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ESV $8.27

ESV target price
8.27
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Ensco plc
Type
Public limited company
Traded as NYSE: ESV
S&P 400 component
Industry Petroleum industry
Founded 1975; 42 years ago (1975)
Headquarters London, United Kingdom (incorporation)
San Felipe Plaza
Houston, Texas, USA (operational)
Key people
Paul E. Rowsey III, Chairman
Carl G. Trowell, CEO
Jonathan H. Baksht, CFO
Services Offshore drilling
Well drilling
Revenue Decrease $2.776 billion (2016)
Operating income
Increase $0.929 billion (2016)
Net income
Increase $0.897 billion (2016)
Total assets Increase $14.374 billion (2016)
Total equity Increase $8.250 billion (2016)
Number of employees
4,900 (2016)
Website www.enscoplc.com

Ensco plc is an offshore drilling contractor headquartered in London, United Kingdom.

Ensco is the world's second-largest offshore drilling and well drilling company, and owns 41 offshore jack-ups, 8 drillships, and 12 semi-submersible drilling rigs.

In 2016, 13% of its revenues came from BP and 12% of its revenues came from Total S.A..

The company provides quarterly updates on the status of each rig in its fleet on its website.

ENSCO's predecessor company, Blocker Energy Corporation, was incorporated in 1975 by longtime oilman John R. Blocker.

After graduating from Texas A&M in 1948, Blocker worked on a Gulf of Mexico oil rig for several years. In 1954, he established a South Texas drilling company with his father. When an oversupply of oil on the market crippled the contract drilling business, the company was dissolved. In 1958 Blocker went to work for Dresser Industries as operations manager for the oil equipment division in Argentina and Venezuela, a natural fit because he had grown up in South America, learning Spanish before English. In 1965, he moved to Dresser's Houston office and ultimately rose to the level of a senior vice-president.

In 1975, after the 1973 oil crisis, John Blocker bought Choya Energy, a six-rig contract drilling company based in Alice, Texas, and renamed the company Blocker Energy.

Blocker took advantage of his South American experience to position the company in the international market, believing it was less risky than the United States market, which had 800 to 900 competitors. Blocker Energy took on $44 million in debt to expand rapidly. To fund expansion and pay down debt, the company became a public company via an initial public offering.

By 1980, the company had 1,700 employees worldwide, including 211 at its Texas headquarters. In the early 1980s, Blocker, along with many other oil-related companies, thought the price of oil could only go higher. In 1981 and early 1982, the company borrowed heavily to expand its rig fleet to 54 rigs. However, in late 1982, the price of oil plunged and, to avoid bankruptcy, Blocker Energy restructured, giving 64% of the company to its banks in exchange for $240 million in debt forgiveness. By 1983, the company was only operating 6 rigs, although that number increased to 24 in 1984. By 1985, the worldwide employee count of the company was down to 500.

Blocker Energy lost nearly $3 million in 1985 and needed capital. Richard Rainwater's BEC Ventures made an investment in the company in 1986 and chose Carl F. Thorne to run the company, which he did until his retirement 20 years later.

In 1988, the company acquired Golden Gulf Offshore Inc. and its ten boats that supplied offshore oil rigs and another four vessels that moved the rigs' massive anchors for $64 million in cash and stock.

In 1990, the company bought Penrod Holding Corporation out of bankruptcy and adding 19 rigs to its fleet. Penrod was owned by the Hunt family. The deal was orchestrated by Richard Rainwater who owned 21% of Ensco at that time.

In 2011, Ensco acquired Pride International for $7.3 billion. The acquisition provided Ensco access to the Brazil and West African markets, and diversified its asset base from being largely jack-up rigs to include drillship and semi-submersible rigs. As a result of the acquisition, Ensco closed its Dallas office and consolidated into its Houston office.

In 2010, Ensco moved its headquarters to London and become a UK-registered company.

In 2013, the company was added to the S&P 500 index but it was removed from the index in 2016.

In 2015, Petrobras alleged bribery in the negotiations of the DS-5 rig contract with Pride International in 2008 before its acquisition by Ensco. In 2016, Petrobras terminated the contract for the rig.

In 2017, Ensco acquired Atwood Oceanics.

