16.80 -0.08 (-0.47%)
After hours: 7:16PM EDT
|Bid||0.00 x 1800|
|Ask||0.00 x 900|
|Day's Range||16.14 - 16.92|
|52 Week Range||10.31 - 21.92|
|PE Ratio (TTM)||N/A|
|Earnings Date||Oct 29, 2018 - Nov 2, 2018|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||15.95|
U.S. crude oil inventories jumped last week even as refining utilization remained high, the EIA said on Wednesday in a majorly bearish report.
Geopolitical concerns from Iran to Venezuela, along with worries over supply output and oil delivery disruptions, have led many investment experts to forecast higher oil prices. W&T Offshore ( WTI) and WPX Energy ( WPX) recently pulled back to key levels on the charts, suggesting it may be time to buy the dip. Both energy stocks could be ready to rally, if history is any indicator.
NEW YORK, Aug. 09, 2018-- In new independent research reports released early this morning, Fundamental Markets released its latest key findings for all current investors, traders, and shareholders of New ...
NEW YORK , Aug. 7, 2018 /PRNewswire/ -- Loews Corporation (NYSE: L) announced today the declaration of the Company's quarterly dividend of $0.0625 per share of Common Stock, payable September 11, 2018 ...
Rowan Companies (RDC) released its second-quarter results on August 1 before the markets opened. The offshore drilling contractor earned revenue of $241 million, beating Reuters’ consensus estimate by 15.9%. On July 31, Rowan Companies announced that ARO Drilling secured six three-year contracts with Saudi Aramco for Rowan’s jackup rigs currently operating in Saudi Arabia.
Rising oil prices have fueled a nice rally in energy stocks. But oil-services firms—which supply equipment and services to exploration and production companies—have been left in the oil patch’s dust. The ...
"The downgrade of Diamond to B2 reflects our expectation that the company's cash flow and credit metrics will significantly deteriorate over the remainder of 2018 and 2019," commented Pete Speer, Moody's Senior Vice President.
On July 26, after Ensco (ESV) released its second-quarter results, Jefferies raised the company’s target price to $6.5 from $6 and maintained a “hold” rating on the stock. Earlier in the month, Susquehanna raised Ensco’s target price to $7 from $5.
Rowan Companies (RDC) is set to release its second-quarter results tomorrow (August 1) before the markets open. Let’s see what analysts expect.
Transocean (RIG) released its second-quarter results yesterday after the markets closed. The company earned revenue of $790 million—3.18% higher than Reuters’s analyst estimate of $75.6 million. Revenues were 11.1% higher year-over-year and 26% higher sequentially. Transocean’s revenue was supported by higher revenue efficiency and utilization for the company’s ultra-deepwater fleet. Revenue efficiency rose to 97.4% in Q2 2018, compared to 91.5% in the prior quarter.
Ensco’s (ESV) operating cash flows represent the cash flows from its core operations. In the first half of 2018, Ensco had negative cash flows from operations of $18 million—compared to its positive cash flow of ~$130.5 million in the first half of 2017. Ensco’s capex for the first half of 2018 was $331.9 million, which included $277.7 million in a payment towards new rig construction.
In the previous two parts, we analyzed Ensco’s (ESV) revenues and costs. In this part, we’ll see where the company’s EBITDA could be heading.
Ensco’s (ESV) drilling expenses were $344 million in the second quarter—up from $291 million in the second quarter of 2017. The company’s drilling expenses rose mainly due to $47 million in costs associated with 11 Atwood Oceanics (ATW) rigs, the addition of ENSCO DS-10 into the active fleet, and $5 million in integration-related costs. Ensco expects its drilling expenses to decrease in the third quarter to $330 million.
As of June 30, Ensco (ESV) had a total contracted backlog of $2.3 billion—compared to $2.8 billion as of December 31, 2017. The decline in the company’s backlog was due to realized revenues during the first quarter—partially offset by contract extensions and new contract awards.
Ensco (ESV) expects its third-quarter revenues to be $425 million—a decrease of 7% sequentially. Lower revenues are expected due to the completion of Ensco’s contract on ENSCO 6001 and ENSCO MS-1. The lower revenues are also due to the idle period for ENSCO DS-12 before starting another contract.