|Bid||6.170 x 5600|
|Ask||6.180 x 23300|
|Day's Range||6.050 - 6.220|
|52 Week Range||4.100 - 8.750|
|PE Ratio (TTM)||N/A|
|Earnings Date||Apr 26, 2018|
|Forward Dividend & Yield||0.04 (0.74%)|
|1y Target Est||6.32|
Ensco's (ESV) first-quarter 2018 results to gain from higher rig operations in the prospective resources. However, cash flow is a concern.
In this part, we’ll discuss analysts’ recommendations and target price revisions for offshore drilling (IYE) stocks in week 15 (week ending April 13, 2018).
Oil prices have recovered from two year lows recently amid dwindling supplies and higher export demand – and the outlook for the new year is positive. Crude stocks, other than the U.S. Strategic Petroleum Reserve, are at two-year lows due to greater demand and an effort on the part of oil producers to limit supply. The International Energy Agency says oversupply appears to be ending and OPEC and 10 other producers cut a deal earlier in December to extend production limits through the end of 2018.
On April 6–13, 2018, upstream stock California Resources (CRC) was the top gainer on our list of energy stocks. During this period, the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) rose 7.8%—the second-largest gainer among the energy subsector ETFs discussed in the previous part.
Ensco plc will hold its first quarter 2018 earnings conference call at 10:00 a.m. CDT on Thursday, 26 April 2018. The earnings release will be issued before the New York Stock Exchange opens that morning.
In the week ending April 6, 2018, HSBC revised the target prices and recommendations for two offshore drillers (OIH). In this part, we’ll discuss the revisions and analysts’ consensus recommendations. HSBC reduced the target price for Rowan Companies (RDC) to $15.33 from $17.9.
In the previous week, Rowan Companies (RDC) announced that its rig, Rowan Viking, secured a five-well contract with Shell UK (RDS.A) for work in the North Sea. The North Sea is one of the most vibrant segments in the offshore drilling (IYE) market. Rowan Viking is an N-class ultra-harsh environment jack-up rig. The contract is expected to commence in June 2018. The contract will continue for ~100 days. The company hasn’t disclosed the day rate for the new contract. Currently, Rowan Viking is working in Norway at a day rate of $219,000. Backlog
Ensco plc’s (NYSE:ESV) latest earnings announcement in December 2017 suggested that the company entered the red zone with earnings dropping into the negative territory due to recent headwinds. Below, I’veRead More...
Stock Monitor: TransAtlantic Petroleum Post Earnings Reporting LONDON, UK / ACCESSWIRE / April 09, 2018 / Active-Investors.com has just released a free earnings report on Ensco PLC (NYSE: ESV ). If you ...
NEW YORK, NY / ACCESSWIRE / April 6, 2018 / U.S. markets ended higher on Thursday for their third straight daily gain as technology stocks recover from a series of shortcomings. The Dow Jones Industrial ...
The US offshore rig count was 12 in the week ending March 29, 2018. The rig count dropped by one from the previous week. The rig count is still down by ten rigs year-over-year. The rig count is a key demand indicator for the offshore drilling industry. For Rowan Companies (RDC), 22% of its total revenue comes from the US Gulf of Mexico.
In February 2018, one drilling permit was issued in the Gulf of Mexico. No drilling permits were issued in January. For the first two months of 2018, one shallow-water drilling permit was issued—compared to three permits issued in the same period in 2017.
While small-cap stocks, such as Ensco plc (NYSE:ESV) with its market cap of US$1.92B, are popular for their explosive growth, investors should also be aware of their balance sheet toRead More...
Previously in this series, we discussed offshore drilling (OIH) companies’ 4Q17 EBITDA (earnings before interest, tax, depreciation, and amortization). In this part, we’ll discuss their free cash flow profiles. The “free cash flow” is operating cash flows minus capital expenditure.