In 2009, a Spanish government authority initiated proceedings seeking $3 million in damages for an alleged environmental spill originating from the ENSCO 5006 rig. Ensco expects to be indemnified from any damages by the customer of the rig.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q1 2019 2019-05-01 -1.69 -1.76
Q4 2018 2019-02-27 -1.56 -1.88
Q3 2018 2018-10-29 -1.32 -1.32

Ratings

2016-07-10 Reiterated Rating Jefferies Group Hold
2016-06-29 Reiterated Rating Evercore ISI Buy
2016-06-28 Upgrade Susquehanna Negative to Neutral
2016-06-19 Initiated Coverage Bank of America Underperform $9.00 to $10.53
2016-06-19 Initiated Coverage Bank of America Corp. Underperform $9.00 to $10.53
2016-06-13 Upgrade Johnson Rice Hold to Accumulate
2016-06-13 Initiated Coverage Bank of America Underperform $9.00
2016-05-20 Reiterated Rating JPMorgan Chase & Co. Underweight
2016-05-05 Reiterated Rating Zephirin Group Hold $12.00
2016-05-02 Reiterated Rating JPMorgan Chase & Co. Sell $9.00
2016-04-19 Upgrade DNB Markets Sell to Hold
2016-04-18 Upgrade Deutsche Bank Sell to Hold $4.00 to $9.00
2016-04-18 Upgrade Deutsche Bank AG Sell to Hold $4.00 to $9.00
2016-04-17 Reiterated Rating Goldman Sachs Hold
2016-04-17 Reiterated Rating Goldman Sachs Group Inc. Hold
2016-04-15 Lower Price Target Goldman Sachs Neutral $13.00 to $9.00
2016-04-15 Upgrade Morgan Stanley Underweight to Equal Weight $10.00 to $14.00
2016-04-12 Reiterated Rating Clarkson Capital Sell
2016-04-08 Initiated Coverage Nomura Reduce $6.00
2016-04-08 Initiated Coverage Nomura Holdings Inc. Reduce $6.00
2016-03-28 Downgrade Barclays Equal Weight to Underweight $7.00
2016-03-28 Downgrade Barclays PLC Equal Weight to Underweight $7.00
2016-03-21 Lower Price Target Cowen and Company $13.00 to $9.50
2016-03-16 Lower Price Target Citigroup Inc. Neutral $11.00 to $9.00
2016-03-15 Reiterated Rating Seaport Global Securities Reduce
2016-03-14 Boost Price Target Seaport Global Securities $7.00 to $8.00
2016-02-29 Reiterated Rating KLR Group Buy $14.00
2016-02-29 Lower Price Target Jefferies Group Hold $10.00 to $8.00
2016-02-29 Lower Price Target Barclays Equal Weight $9.00 to $7.00
2016-02-28 Downgrade Wells Fargo Outperform to Underperform
2016-02-28 Downgrade Wells Fargo & Co. Outperform to Underperform
2016-02-26 Lower Price Target Zephirin Group Hold $16.00 to $12.00
2016-02-26 Boost Price Target Iberia Capital Sector Perform $9.00 to $17.00
2016-02-26 Reiterated Rating Citigroup Inc. Neutral
2016-02-18 Boost Price Target Zephirin Group Hold $12.00 to $16.00
2016-02-05 Reiterated Rating Barclays Equal Weight $18.00 to $9.00
2016-02-02 Boost Price Target Barclays Equal Weight $9.00 to $18.00
2016-01-29 Lower Price Target Jefferies Group $19.00 to $10.00
2016-01-29 Downgrade Citigroup Inc. Buy to Hold $9.00
2016-01-21 Lower Price Target Stephens $18.00 to $10.00
2016-01-19 Lower Price Target Deutsche Bank Sell $13.00 to $11.00
2016-01-15 Reiterated Rating Citigroup Inc. Buy
2016-01-07 Initiated Coverage Stephens Equal Weight
2016-01-07 Lower Price Target Cowen and Company Market Perform $15.00 to $13.00
2015-12-27 Reiterated Rating Evercore ISI Buy
2015-12-21 Reiterated Rating Evercore ISI Buy
2015-12-15 Reiterated Rating JPMorgan Chase & Co. Underweight
2015-12-14 Initiated Coverage KLR Group Buy $20.00
2015-11-30 Upgrade Guggenheim Neutral to Buy $21.00
2015-11-19 Reiterated Rating Jefferies Group Hold $16.00 to $19.00
2015-11-10 Downgrade Clarkson Capital Neutral to Sell
2015-11-05 Reiterated Rating Citigroup Inc. Buy $24.00
2015-10-30 Boost Price Target Jefferies Group $15.00 to $16.00
2015-10-20 Lower Price Target Seaport Global Securities Reduce $13.00 to $12.00
2015-10-20 Initiated Coverage Citigroup Inc. Buy $20.00
2015-10-19 Lower Price Target Susquehanna Neutral $19.00 to $18.00
2015-10-15 Lower Price Target Societe Generale $18.50 to $17.00
