Wittenberg Investment Management Inc. acquired a new stake in shares of Ensco Plc (NYSE:ESV) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 847,200 shares of the offshore drilling services provider’s stock, valued at approximately $5,007,000. Ensco makes up about 2.2% of Wittenberg Investment Management Inc.’s portfolio, making the stock its 11th biggest holding.
Several other institutional investors have also added to or reduced their stakes in ESV. Private Advisor Group LLC bought a new position in Ensco in the third quarter valued at about $100,000. Bedel Financial Consulting Inc. bought a new position in Ensco in the fourth quarter valued at about $100,000. ARGA Investment Management LP bought a new position in Ensco in the fourth quarter valued at about $113,000. Raymond James Financial Services Advisors Inc. bought a new position in Ensco in the second quarter valued at about $116,000. Finally, Harvest Management LLC bought a new position in Ensco in the third quarter valued at about $119,000. 70.86% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on ESV. B. Riley reissued a “neutral” rating on shares of Ensco in a report on Wednesday, November 1st. Cowen set a $6.00 target price on Ensco and gave the company a “hold” rating in a report on Thursday, January 11th. Jefferies Group set a $6.00 target price on Ensco and gave the company a “hold” rating in a report on Thursday, January 4th. Credit Suisse Group downgraded Ensco from an “outperform” rating to a “neutral” rating and set a $8.00 target price on the stock. in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded Ensco from a “hold” rating to a “sell” rating in a report on Monday, January 8th. Five investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.52.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 16th. Stockholders of record on Monday, March 5th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.76%. The ex-dividend date is Friday, March 2nd. Ensco’s dividend payout ratio (DPR) is currently -21.05%.
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Ensco plc is an offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. Its segments include Floaters, Jackups and Other. The Floaters segment includes its drillships and semisubmersible rigs, and provides contract drilling.
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