4/17/2019 – Ensco plc (ESV)

  by Robert Brauer

Attention, those of you who own Ensco plc (ESV):  ESV has merged with Rowan Companies plc, to form a new company, Ensco Rowan plc, trading under the ESV ticker symbol. Pursuant to this transaction, ESV has enacted a 1 for 4 reverse stock split, to consolidate the shares of the new company. As a result, some alterations need to be made to your Snider Investment Method worksheets.

Lattco PRO & Lattco AutoPilot clients: the adjustments have been made for you and should be reflected in your account by next Trade Day.

We’re here to help! If you have a position in ESV, here is a link to the 1-for-4 split document that will tell you step-by-step what to do. Please contact us at  1-888-676-4337 or support@snideradvisors.com if you have any questions about your ESV position.

ESV is in a frustrating position as it has declined significantly since we initially purchased shares.  In most cases, it has been and will remain in winter until the price appreciates.  The reverse split may create additional difficulty in implementing the standard Snider Method.  At this time we are not recommending clients sell the shares.  If you reach a point where you can sell calls on your shares of ESV or the share price is similar to your last purchase price, please contact us.  We will evaluate the position together to decide if transmogrification is the appropriate course to take.

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