2015-10-14 Lower Price Target JPMorgan Chase & Co. $18.00 to $11.00
2015-10-08 Initiated Coverage KeyBanc Sector Weight
2015-10-08 Initiated Coverage KeyCorp Sector Weight
2015-10-02 Lower Price Target Jefferies Group Hold $15.00
2015-09-28 Reiterated Rating Deutsche Bank Sell $14.00 to $13.00
2015-09-09 Downgrade Tudor Pickering Accumulate to Hold
2015-09-03 Reiterated Rating Credit Suisse Hold $18.00 to $14.00
2015-09-03 Reiterated Rating Credit Suisse Group AG Hold $18.00 to $14.00
2015-08-21 Lower Price Target Global Hunter Securities $16.00 to $13.00
2015-08-21 Lower Price Target Seaport Global Securities $16.00 to $13.00
2015-08-13 Lower Price Target Barclays Equal Weight $27.00 to $19.00
2015-08-03 Lower Price Target Credit Suisse Neutral $20.00 to $18.00
2015-07-31 Reiterated Rating Scotiabank Sector Outperform $30.00 to $25.00
2015-07-31 Reiterated Rating Deutsche Bank Sell $19.00 to $14.00
2015-07-31 Lower Price Target Howard Weil Sector Outperform $30.00 to $25.00
2015-07-31 Lower Price Target RBC Capital Sector Perform $25.00 to $23.00
2015-07-31 Lower Price Target Royal Bank Of Canada Sector Perform $25.00 to $23.00
2015-07-18 Lower Price Target Cowen and Company Market Perform $24.00 to $20.00
2015-06-26 Reiterated Rating Jefferies Group Hold $23.00 to $21.00
2015-06-22 Reiterated Rating Wells Fargo & Co. Market Perform
2015-06-22 Reiterated Rating Wells Fargo Market Perform
2015-06-19 Lower Price Target Susquehanna Neutral $26.00 to $24.00
2015-06-19 Lower Price Target JPMorgan Chase & Co. Underweight $21.00 to $20.00
2015-06-11 Initiated Coverage Barclays Equal Weight $27.00
2015-05-29 Initiated Coverage JPMorgan Chase & Co. Underweight $21.00
2015-05-26 Lower Price Target Jefferies Group Hold $25.00 to $23.00
2015-05-09 Reiterated Rating Global Hunter Securities Reduce $22.00 to $23.00
2015-05-09 Reiterated Rating Jefferies Group Hold $25.00
2015-05-09 Reiterated Rating Seaport Global Securities Reduce $22.00 to $23.00
2015-05-05 Upgrade Evercore ISI Hold
2015-04-22 Downgrade Morgan Stanley Equal Weight to Underweight $31.50 to $27.50
2015-04-16 Downgrade Global Hunter Securities Neutral to Reduce
2015-04-16 Downgrade Seaport Global Securities Neutral to Reduce
2015-03-24 Lower Price Target FBR & Co. Market Perform $45.00 to $25.00
2015-03-24 Lower Price Target FBR & Co Market Perform $45.00 to $25.00
2015-03-13 Initiated Coverage Susquehanna Neutral $23.00
2015-03-03 Downgrade Societe Generale Buy to Hold $34.00 to $27.00
2015-03-02 Downgrade BMO Capital Markets Market Perform to Underperform $30.00 to $17.00
2015-02-18 Initiated Coverage BMO Capital Markets Market Perform $30.00
2015-02-02 Reiterated Rating Jefferies Group Hold $32.00 to $25.00
2015-01-08 Lower Price Target Jefferies Group Hold $37.00 to $32.00
2015-01-06 Upgrade Societe Generale Hold to Buy
2014-12-19 Upgrade Tudor Pickering Hold to Accumulate
2014-12-03 Initiated Coverage Jefferies Group Hold $37.00
2014-11-14 Boost Price Target Deutsche Bank Sell $29.00 to $33.00
2014-10-31 Reiterated Rating Credit Suisse Neutral $55.00 to $45.00
2014-10-15 Reiterated Rating Deutsche Bank Sell $41.00 to $29.00
2014-10-15 Initiated Coverage Evercore ISI Buy
2014-10-02 Reiterated Rating FBR & Co. Market Perform $45.00 to $52.00
2014-09-03 Upgrade Standpoint Research Hold to Buy $60.00
2014-08-26 Reiterated Rating FBR & Co. Market Perform $57.00 to $52.00
2014-08-05 Boost Price Target Global Hunter Securities $4.00 to $49.00
2014-08-05 Boost Price Target Seaport Global Securities $4.00 to $49.00
2014-08-04 Downgrade BMO Capital Markets Hold to Sell $52.00 to $41.00
2014-08-04 Downgrade Deutsche Bank Hold to Sell $52.00 to $41.00
2014-08-01 Reiterated Rating Jefferies Group Hold $56.00 to $54.00
2014-07-16 Downgrade Guggenheim Buy to Neutral $64.00 to $58.00
