NEW YORK ( TheStreet) -- Ensco (NYSE: ESV) is trading at unusually high volume Friday with 10.4 million shares changing hands. It is currently at four times its average daily volume and trading up $2.84 (+5.5%) at $54.43 as of 3:55 p.m. ET.
Ensco has a market cap of $11.45 billion and is part of the basic materials sector and energy industry. Shares are up 4.8% year to date as of the close of trading on Thursday. Ensco plc provides offshore contract drilling services to the oil and gas industry worldwide. The company has a P/E ratio of 13.1, below the average energy industry P/E ratio of 13.5 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Ensco as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, good cash flow from operations, compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. You can view the full Ensco Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.