Canada Pension Plan Investment Board grew its stake in shares of Rowan Companies PLC (NYSE:RDC) by 64.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 501,862 shares of the oil and gas company’s stock after acquiring an additional 196,000 shares during the period. Canada Pension Plan Investment Board owned 0.40% of Rowan Companies PLC worth $6,449,000 as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its holdings in Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock worth $106,000 after purchasing an additional 2,050 shares in the last quarter. Sciencast Management LP boosted its holdings in Rowan Companies PLC by 10.0% in the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after purchasing an additional 1,190 shares in the last quarter. Pacad Investment Ltd. bought a new stake in Rowan Companies PLC in the second quarter worth $138,000. Prescott Group Capital Management L.L.C. bought a new stake in Rowan Companies PLC in the second quarter worth $143,000. Finally, Capital Fund Management S.A. bought a new stake in Rowan Companies PLC in the second quarter worth $161,000.
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Shares of Rowan Companies PLC (RDC) opened at $14.69 on Tuesday. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.80.
Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.26. The business had revenue of $291.60 million for the quarter, compared to analysts’ expectations of $281.51 million. Rowan Companies PLC had a negative net margin of 4.76% and a negative return on equity of 0.61%. The firm’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. equities analysts expect that Rowan Companies PLC will post -0.8 EPS for the current year.
RDC has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated a “sell” rating and issued a $13.50 price objective on shares of Rowan Companies PLC in a report on Thursday, July 20th. Deutsche Bank AG initiated coverage on shares of Rowan Companies PLC in a research report on Tuesday, October 10th. They set a “hold” rating and a $15.00 target price for the company. Jefferies Group LLC reissued a “hold” rating and set a $12.00 target price (down previously from $15.00) on shares of Rowan Companies PLC in a research report on Tuesday, July 18th. HSBC Holdings plc initiated coverage on shares of Rowan Companies PLC in a research report on Thursday, October 19th. They set a “buy” rating and a $16.80 target price for the company. Finally, UBS AG raised shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $11.00 to $15.00 in a research report on Monday, September 25th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. Rowan Companies PLC currently has an average rating of “Hold” and a consensus price target of $16.52.
Rowan Companies PLC Profile
Rowan Companies plc is a provider of offshore contract drilling services to the international oil and gas industry. The Company operates through two segments: deepwater and jack-ups. Its deepwater segment consists of drillship operations. As of December 31, 2016, the Company’s fleet consisted of 29 mobile offshore drilling units, including 25 self-elevating jack-up rigs and four ultra-deepwater drillships.
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