Bullish Chart Formation for Ensco plc (ESV) After Forming Wedge Up Pattern

December 7, 2017 - By Vivian Park

Investors sentiment increased to 1.01 in Q2 2017. Its up 0.19, from 0.82 in 2017Q1. It is positive, as 51 investors sold Ensco plc shares while 94 reduced holdings. 51 funds opened positions while 96 raised stakes. 300.48 million shares or 19.02% more from 252.47 million shares in 2017Q1 were reported.
Ameritas Invest Partners reported 116,636 shares. Glenmede Tru Na holds 411 shares. Oakbrook Invs Limited Liability Corporation reported 11,200 shares stake. Bb&T Limited Liability Company owns 0% invested in Ensco plc (NYSE:ESV) for 10,576 shares. Moreover, Renaissance Tech Ltd Liability Com has 0.01% invested in Ensco plc (NYSE:ESV) for 946,100 shares. Jane Street Gru Limited Liability Co owns 0% invested in Ensco plc (NYSE:ESV) for 104,590 shares. Winfield Associates accumulated 380 shares. Sentinel Trust Com Lba stated it has 221,765 shares. 3.20 million were reported by Empyrean Capital Prtnrs L P. 197,582 were reported by Glg Ltd Partnership. Reilly Fincl Advsrs Limited Liability Co holds 0% or 3,700 shares. Franklin Res reported 580,852 shares or 0% of all its holdings. Amalgamated Comml Bank has invested 0.01% in Ensco plc (NYSE:ESV). Vanguard owns 25.57M shares or 0.01% of their US portfolio. M&T Fincl Bank Corp reported 60,340 shares.

The stock of Ensco plc (ESV) formed an up wedge with $5.87 target or 5.00 % above today’s $5.59 share price. The 6 months wedge indicates low risk for the $2.45 billion company. If the $5.87 price target is reached, the company will be worth $122.45M more.
Rising wedges, especially for downward breakouts are tricky moments to trade. Investors must be aware that the break even failure rate for up or down breakouts is: 8% and 24%. The average rise is 28% and the decline is 14%. Wedges has high throwback and pullback rate: 73%, 63% and the percent of wedges meeting target is not more than 50%.

The stock decreased 0.36% or $0.02 during the last trading session, reaching $5.59. About 8.53M shares traded. Ensco plc (NYSE:ESV) has declined 23.23% since December 8, 2016 and is downtrending. It has underperformed by 39.93% the S&P500.

Analysts await Ensco plc (NYSE:ESV) to report earnings on February, 26. They expect $-0.24 earnings per share, down 366.67 % or $0.33 from last year’s $0.09 per share. After $-0.05 actual earnings per share reported by Ensco plc for the previous quarter, Wall Street now forecasts 380.00 % negative EPS growth.

Ensco plc (NYSE:ESV) Ratings Coverage

Among 34 analysts covering Ensco Plc (NYSE:ESV), 14 have Buy rating, 5 Sell and 15 Hold. Therefore 41% are positive. Ensco Plc had 76 analyst reports since August 3, 2015 according to SRatingsIntel. The rating was downgraded by Fearnley to “Sell” on Wednesday, March 9. The stock of Ensco plc (NYSE:ESV) earned “Market Perform” rating by Cowen & Co on Thursday, January 7. FBR Capital maintained the shares of ESV in report on Friday, October 28 with “Mkt Perform” rating. The stock has “Hold” rating by Jefferies on Friday, October 27. The rating was upgraded by Guggenheim to “Buy” on Monday, November 30. Bank of America downgraded the shares of ESV in report on Friday, June 30 to “Underperform” rating. The stock of Ensco plc (NYSE:ESV) earned “Hold” rating by Jefferies on Thursday, November 19. On Friday, December 16 the stock rating was downgraded by Goldman Sachs to “Neutral”. Bank of America initiated the shares of ESV in report on Monday, June 13 with “Underperform” rating. The rating was initiated by Bernstein with “Outperform” on Friday, December 2.

More notable recent Ensco plc (NYSE:ESV) news were published by: Seekingalpha.com which released: “Ensco Ownership: Significant Accumulation Continues” on November 21, 2017, also Seekingalpha.com with their article: “Ensco: Why Day Rates Don’t Matter” published on November 08, 2017, Nasdaq.com published: “ENSCO plc (ESV) Ex-Dividend Date Scheduled for December 01, 2017” on November 30, 2017. More interesting news about Ensco plc (NYSE:ESV) were released by: Seekingalpha.com and their article: “Ensco Earnings Show Improving Conditions For The Company And Industry” published on November 14, 2017 as well as Nasdaq.com‘s news article titled: “Whitebox Advisors LLC Buys Ensco PLC, Dell-VMWare Tracking Stock, Basic Energy …” with publication date: November 18, 2017.

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