Market Runner: Could ENSCO PLC See a Reversal After This Very Weak Session?

Market Runner: Could ENSCO PLC See a Reversal After This Very Weak Session?

The stock of ENSCO PLC (NYSE:ESV) is a huge mover today! The stock decreased 7.10% or $0.55 during the last trading session, hitting $7.2. About 10.64 million shares traded hands or 17.31% up from the average. ENSCO PLC (NYSE:ESV) has declined 18.85% since April 4, 2016 and is downtrending. It has underperformed by 19.94% the S&P500.
The move comes after 7 months negative chart setup for the $2.17 billion company. It was reported on Nov, 4 by Barchart.com. We have $6.70 PT which if reached, will make NYSE:ESV worth $151.90M less.

ENSCO PLC (NYSE:ESV) Ratings Coverage

Out of 26 analysts covering Ensco Plc (NYSE:ESV), 6 rate it a “Buy”, 6 “Sell”, while 14 “Hold”. This means 23% are positive. Ensco Plc has been the topic of 47 analyst reports since August 3, 2015 according to StockzIntelligence Inc. FBR Capital maintained it with “Mkt Perform” rating and $9 target price in Friday, October 28 report. Citigroup downgraded it to “Hold” rating and $9 target price in Friday, January 29 report. As per Monday, March 28, the company rating was downgraded by Susquehanna. The rating was downgraded by DNB Markets on Tuesday, July 19 to “Sell”. The firm has “Neutral” rating given on Thursday, September 22 by Clarksons Platou. The firm earned “Sell” rating on Monday, September 28 by Deutsche Bank. The firm earned “Buy” rating on Wednesday, September 21 by Goldman Sachs. Howard Weil maintained ENSCO PLC (NYSE:ESV) rating on Friday, July 31. Howard Weil has “Sector Outperform” rating and $25 price target. As per Tuesday, June 28, the company rating was upgraded by Susquehanna. The firm has “Neutral” rating given on Thursday, September 22 by Clarkson Capital.

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 2016 Q2. 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.
Everpoint Asset Management Limited Liability Com holds 0.06% of its portfolio in ENSCO PLC (NYSE:ESV) for 300,000 shares. Mitsubishi Ufj Trust And Bk holds 24,065 shares or 0% of its portfolio. Princeton Alpha Ltd Partnership, a New Jersey-based fund reported 241,848 shares. Pub Employees Retirement Association Of Colorado reported 56,691 shares or 0% of all its holdings. Oakworth last reported 1,000 shares in the company. Trexquant Inv Lp, a Connecticut-based fund reported 189,000 shares. Ameritas Inv Prtn holds 0.03% of its portfolio in ENSCO PLC (NYSE:ESV) for 48,182 shares. Moreover, Delta Asset Mgmt Llc Tn has 0% invested in ENSCO PLC (NYSE:ESV) for 245 shares. Schroder Management Grp Inc holds 1.07M shares or 0.02% of its portfolio. Babson Mngmt Limited Liability Corporation holds 46,000 shares or 0.01% of its portfolio. Capstone Asset Management accumulated 20,210 shares or 0.01% of the stock. New York State Common Retirement Fund accumulated 2.49 million shares or 0.04% of the stock. South Dakota Inv Council has 0.02% invested in the company for 85,200 shares. Cubist Systematic Strategies Limited Liability Corp holds 0.06% or 108,325 shares in its portfolio. State Board Of Administration Of Florida Retirement Systems, a Florida-based fund reported 249,958 shares.

More recent ENSCO PLC (NYSE:ESV) news were published by: Seekingalpha.com which released: “Ensco Plc (ESV) Q3 2016 Results – Earnings Call Transcript” on October 28, 2016. Also Nasdaq.com published the news titled: “Ensco plc Q3 Earnings Decline 71%” on October 27, 2016. Businesswire.com‘s news article titled: “Ensco plc Schedules Third Quarter 2016 Earnings Release and Conference Call” with publication date: October 07, 2016 was also an interesting one.

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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