Ensco (ESV) Stock Up as Oil Makes Modest Recovery

Ensco (ESV) stock is rising this morning as oil prices slowly rebound.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Ensco (ESV)  are up 3.03% to $10.19 today as oil prices turn higher following two consecutive days of drops.

Crude oil (WTI) is up 0.35% to $45.30 per barrel with Brent crude up 0.47% to $46.62 per barrel.

Oil prices fell to a two-month low yesterday after the U.S. government released data showing a smaller-than-anticipated drop in weekly oil inventories. Domestic oil production also fell by 194,000 barrels to 8.43 million barrels per day.

The commodity is rebounding slightly today because the U.S. monthly jobs report showed a rapid acceleration in U.S. job growth in June following a dismal May report, easing some concerns about the market.

Nigerian militant forces are also impacting the price of oil, as the group launches another series of attacks on oil pipelines and installations in Nigeria's Delta region.

Ensco is a London-based offshore contract drilling company.

Separately, TheStreet Ratings rated this stock as a "sell" with a ratings score of D.

The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow and generally disappointing historical performance in the stock itself.

You can view the full analysis from the report here: ESV

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

Loading ...