Rhumbline Advisers cut its holdings in Rowan Companies PLC (NYSE:RDC) by 8.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 222,697 shares of the oil and gas company’s stock after selling 19,620 shares during the period. Rhumbline Advisers owned approximately 0.18% of Rowan Companies worth $3,487,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of RDC. LMR Partners LLP purchased a new position in shares of Rowan Companies in the third quarter valued at about $165,000. Crossmark Global Holdings Inc. purchased a new position in shares of Rowan Companies during the third quarter valued at about $276,000. New Mexico Educational Retirement Board bought a new stake in Rowan Companies during the fourth quarter worth about $440,000. GSA Capital Partners LLP boosted its stake in Rowan Companies by 53.6% during the third quarter. GSA Capital Partners LLP now owns 30,484 shares of the oil and gas company’s stock worth $392,000 after acquiring an additional 10,635 shares in the last quarter. Finally, Virginia Retirement Systems ET AL boosted its stake in Rowan Companies by 32.7% during the third quarter. Virginia Retirement Systems ET AL now owns 31,096 shares of the oil and gas company’s stock worth $400,000 after acquiring an additional 7,664 shares in the last quarter.
Several research analysts have recently issued reports on the stock. ValuEngine downgraded shares of Rowan Companies from a “hold” rating to a “sell” rating in a research note on Monday, April 2nd. Zacks Investment Research upgraded shares of Rowan Companies from a “sell” rating to a “hold” rating in a research report on Monday, April 2nd. Piper Jaffray set a $15.00 price objective on shares of Rowan Companies and gave the company a “hold” rating in a research report on Friday, March 16th. Cowen restated a “hold” rating and set a $12.00 price objective on shares of Rowan Companies in a research report on Thursday, March 15th. Finally, Jefferies Group set a $13.00 target price on shares of Rowan Companies and gave the company a “hold” rating in a report on Thursday, March 1st. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $14.69.
Rowan Companies stock opened at $12.60 on Friday. The stock has a market capitalization of $1,513.95, a PE ratio of -19.69 and a beta of 1.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 6.06 and a quick ratio of 6.06. Rowan Companies PLC has a 12-month low of $9.02 and a 12-month high of $17.33.
Rowan Companies (NYSE:RDC) last posted its quarterly earnings results on Wednesday, February 28th. The oil and gas company reported ($0.31) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.26) by ($0.05). The company had revenue of $296.70 million during the quarter, compared to analysts’ expectations of $270.28 million. Rowan Companies had a negative return on equity of 1.52% and a net margin of 5.67%. The company’s quarterly revenue was down 15.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.08 EPS. research analysts forecast that Rowan Companies PLC will post -3.4 EPS for the current year.
In other Rowan Companies news, CFO Stephen M. Butz sold 3,671 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $12.99, for a total transaction of $47,686.29. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.
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Rowan Companies Company Profile
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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