Energy & Utilities Sector Updates: Complementary Research on Noble Corporation, Ensco, Rowan Companies, Hornbeck Offshore, Atwood Oceanics
NEW YORK, May 14, 2015 /PRNewswire/ --
Editor Note: For more information about this release, please scroll to bottom.
Moments ago, Analysts Review released new research updates concerning several important developing situations including Noble Corporation (NYSE: NE), Ensco plc (NYSE: ESV), Rowan Companies plc (NYSE: RDC), Hornbeck Offshore Services (NYSE: HOS), and Atwood Oceanics, Inc. (NYSE: ATW). Analysts Review provides a single unified platform for investors' to hear about what matters - proudly employing registered CFA® research staff and rigorous compliance procedures. The full research reports are being made available to the public for informational purposes only.
To access our full PDF reports on a complementary basis, please visit the links below.
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Today's update concerns the following companies:
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Full PDF Download Links (you may have to copy and paste the following links into your browser):
NE Research Report: ( http://get.analystsreview.com/pdf/?c=Noble%20Corporation&d=14-May-2015&s=NE ),
ESV Research Report: ( http://get.analystsreview.com/pdf/?c=ENSCO%20plc&d=14-May-2015&s=ESV ),
RDC Research Report: ( http://get.analystsreview.com/pdf/?c=Rowan%20Companies&d=14-May-2015&s=RDC ),
HOS Research Report: ( http://get.analystsreview.com/pdf/?c=Hornbeck%20Offshore&d=14-May-2015&s=HOS ),
ATW Research Report: ( http://get.analystsreview.com/pdf/?c=Atwood%20Oceanics&d=14-May-2015&s=ATW ).
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Analyst Update: Upcoming Earnings and Financial & Operational Results
U.S. stocks closed virtually flat on Wednesday, amid disappointing monthly retail sales data. The Dow Jones Industrial Average fell 0.04%, to finish at 18,060.49, the S&P 500 edged down 0.03%, to 2,098.48, while the NASDAQ Composite rose modestly by 0.11%, to end the session at 4,981.69. European stocks mostly closed lower on Wednesday, despite positive economic growth data. Germany's DAX 30 declined 1.05%, and France's CAC 40 slipped 0.26%. In contrast, London's FTSE 100 closed 0.23% higher on Wednesday, mainly reflecting upbeat unemployment data. Meanwhile, Asian markets were mixed on Wednesday, amid weaker Chinese economic data. The Shanghai Composite and Hong Kong's Hang Seng were both down on Wednesday, while Japan's Nikkei closed higher.
Noble Corporation, a leading offshore drilling contractor for the oil and gas industry, in a company press release dated April 24, 2015 announced that its Board of Directors has scheduled the payment of the Company's quarterly cash dividend. Noble Corporation reported ex-dividend date as April 30, 2015, while the record date was set as May 4, 2015.
Ensco plc (Ensco), a United Kingdom-based offshore contract drilling company, announced on May 5, 2015 that the Company has entered into a three-year contract with NDC for a new premium jackup, ENSCO 110. The Company expects to commence operations in late-May 2015 sourcing to United Arab Emirates at a day rate of $114,000.
On May 6, 2015, Rowan Companies plc, a global provider of contract drilling services, announced its financial results for Q1 FY 2015. For the quarter, the Company reported total revenue of $547.0 million, an increase of 45% YoY boosted by contributions from three of the Company's newbuild ultra-deepwater drillships, low out of service time and significant cost control efforts.
On March 2, 2015, Hornbeck Offshore Services, Inc. announced that it has closed the sale of three 250EDF class OSVs for a cash consideration of $114 million, which is expected to result in a gain on sale of assets of approximately $33.0 million ($20.8 million after-tax or $0.57 per diluted share). The Company intends to use the proceeds from this transaction for managing debt, funding acquisition, construction or retrofit of vessels or discretionary share repurchases.
Atwood Oceanics, Inc., in its announcement dated April 17, 2015, reported that the Company has entered into an amendment to its contract for its semisubmersible drilling unit, the Atwood Osprey. The Company highlighted that the amendments include termination rights in relation to which the parties have agreed to a reduction in the term of the contract by one year with contractual rates remaining unchanged.
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Editor Note: This is not company news. We are an independent source and our views do not reflect the companies mentioned.
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