Stifel Financial Corp lifted its position in Rowan Companies PLC (NYSE:RDC) by 109.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,225 shares of the oil and gas company’s stock after acquiring an additional 36,720 shares during the quarter. Stifel Financial Corp owned 0.06% of Rowan Companies worth $806,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in RDC. Assetmark Inc. lifted its holdings in shares of Rowan Companies by 3,057.4% in the 4th quarter. Assetmark Inc. now owns 8,525 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 8,255 shares during the last quarter. Investors Research Corp bought a new stake in shares of Rowan Companies in the 4th quarter worth about $177,000. Two Sigma Securities LLC bought a new stake in shares of Rowan Companies in the 4th quarter worth about $178,000. Virtu Financial LLC bought a new stake in shares of Rowan Companies in the 4th quarter worth about $184,000. Finally, Matarin Capital Management LLC bought a new stake in shares of Rowan Companies in the 1st quarter worth about $185,000. Hedge funds and other institutional investors own 99.71% of the company’s stock.
NYSE RDC opened at $16.22 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 6.03 and a quick ratio of 6.03. Rowan Companies PLC has a one year low of $9.02 and a one year high of $17.33.
Rowan Companies (NYSE:RDC) last posted its earnings results on Tuesday, May 1st. The oil and gas company reported ($0.89) EPS for the quarter, missing analysts’ consensus estimates of ($0.86) by ($0.03). The business had revenue of $211.20 million for the quarter, compared to analysts’ expectations of $207.33 million. Rowan Companies had a negative net margin of 4.46% and a negative return on equity of 3.83%. The company’s revenue for the quarter was down 43.6% on a year-over-year basis. During the same period last year, the business posted $0.07 EPS. equities analysts expect that Rowan Companies PLC will post -3.83 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on RDC shares. ValuEngine upgraded shares of Rowan Companies from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. Zacks Investment Research lowered shares of Rowan Companies from a “hold” rating to a “sell” rating in a report on Thursday, March 22nd. TheStreet lowered shares of Rowan Companies from a “c” rating to a “d+” rating in a report on Tuesday, May 1st. Piper Jaffray Companies set a $15.00 price objective on shares of Rowan Companies and gave the company a “hold” rating in a report on Friday, March 16th. Finally, Credit Suisse Group lifted their price objective on shares of Rowan Companies from $14.00 to $15.00 and gave the company a “neutral” rating in a report on Friday, May 4th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $14.16.
In other Rowan Companies news, VP Richard Jason Anderson sold 6,000 shares of the firm’s stock in a transaction dated Wednesday, June 20th. The shares were sold at an average price of $14.67, for a total transaction of $88,020.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.60% of the company’s stock.
Rowan Companies 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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