Credit Suisse Upgrades ENSCO PLC to Outperform

Brokerage firm Credit Suisse Upgrades its rating on ENSCO PLC(ESV). The shares have been rated Outperform. Previously, the analysts had a Neutral rating on the shares. The rating by Credit Suisse was issued on Feb 3, 2017.

In a different note, On Jan 9, 2017, Bank of America said it Upgrades its rating on ENSCO PLC. In the research note, the firm Announces the price-target to $14 per share. The shares have been rated ‘Buy’ by the firm. On Dec 16, 2016, Goldman Sachs said it Downgrades its rating on ENSCO PLC. The shares have been rated ‘Neutral’ by the firm.

ENSCO PLC (ESV) shares turned negative on Tuesdays trading session with the shares closing down -0.61 points or -5.71% at a volume of 1,47,20,188. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $10.62. The peak price level was also seen at $10.62 while the days lowest was $10.01. Finally the shares closed at $10.07. The 52-week high of the shares is $13.04 while the 52-week low is $6.495. According to the latest information available, the market cap of the company is $3,057 M.

ENSCO PLC(ESV) last announced its earnings results on Oct 27, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $548.20M. Analysts had an estimated revenue of $544.34M. Earnings per share were $0.21. The reported EPS was above estimates by $0.09 or 75.00%. Analysts had estimated an EPS of $0.12.

Several Insider Transactions has been reported to the SEC. On Dec 28, 2015, Robert W Iii Edwards (Vice President – Finance) sold 1,500 shares at $16.22 per share price.Also, On Nov 4, 2015, James W Iii Swent (Executive Vice President & CFO) sold 59,189 shares at $17.81 per share price.On Jun 1, 2015, John Stokes Knowlton (Sr. Vice President – Technical) purchased 41 shares at $49.26 per share price, according to the Form-4 filing with the securities and exchange commission.

Ensco plc (Ensco) is a global offshore contract drilling company. The Company provides offshore contract drilling services to the international oil and gas industry. The Company operates in three segments: Floaters which includes its drill ships and semisubmersible rigs; Jackups and Other which consists of management services on rigs owned by third-parties. Its Floaters and Jackups segments provide contract drilling. It owns and operates an offshore drilling rig fleet of around 70 rigs including seven rigs under construction with drilling operations in markets around the globe. Its rig fleet includes around 10 drill ships 13 semisubmersible rigs five moored semisubmersible rigs and 42 jackup rigs. Of its 70 rigs around 17 are located in North and South America 17 are located in the Middle East and Africa 17 are located in the Asia Pacific rim (including five rigs under construction) 15 are located in Europe and the Mediterranean and fits are located in Brazil.

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