2014-07-15 Upgrade BMO Capital Markets Underperform to Market Perform $48.00 to $55.00
2014-07-10 Boost Price Target Goldman Sachs $48.00 to $50.00
2014-06-23 Boost Price Target Guggenheim Buy $60.00 to $64.00
2014-06-19 Reiterated Rating Barclays Equal Weight $42.00 to $40.00
2014-05-19 Downgrade Jefferies Group Buy to Hold $58.00 to $56.00
2014-05-16 Reiterated Rating Barclays Equal Weight $44.00 to $42.00
2014-05-08 Downgrade Nordea Equity Research Hold to Sell $53.00 to $46.00
2014-05-05 Lower Price Target JPMorgan Chase & Co. $66.00 to $59.00
2014-05-01 Reiterated Rating Deutsche Bank Hold $52.00
2014-04-30 Lower Price Target Howard Weil Sector Outperform $80.00 to $68.00
2014-04-30 Downgrade Global Hunter Securities Buy to Neutral $53.00
2014-04-30 Reiterated Rating Citigroup Inc. Buy $62.00
2014-04-30 Lower Price Target Barclays Underweight $45.00 to $44.00
2014-04-30 Lower Price Target Societe Generale $55.00 to $54.00
2014-04-30 Downgrade Seaport Global Securities Buy to Neutral $53.00
2014-04-29 Reiterated Rating Morgan Stanley Equal Weight $59.00
2014-04-17 Lower Price Target Barclays Equal Weight $47.00 to $45.00
2014-04-08 Lower Price Target Barclays Equal Weight $50.00 to $47.00
2014-03-21 Lower Price Target Jefferies Group Buy $58.00
2014-03-21 Upgrade Guggenheim Neutral to Buy $60.00
2014-03-19 Reiterated Cowen Market Perform $56 to $52
2014-03-19 Lower Price Target Cowen and Company Market Perform $56.00 to $52.00
2014-03-17 Reiterated Rating Credit Suisse Neutral $63.00 to $55.00
2014-03-10 Lower Price Target Global Hunter Securities $56.00 to $53.00
2014-03-09 Reiterated Rating Wunderlich Hold $61.00
2014-03-09 Reiterated Rating Jefferies Group Buy $68.00
2014-03-09 Reiterated Rating Societe Generale Hold $61.00
2014-03-09 Reiterated Rating Cowen and Company Hold $62.00
2014-03-09 Reiterated Rating RBC Capital Hold $61.00
2014-03-08 Reiterated Rating FBR & Co. Hold $57.00
2014-03-05 Boost Price Target Sanford C. Bernstein Market Perform $54.00 to $55.00
2014-02-03 Downgrade Raymond James Outperform to Market Perform
2014-01-29 Lower Price Target FBR & Co. Market Perform $62.00 to $57.00
2014-01-29 Downgrade Simmons Overweight to Neutral
2014-01-24 Downgrade Wells Fargo & Co. Outperform to Market Perform
2014-01-24 Downgrade Wells Fargo Outperform to Market Perform
2014-01-23 Downgrade Nordea Equity Research Buy to Hold
2014-01-22 Downgrade Tudor Pickering Buy to Hold
2014-01-09 Downgrade Howard Weil Focus List to Outperform $80.00
2013-12-18 Reiterated RBC Capital Mkts Sector Perform $64 to $61
2013-12-18 Lower Price Target RBC Capital Sector Perform $64.00 to $61.00
2013-12-06 Initiated Coverage FBR & Co. Outperform to Market Perform
2013-11-21 Lower Price Target Wunderlich Hold $64.00 to $61.00
2013-11-06 Upgrade Nordea Equity Research Hold to Buy $61.00 to $68.00
2013-10-28 Boost Price Target Societe Generale Hold $58.00 to $61.00
2013-10-28 Boost Price Target Cowen and Company Market Perform $60.00 to $62.00
2013-10-18 Lower Price Target RBC Capital Sector Perform $64.00 to $61.00
2013-10-16 Downgrade BMO Capital Markets Market Perform to Underperform
2013-10-11 Downgrade Societe Generale Buy to Hold $70.00 to $58.00
2013-10-08 Lower Price Target JPMorgan Chase & Co. Neutral $53.00 to $50.00
2013-09-25 Downgrade Guggenheim Buy to Neutral $68.00 to $60.00
2013-09-20 Lower Price Target Jefferies Group Buy $72.00 to $68.00
2012-04-11 Reiterated FBR Capital Outperform $75 to $77
2012-02-21 Downgrade Standpoint Research Buy to Hold
2016-07-10 Reiterated Rating Jefferies Group Hold
2016-06-29 Reiterated Rating Evercore ISI Buy
2016-06-28 Upgrade Susquehanna Negative to Neutral
2016-06-19 Initiated Coverage Bank of America Underperform $9.00 to $10.53
2016-06-19 Initiated Coverage Bank of America Corp. Underperform $9.00 to $10.53

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks