Retirement Systems of Alabama Acquires 2,448 Shares of Ensco Rowan PLC (NYSE:ESV)

Retirement Systems of Alabama lifted its position in shares of Ensco Rowan PLC (NYSE:ESV) by 0.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 569,178 shares of the offshore drilling services provider’s stock after buying an additional 2,448 shares during the period. Retirement Systems of Alabama owned approximately 0.52% of Ensco Rowan worth $2,237,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System boosted its position in Ensco Rowan by 0.9% in the 1st quarter. Louisiana State Employees Retirement System now owns 117,100 shares of the offshore drilling services provider’s stock valued at $460,000 after buying an additional 1,100 shares during the last quarter. American International Group Inc. boosted its position in Ensco Rowan by 0.3% in the 4th quarter. American International Group Inc. now owns 883,012 shares of the offshore drilling services provider’s stock valued at $3,144,000 after buying an additional 2,385 shares during the last quarter. Amundi Pioneer Asset Management Inc. boosted its position in Ensco Rowan by 17.4% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 18,200 shares of the offshore drilling services provider’s stock valued at $65,000 after buying an additional 2,700 shares during the last quarter. Check Capital Management Inc. CA boosted its position in Ensco Rowan by 9.2% in the 4th quarter. Check Capital Management Inc. CA now owns 34,425 shares of the offshore drilling services provider’s stock valued at $123,000 after buying an additional 2,900 shares during the last quarter. Finally, Sigma Planning Corp raised its stake in shares of Ensco Rowan by 14.3% in the 4th quarter. Sigma Planning Corp now owns 23,265 shares of the offshore drilling services provider’s stock valued at $83,000 after purchasing an additional 2,910 shares in the last quarter.

A number of equities research analysts have recently issued reports on the stock. Piper Jaffray Companies set a $16.00 target price on shares of Ensco Rowan and gave the company a “hold” rating in a research note on Tuesday, April 23rd. ValuEngine upgraded shares of Ensco Rowan from a “buy” rating to a “strong-buy” rating in a research note on Thursday, April 11th. Morgan Stanley assumed coverage on shares of Ensco Rowan in a research note on Tuesday, April 16th. They issued an “overweight” rating and a $25.00 target price on the stock. Barclays restated a “sell” rating and issued a $13.00 target price on shares of Ensco Rowan in a research note on Sunday, May 5th. Finally, Royal Bank of Canada assumed coverage on shares of Ensco Rowan in a research note on Friday, May 17th. They issued an “outperform” rating and a $15.00 target price on the stock. Two equities 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 stock. The company presently has an average rating of “Hold” and a consensus price target of $10.18.

ESV traded down $0.36 on Wednesday, hitting $10.01. 5,371,400 shares of the company’s stock were exchanged, compared to its average volume of 4,114,104. Ensco Rowan PLC has a twelve month low of $9.93 and a twelve month high of $38.04. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -1.87 and a beta of 2.09. The company has a quick ratio of 2.34, a current ratio of 2.34 and a debt-to-equity ratio of 0.64.

Ensco Rowan (NYSE:ESV) last announced its quarterly earnings results on Wednesday, May 1st. The offshore drilling services provider reported ($1.69) EPS for the quarter, beating the consensus estimate of ($1.79) by $0.10. Ensco Rowan had a negative net margin of 40.72% and a negative return on equity of 7.65%. The company had revenue of $405.90 million for the quarter, compared to analyst estimates of $405.12 million. During the same quarter last year, the business earned ($0.32) earnings per share. Ensco Rowan’s revenue was down 2.7% compared to the same quarter last year. Research analysts anticipate that Ensco Rowan PLC will post -5.23 earnings per share for the current year.

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Ensco Rowan Company Profile

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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