Ensco plc (ESV) Formed a Wedge Up Pattern, Could Be One of The Best Performers Soon

December 7, 2017 - By Clifton Ray

Investors sentiment increased to 1.01 in Q2 2017. Its up 0.19, from 0.82 in 2017Q1. It is positive, as 51 investors sold Ensco plc shares while 94 reduced holdings. 51 funds opened positions while 96 raised stakes. 300.48 million shares or 19.02% more from 252.47 million shares in 2017Q1 were reported.
Kanawha Limited Liability Company reported 0.02% stake. Us Bank De stated it has 11,216 shares or 0% of all its holdings. Cwm Lc owns 0.04% invested in Ensco plc (NYSE:ESV) for 135,083 shares. Advisory Limited Liability Com holds 15,865 shares. Acadian Asset Mgmt Lc holds 738 shares or 0% of its portfolio. Stifel Financial owns 92,212 shares or 0% of their US portfolio. Arrowstreet Partnership holds 90,900 shares. The New York-based Saba Capital Limited Partnership has invested 0.05% in Ensco plc (NYSE:ESV). Schwab Charles Invest has 0.01% invested in Ensco plc (NYSE:ESV). Holt Cap Advsrs Ltd Liability Com Dba Holt Cap Prtn Lp stated it has 0.03% in Ensco plc (NYSE:ESV). Capstone Inv Advsr Limited Liability Corporation invested in 34,200 shares. Pentwater Limited Partnership holds 0.06% of its portfolio in Ensco plc (NYSE:ESV) for 1.42 million shares. Commonwealth Equity Inc has 0% invested in Ensco plc (NYSE:ESV). Trexquant L P has 217,300 shares. Federated Investors Pa stated it has 0.01% of its portfolio in Ensco plc (NYSE:ESV).

The stock of Ensco plc (ESV) formed an up wedge with $5.87 target or 5.00 % above today’s $5.59 share price. The 6 months wedge indicates low risk for the $2.45 billion company. If the $5.87 price target is reached, the company will be worth $122.45M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.36% or $0.02 during the last trading session, reaching $5.59. About 8.53M shares traded. Ensco plc (NYSE:ESV) has declined 23.23% since December 8, 2016 and is downtrending. It has underperformed by 39.93% the S&P500.

Analysts await Ensco plc (NYSE:ESV) to report earnings on February, 26. They expect $-0.24 earnings per share, down 366.67 % or $0.33 from last year’s $0.09 per share. After $-0.05 actual earnings per share reported by Ensco plc for the previous quarter, Wall Street now forecasts 380.00 % negative EPS growth.

Ensco plc (NYSE:ESV) Ratings Coverage

Among 34 analysts covering Ensco Plc (NYSE:ESV), 14 have Buy rating, 5 Sell and 15 Hold. Therefore 41% are positive. Ensco Plc had 76 analyst reports since August 3, 2015 according to SRatingsIntel. FBR Capital maintained the shares of ESV in report on Friday, October 28 with “Mkt Perform” rating. On Tuesday, September 5 the stock rating was maintained by Cowen & Co with “Hold”. As per Thursday, October 19, the company rating was initiated by HSBC. Piper Jaffray maintained the shares of ESV in report on Thursday, October 19 with “Buy” rating. Bank of America upgraded the stock to “Buy” rating in Monday, January 9 report. The rating was maintained by RBC Capital Markets on Friday, July 31 with “Sector Perform”. The company was maintained on Wednesday, October 18 by Cowen & Co. The stock of Ensco plc (NYSE:ESV) has “Hold” rating given on Tuesday, July 11 by BMO Capital Markets. The stock has “Buy” rating by Zephrin Group on Monday, September 19. The stock of Ensco plc (NYSE:ESV) earned “Sell” rating by Deutsche Bank on Monday, September 28.

More notable recent Ensco plc (NYSE:ESV) news were published by: Seekingalpha.com which released: “Ensco: Why Day Rates Don’t Matter” on November 08, 2017, also Businesswire.com with their article: “Ensco plc to Present at The Bank of America Merrill Lynch Leveraged Finance …” published on November 20, 2017, Nasdaq.com published: “ENSCO plc (ESV) Ex-Dividend Date Scheduled for December 01, 2017” on November 30, 2017. More interesting news about Ensco plc (NYSE:ESV) were released by: Seekingalpha.com and their article: “Ensco Earnings Show Improving Conditions For The Company And Industry” published on November 14, 2017 as well as Nasdaq.com‘s news article titled: “Whitebox Advisors LLC Buys Ensco PLC, Dell-VMWare Tracking Stock, Basic Energy …” with publication date: November 18, 2017.

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