We highlight Weatherford International Ltd. (WFT), Ensco International, Inc. (ESV), Exxon Mobil Corp. (XOM), Schlumberger Ltd. (SLB) and Diamond Offshore Drilling, Inc. (DO).In its weekly status report today, the Energy Information Administration (EIA) reported a greater-than-expected drawdown in crude oil and gasoline inventories. Despite the weekly drawdown, crude oil inventory levels remain close to their highest level since 1990.The demand picture also remains very weak. Total refined products supplied over the last four-week period, a proxy for overall petroleum demand, was down 7.6% from the year-earlier period, with gasoline down 1.2%, distillates (includes diesel) down 12%, and jet fuel down 9%.The market has been looking beyond these weak near-term fundamentals, taking solace from the growing optimism about the economic landscape. Our view has been that oil should be able to hold on to its recent gains and consolidate around ...

Here are the stocks added to the Zacks #5 Rank ("strong sell") List today:

AmericanWest Bancorp (AWBC) Atlas Energy Resources LLC (ATN) Avnet Inc (AVT) BGC Partners Inc (BGCP) Blyth Inc (BTH) The Boeing Co (BA) Bristow Group Inc (BRS) Brooks Automation Inc (BRKS) Carlisle Companies Inc (CSL) Cascade Bancorp (CACB) Columbia Sportswear Co (COLM) Commercial Vehicle Group Inc (CVGI) Consol Energy Inc (CNX) Cott Corp (COT) Danaos Corp (DAC) Dayton Superior Corp (DSUP) Deere & Co (DE) The Walt Disney Co (DIS) Echostar Corp (SATS) Ensco International Inc (ESV) CGG Veritas (CGV) Heritage-Crystal Clean Inc (HCCI) Hertz Global Holdings Inc (HTZ) KVH Industries Inc (KVHI) Lazard Ltd (LAZ) MB Financial Inc (MBFI) Media General Inc (MEG) Parke Bancorp Inc (PKBK) ...

Here are the stocks added to the Zacks #5 Rank ("strong sell") List today:

American Oil & Gas Inc (AEZ) Baker Hughes Inc (BHI) The Bank of New York Mellon Corp (BK) Callwave Inc (CALL) Capital Trust Inc (CT) Chunghwa Telecom Co Ltd (CHT) Concho Resources Inc (CXO) Daimler AG (DAI) DreamWorks Animation SKG Inc (DWA) Eaton Corp (ETN) Ensco International Inc (ESV) Fairfax Financial Holdings Ltd (FFH) Hartford Financial Services (HIG) Hawaiian Electric Industries Inc (HE) JDA Software Group Inc (JDAS) Lennox International Inc (LII) Nordson Corp (NDSN) Northern Trust Corp (NTRS) Reliance Steel & Aluminum (RS) S&T Bancorp Inc (STBA) Teck Cominco Ltd (TCK) Teleflex Inc (TFX) Weingarten Realty Investors (WRI) View the entire Zacks #5 Rank List.

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Dallas-based ENSCO International, Inc. (ESV) is a leading supplier of offshore contract drilling services to the oil and gas industry. The company's drilling fleet consists of 44 jackup rigs, two ultra-deepwater semi-submersible rigs (ENSCO 7500 and ENSCO 8500), and one barge rig. Additionally, the company has six ultra-deepwater semi-submersible rigs (ENSCO 8500 series) under construction.

ENSCO shares have been beaten down in recent days, broadly inline with its peer group, in response to the commodity-price weakness and overall market turmoil. The stock is down roughly 20% in the last four weeks alone, only modestly better than the 22% drop for offshore drillers (the S&P 500 pulled back roughly 15% during the same time period.

While we have liked this name all along, we think that valuation has become even more compelling following the recent sell off. ENSCO is a premier jackup driller in the Gulf of Mexico (GoM) with a

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