Municipal Employees Retirement System of Michigan Grows Stake in Ensco Plc (ESV)

Municipal Employees Retirement System of Michigan raised its position in Ensco Plc (NYSE:ESV) by 42.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 131,120 shares of the offshore drilling services provider’s stock after purchasing an additional 39,210 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Ensco were worth $775,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ESV. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Ensco by 46.6% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 33,031 shares of the offshore drilling services provider’s stock worth $197,000 after purchasing an additional 10,493 shares during the period. Crossmark Global Holdings Inc. purchased a new position in shares of Ensco in the 3rd quarter worth about $121,000. New York State Common Retirement Fund raised its holdings in shares of Ensco by 7.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,413,100 shares of the offshore drilling services provider’s stock worth $8,436,000 after purchasing an additional 101,200 shares during the period. Van ECK Associates Corp raised its holdings in shares of Ensco by 16.3% in the 3rd quarter. Van ECK Associates Corp now owns 5,222,932 shares of the offshore drilling services provider’s stock worth $31,181,000 after purchasing an additional 733,947 shares during the period. Finally, American International Group Inc. raised its holdings in shares of Ensco by 1.6% in the 3rd quarter. American International Group Inc. now owns 1,061,695 shares of the offshore drilling services provider’s stock worth $6,338,000 after purchasing an additional 16,709 shares during the period. Institutional investors own 92.15% of the company’s stock.

Shares of ESV stock opened at $4.73 on Friday. Ensco Plc has a 12 month low of $4.10 and a 12 month high of $9.50. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.54. The stock has a market capitalization of $2,040.52, a PE ratio of -5.84 and a beta of 1.88.

Ensco (NYSE:ESV) last issued its quarterly earnings data on Tuesday, February 27th. The offshore drilling services provider reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Ensco had a negative return on equity of 1.86% and a negative net margin of 16.48%. The firm had revenue of $454.00 million during the quarter, compared to analyst estimates of $453.21 million. During the same quarter last year, the firm earned $0.10 EPS. Ensco’s quarterly revenue was down 10.1% on a year-over-year basis. analysts expect that Ensco Plc will post -0.96 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 16th. Shareholders of record on Monday, March 5th were paid a dividend of $0.01 per share. The ex-dividend date was Friday, March 2nd. This represents a $0.04 dividend on an annualized basis and a yield of 0.85%. Ensco’s dividend payout ratio (DPR) is presently -4.94%.

A number of equities analysts have recently commented on ESV shares. Jefferies Group set a $6.00 price objective on Ensco and gave the stock a “hold” rating in a report on Thursday, January 4th. Cowen set a $6.00 price objective on Ensco and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $7.00 price objective on Ensco and gave the stock a “hold” rating in a report on Friday, January 12th. Credit Suisse Group set a $8.00 price objective on Ensco and gave the stock a “hold” rating in a report on Tuesday, February 27th. Finally, ValuEngine upgraded Ensco from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Four equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $6.66.

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Ensco Profile

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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Institutional Ownership by Quarter for Ensco (NYSE:ESV)

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