Stock On Watch: What’s ENSCO PLC Upside After Today’s Huge Increase?

Stock On Watch: What's ENSCO PLC Upside After Today's Huge Increase?

The stock of ENSCO PLC (NYSE:ESV) is a huge mover today! The stock increased 4.18% or $0.36 on November 23, hitting $8.97. About 6.55M shares traded hands. ENSCO PLC (NYSE:ESV) has declined 24.62% since April 22, 2016 and is downtrending. It has underperformed by 30.03% the S&P500.
The move comes after 5 months positive chart setup for the $2.73 billion company. It was reported on Nov, 24 by Barchart.com. We have $9.33 PT which if reached, will make NYSE:ESV worth $109.20M more.

Analysts await ENSCO PLC (NYSE:ESV) to report earnings on February, 22. They expect $0.08 EPS, down 91.30% or $0.84 from last year’s $0.92 per share. ESV’s profit will be $24.35M for 28.03 P/E if the $0.08 EPS becomes a reality. After $0.25 actual EPS reported by ENSCO PLC for the previous quarter, Wall Street now forecasts -68.00% negative EPS growth.

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. $25 is the highest target while $7 is the lowest. The $13.75 average target is 53.29% above today’s ($8.97) stock price. Ensco Plc has been the topic of 47 analyst reports since August 3, 2015 according to StockzIntelligence Inc. As per Monday, December 14, the company rating was initiated by KLR Group. The rating was upgraded by Clarksons Platou to “Neutral” on Thursday, September 22. The firm has “Neutral” rating given on Thursday, August 25 by Citigroup. The stock of ENSCO PLC (NYSE:ESV) earned “Hold” rating by Deutsche Bank on Monday, April 18. FBR Capital maintained ENSCO PLC (NYSE:ESV) rating on Friday, October 28. FBR Capital has “Mkt Perform” rating and $9 price target. Bank of America initiated the stock with “Underperform” rating in Monday, June 13 report. Citigroup maintained it with “Neutral” rating and $11 target price in Wednesday, March 16 report. The firm earned “Accumulate” rating on Monday, June 13 by Johnson Rice. Deutsche Bank maintained ENSCO PLC (NYSE:ESV) on Monday, September 28 with “Sell” rating. Cowen & Co maintained it with “Market Perform” rating and $13.0 target price in Thursday, January 7 report.

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 decreased to 1.05 in 2016 Q2. Its down 0.21, from 1.26 in 2016Q1. The ratio is negative, 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.
Delta Asset Limited Liability Com Tn last reported 245 shares in the company. Advisory Ser Network Limited Liability accumulated 8,729 shares or 0.02% of the stock. Greatmark Investment Ptnrs last reported 0.63% of its portfolio in the stock. Lsv Asset Management reported 3.83 million shares or 0.08% of all its holdings. Bluemountain Ltd Liability Corp, a New York-based fund reported 21,471 shares. Smithfield Tru last reported 150 shares in the company. The California-based Wells Fargo & Mn has invested 0% in ENSCO PLC (NYSE:ESV). Primecap Mgmt Commerce Ca last reported 143,340 shares in the company. Teachers Retirement Systems Of The State Of Kentucky holds 52,999 shares or 0.01% of its portfolio. Whittier Trust last reported 0% of its portfolio in the stock. The Quebec – Canada-based Hexavest has invested 0% in ENSCO PLC (NYSE:ESV). Charter accumulated 10,593 shares or 0.01% of the stock. Buckingham Cap Management accumulated 0.52% or 439,725 shares. South Dakota Inv Council last reported 0.02% of its portfolio in the stock. Panagora Asset Management holds 0.09% of its portfolio in ENSCO PLC (NYSE:ESV) for 1.82M shares.

Another recent and important ENSCO PLC (NYSE:ESV) news was published by Nasdaq.com which published an article titled: “Ensco plc Q3 Earnings Decline 71%” on October 27, 2016.

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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