180,321 shares. Caisse De Depot Et Placement Du Quebec accumulated 250,000 shares or 0.01% of the stock. Stevens Mgmt L P owns 38,437 shares or 0.01% of their US portfolio.

More news for ENSCO PLC (NYSE:ESV) were recently published by: Businesswire.com, which released: “Ensco plc Schedules Third Quarter 2016 Earnings Release and Conference Call” on October 07, 2016. Seekingalpha.com‘s article titled: “Ensco Confirms Disparity Between Jack-Up And UDW Segments” and published on October 15, 2016 is yet another important article.

ESV Company Profile

Ensco plc, incorporated on September 18, 2009, is an offshore contract drilling company. The Firm provides offshore contract drilling services to the international gas and oil industry. The Company’s divisions include Floaters, Jackups and Other. The Company’s Floaters segment includes the Company’s drillships and semisubmersible rigs, and provides contract drilling. The Other segment consists of management services on rigs owned by third parties. The Jackups divisions provide contract drilling. It owns and operates an offshore drilling rig fleet of over 60 rigs, including approximately four rigs under construction, with drilling activities in markets around the globe. The Company’s rig fleet includes approximately 10 drill ships, over 10 semisubmersible rigs, approximately three moored semisubmersible rigs and over 40 jackup rigs. Of its approximately 70 rigs, approximately 30 are located in the Middle East, Africa and Asia Pacific (including over four rigs under construction), over 20 are located in North and South America (including Brazil), and approximately 20 are located in Europe and the Mediterranean.

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