Top S&P 500 Dividend Stocks #5 – Ensco (ESV)
Another sector getting hurt by energy prices is the offshore drillers. Prices don’t support more exploration, which means rates paid for rigs are under pressure.
Those weak industry fundamentals have shares in Ensco (ESV) down nearly 8% so far this year. That said, ESV did manage to surpass analysts’ quarterly earnings forecast even as profits fell year-over year.
Offshore drilling stocks seem to have put the worst of the selling behind them, but there aren’t exactly screaming catalysts to get them moving again.
With a dividend yield of nearly 6%, at least ESV shareholders are getting paid well while they wait for energy demand to bounce back.