Meeder Asset Management Inc. Invests $60,000 in Ensco Rowan PLC (NYSE:ESV)

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Meeder Asset Management Inc. bought a new position in shares of Ensco Rowan PLC (NYSE:ESV) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,082 shares of the offshore drilling services provider’s stock, valued at approximately $60,000.

Several other institutional investors and hedge funds have also made changes to their positions in ESV. Nisa Investment Advisors LLC acquired a new stake in shares of Ensco Rowan during the first quarter worth about $28,000. Endurance Wealth Management Inc. acquired a new stake in shares of Ensco Rowan during the second quarter worth about $41,000. Pearl River Capital LLC acquired a new stake in shares of Ensco Rowan during the first quarter worth about $70,000. AlphaMark Advisors LLC boosted its stake in shares of Ensco Rowan by 22.5% during the first quarter. AlphaMark Advisors LLC now owns 18,540 shares of the offshore drilling services provider’s stock worth $73,000 after buying an additional 3,400 shares during the period. Finally, Searle & CO. acquired a new stake in shares of Ensco Rowan during the second quarter worth about $85,000.

Shares of ESV opened at $8.27 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 2.34 and a quick ratio of 2.34. The firm has a 50 day simple moving average of $7.05 and a 200-day simple moving average of $7.79. Ensco Rowan PLC has a 1-year low of $6.54 and a 1-year high of $38.04. The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -1.54 and a beta of 2.22.

A number of equities research analysts recently commented on ESV shares. ValuEngine downgraded shares of Ensco Rowan from a “hold” rating to a “sell” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of Ensco Rowan from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a report on Friday, May 24th. Bank of America initiated coverage on shares of Ensco Rowan in a report on Monday, June 10th. They issued an “underperform” rating and a $7.00 target price for the company. Royal Bank of Canada initiated coverage on shares of Ensco Rowan in a report on Friday, May 17th. They issued an “outperform” rating and a $15.00 target price for the company. Finally, Barclays reaffirmed a “sell” rating and issued a $13.00 target price on shares of Ensco Rowan in a report on Sunday, May 5th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $10.05.

About Ensco Rowan

Ensco Rowan plc provides offshore drilling services in various water depths worldwide. It operates a rig fleet of ultra-deepwater drillships, versatile semisubmersibles, and modern shallow-water jackups. The company's offshore fleet include 16 drillships, 12 semisubmersibles, 54 jackups, and 2 deepwater managed units.

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Institutional Ownership by Quarter for Ensco Rowan (NYSE:ESV)

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