Arizona State Retirement System Has $1.28 Million Stake in Rowan Companies PLC (RDC)

Arizona State Retirement System boosted its stake in shares of Rowan Companies PLC (NYSE:RDC) by 26.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 81,779 shares of the oil and gas company’s stock after buying an additional 17,344 shares during the period. Arizona State Retirement System owned approximately 0.06% of Rowan Companies worth $1,281,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp increased its holdings in shares of Rowan Companies by 9.7% in the 3rd quarter. Van ECK Associates Corp now owns 1,534,208 shares of the oil and gas company’s stock worth $19,715,000 after purchasing an additional 135,386 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Rowan Companies by 17.8% in the third quarter. New York State Common Retirement Fund now owns 1,005,300 shares of the oil and gas company’s stock worth $12,918,000 after acquiring an additional 151,958 shares during the period. Contrarius Investment Management Ltd bought a new stake in shares of Rowan Companies in the third quarter worth $12,259,000. Ameriprise Financial Inc. grew its holdings in shares of Rowan Companies by 8.6% in the third quarter. Ameriprise Financial Inc. now owns 939,383 shares of the oil and gas company’s stock worth $12,071,000 after acquiring an additional 74,254 shares during the period. Finally, California Public Employees Retirement System grew its holdings in shares of Rowan Companies by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 697,824 shares of the oil and gas company’s stock worth $10,928,000 after acquiring an additional 6,208 shares during the period.

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Shares of NYSE:RDC traded down $0.04 during mid-day trading on Friday, reaching $12.60. The stock had a trading volume of 2,648,324 shares, compared to its average volume of 2,640,584. The company has a current ratio of 6.06, a quick ratio of 6.06 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1,590.98, a P/E ratio of -19.69 and a beta of 1.80. Rowan Companies PLC has a 1 year low of $9.02 and a 1 year high of $17.33.

Rowan Companies (NYSE:RDC) last posted its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.26) by ($0.05). The firm 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%. Rowan Companies’s quarterly revenue was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.08 earnings per share. research analysts forecast that Rowan Companies PLC will post -3.4 earnings per share for the current year.

In other Rowan Companies news, CFO Stephen M. Butz sold 3,671 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total transaction of $47,686.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.77% of the stock is currently owned by insiders.

Several analysts recently commented on RDC shares. Jefferies Group set a $16.00 price objective on Rowan Companies and gave the stock a “hold” rating in a report on Thursday, January 4th. B. Riley set a $16.00 price objective on Rowan Companies and gave the stock a “buy” rating in a report on Friday, January 5th. Piper Jaffray lowered Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 price objective for the company. in a report on Thursday, January 11th. Cowen set a $14.00 price objective on Rowan Companies and gave the stock a “hold” rating in a report on Thursday, January 11th. Finally, Susquehanna Bancshares set a $15.00 target price on Rowan Companies and gave the company a “hold” rating in a research report on Friday, January 12th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $14.69.

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About Rowan Companies

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.

Institutional Ownership by Quarter for Rowan Companies (NYSE:RDC)

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