Price Target Update on ENSCO plc (NYSE:ESV)

ENSCO plc (NYSE:ESV) : 12 investment research analysts covering ENSCO plc (NYSE:ESV) have an average price target of $9.42 for the near short term. The highest target price given by the Brokerage Firm to the stock is $15 and the lowest target is $7 for the short term. Analysts expect the variance to be within $2.1 of the average price.

Other Equity analysts have also commented on the company shares. Bank of America initiates coverage on ENSCO plc (NYSE:ESV) The brokerage firm has issued a Underperform rating on the shares. The rating by the firm was issued on June 13, 2016.

ENSCO plc (NYSE:ESV): stock turned positive on Thursday. Though the stock opened at $10.64, the bulls momentum made the stock top out at $10.89 level for the day. The stock recorded a low of $10.49 and closed the trading day at $10.78, in the green by 3.95%. The total traded volume for the day was 7,841,238. The stock had closed at $10.37 in the previous days trading.

The company shares have dropped -52.39% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $22.79 and the one year low was seen on Feb 25, 2016. The 50-Day Moving Average price is $10.26 and the 200 Day Moving Average price is recorded at $10.97. On the companys insider trading activities, Edwards Robert W Iii, officer (Vice President – Finance) of Ensco Plc, unloaded 1,500 shares at an average price of $16.22 on December 23, 2015. The total amount of the transaction was worth $24,330, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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