Ariose Capital Management Ltd purchased a new stake in Ensco Plc (NYSE:ESV) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 3,475,035 shares of the offshore drilling services provider’s stock, valued at approximately $29,329,000. Ensco makes up 58.6% of Ariose Capital Management Ltd’s holdings, making the stock its largest holding. Ariose Capital Management Ltd owned 0.80% of Ensco as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in ESV. Vanguard Capital Wealth Advisors acquired a new position in Ensco in the second quarter valued at about $111,000. Deprince Race & Zollo Inc. acquired a new position in shares of Ensco during the third quarter worth approximately $127,000. Essex Investment Management Co. LLC acquired a new position in shares of Ensco during the third quarter worth approximately $129,000. Clear Harbor Asset Management LLC acquired a new position in shares of Ensco during the second quarter worth approximately $131,000. Finally, Murphy Capital Management Inc. acquired a new position in shares of Ensco during the second quarter worth approximately $155,000. Hedge funds and other institutional investors own 98.02% of the company’s stock.
Shares of ESV traded down $0.10 on Friday, reaching $7.34. 12,837,426 shares of the company’s stock were exchanged, compared to its average volume of 13,298,587. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.66 and a quick ratio of 2.66. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -14.12 and a beta of 1.86. Ensco Plc has a 12 month low of $4.10 and a 12 month high of $9.51.
A number of brokerages have recently issued reports on ESV. JPMorgan Chase & Co. upgraded shares of Ensco from an “underweight” rating to a “neutral” rating and set a $8.00 target price on the stock in a research report on Friday, October 12th. Piper Jaffray Companies reiterated a “hold” rating and set a $6.25 target price on shares of Ensco in a research report on Friday, July 20th. DNB Markets lowered shares of Ensco from a “hold” rating to a “sell” rating in a research report on Friday, September 7th. Jefferies Financial Group reiterated a “hold” rating and set a $9.00 target price on shares of Ensco in a research report on Sunday, October 21st. Finally, Susquehanna Bancshares set a $8.00 target price on shares of Ensco and gave the stock a “hold” rating in a research report on Friday, July 27th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $8.46.
Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. It operates through three segments: Floaters, Jackups, and Other. The company owns and operates an offshore drilling rig fleet of 65 rigs, including 32 located in the Middle East, Africa, and the Asia Pacific, which comprise 3 rigs under construction; 14 located in North and South America, such as Brazil; and 19 located in Europe and the Mediterranean.
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