8.45 0.00 (0.00%)
After hours: 4:55PM EDT
|Bid||8.43 x 4000|
|Ask||8.42 x 3100|
|Day's Range||8.39 - 8.99|
|52 Week Range||6.54 - 38.04|
|Beta (3Y Monthly)||2.62|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 1, 2019|
|Forward Dividend & Yield||0.16 (1.80%)|
|1y Target Est||19.96|
Ensco Rowan plc (ESV) (“EnscoRowan” or the “Company”) announced today the results to date of its previously announced cash tender offers (collectively, the “Tender Offers,” and each offer to purchase a series of notes individually, a “Tender Offer”) to purchase the outstanding notes of EnscoRowan and its wholly owned subsidiaries Ensco International Incorporated (“EII”) and Rowan Companies, Inc. (“Rowan”) set forth in the table below (collectively, the “Notes”), upon the terms and subject to the conditions described in the Offer to Purchase and Consent Solicitation Statement dated June 25, 2019 (as it may be amended or supplemented from time to time, the “Offer to Purchase and Consent Solicitation”). As of the early tender date of 5:00 p.m., New York City time, on July 9, 2019 (the “Early Tender Date”), EnscoRowan received valid tenders totaling $1,126.5 million aggregate principal amount of Notes as set forth in the table below.
ExxonMobil (XOM) provided an update on second-quarter 2019 earnings, while TC Energy (TRP) said that it would sell some assets of Columbia Midstream Group for $1.28 billion.
Last week (ended July 5), midstream stock EnLink Midstream LLC (ENLC) outperformed the energy space. Here's a summary of midstream stocks' performance.
Ensco Rowan plc (ESV) (the “Company”) announced today that it will change its name to Valaris plc, effective July 31, 2019. Following its name change, the Company’s ordinary shares will trade under the new ticker symbol VAL. The name Valaris was selected following a comprehensive process that included participation from the Company’s employees around the world, feedback from customers and other market research.
Ensco Rowan plc (ESV) (“EnscoRowan” or the “Company”) will hold its second quarter 2019 earnings conference call at 9:00 a.m. CDT (10:00 a.m. EDT and 3:00 p.m. London) on Thursday, 1 August 2019. The earnings release will be issued before the New York Stock Exchange opens that morning. A webcast replay and transcript of the call will be available on the Company’s website.
Ensco Rowan plc (ESV) (“EnscoRowan” or the “Company”) announced today that it has commenced cash tender offers (collectively, the “Tender Offers,” and each offer to purchase a series of notes individually, a “Tender Offer”) to purchase up to $600,000,000 aggregate purchase price, exclusive of accrued interest (the “Aggregate Maximum Purchase Amount”), of the outstanding notes of EnscoRowan and its wholly owned subsidiaries Ensco International Incorporated (“EII”) and Rowan Companies, Inc. (“Rowan”) set forth in the table below (collectively, the “Notes”). No more than $50,000,000 aggregate purchase price, exclusive of accrued interest (the “Capped Notes Tender Cap”), of the Company’s 7.75% Senior Notes due 2026 (the “Capped Notes”) will be purchased in the Tender Offers.
Last week, oilfield services stock Noble (NE) fell the most among the stocks in the energy space. Other oilfield services stocks Ensco (ESV), Superior Energy Services (SPN), and Nabors Industries (NBR) had the second, third, and fourth largest declines among energy stocks, respectively, last week.
Luminus believes that Ensco Rowan (ESV) stock will gain momentum, once the company shows commitment in returning capital back to the shareholders through dividend payment.
The Ensco Rowan plc (ESV) (“EnscoRowan” or the “Company”) board of directors received a proposal from Luminus Management, LLC (“Luminus”) dated June 12, 2019 (“the Proposal”). EnscoRowan’s board of directors welcomes investor perspectives on matters such as the Company’s capital structure and the return of capital to shareholders, and will evaluate the Proposal.
Deep-sea oil driller Ensco Rowan's investor Luminus Management LLC on Wednesday urged the company to declare a special dividend of $2.5 billion to its shareholders, sending its shares down 6.3%. Luminus, the investment advisor to funds and accounts that own 4.5% stake in Ensco Rowan, said it is disappointed by the stock's performance both before, and since, the Ensco-Rowan merger. Ensco Rowan's shares fell to their lowest in more than 26 years on Wednesday.
Despite being under the pump lately, there are investors who see the recent oil and gas slump as a temporary event and decide to build or increase their position in some of these companies.
Ensco Rowan plc announced today that it has received the consents necessary to effect the Proposed Amendments to each of the indentures governing the following outstanding senior notes listed in the table below, issued by the Rowan Companies, Inc.
Continental Resources' (CLR) board of directors approves a $1-billion share buyback program and quarterly dividend initiation.
Ensco Rowan plc (ESV) (“EnscoRowan” or the “Company”) announced today that it has commenced a consent solicitation (“Consent Solicitation”) on behalf of its wholly-owned subsidiary, Rowan Companies, Inc. (the “Issuer”), with respect to proposed amendments to each of the indentures (the “Indentures”) governing the following outstanding senior notes (together, the “Notes”) listed in the table below, issued by the Issuer and guaranteed by Rowan Companies plc. The purpose of the Consent Solicitation is to amend the Indentures so that, in the event that EnscoRowan becomes an obligor under the applicable Indenture, certain covenants therein will be amended to be conformed with the applicable covenants contained in the indentures governing the senior notes issued by EnscoRowan and to have such covenants apply to EnscoRowan rather than the Issuer (the “Conforming Amendments”).
After reviewing our long-term forecasts, we have revised our fair value estimates for the offshore drillers we cover. Diamond Offshore Drilling DO moved down to $7.25 per share from $10.50, Transocean RIG moved up to $6.75 per share from $6.50, Ensco Rowan ESV moved down to $10.25 per share from $15, and Noble NE moved down to $1.50 per share from $2.50. With the exception of Transocean, our fair value estimates moved significantly down as a result of more pessimistic long-term industry assumptions.
Ensco (ESV) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.
Royal Dutch Shell (RDS.A) started production at its Appomattox GoM platform. Meanwhile, Rattler Midstream Partners raised $665 million in the year's biggest energy IPO so far.