Rhumbline Advisers Buys 60,193 Shares of Rowan Companies PLC (NYSE:RDC)

Rhumbline Advisers lifted its position in Rowan Companies PLC (NYSE:RDC) by 26.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 285,312 shares of the oil and gas company’s stock after buying an additional 60,193 shares during the quarter. Rhumbline Advisers owned about 0.23% of Rowan Companies PLC worth $2,922,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the stock. Arizona State Retirement System increased its holdings in Rowan Companies PLC by 1.9% in the 2nd quarter. Arizona State Retirement System now owns 53,200 shares of the oil and gas company’s stock valued at $545,000 after buying an additional 1,000 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Rowan Companies PLC by 42.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,027,910 shares of the oil and gas company’s stock worth $20,766,000 after buying an additional 602,479 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in Rowan Companies PLC by 2.1% during the 2nd quarter. Canada Pension Plan Investment Board now owns 305,862 shares of the oil and gas company’s stock valued at $3,132,000 after purchasing an additional 6,300 shares during the period. Retirement Systems of Alabama lifted its position in Rowan Companies PLC by 0.3% during the 2nd quarter. Retirement Systems of Alabama now owns 162,562 shares of the oil and gas company’s stock valued at $1,665,000 after purchasing an additional 546 shares during the period. Finally, Texas Permanent School Fund lifted its position in Rowan Companies PLC by 1.3% during the 2nd quarter. Texas Permanent School Fund now owns 92,066 shares of the oil and gas company’s stock valued at $943,000 after purchasing an additional 1,206 shares during the period.

A number of brokerages recently weighed in on RDC. Nomura cut their price target on shares of Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating on the stock in a research report on Thursday, August 3rd. BMO Capital Markets set a $12.00 target price on Rowan Companies PLC and gave the stock a “hold” rating in a research note on Saturday, August 5th. TheStreet cut shares of Rowan Companies PLC from a “c” rating to a “d” rating in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and set a $15.00 price target on shares of Rowan Companies PLC in a research note on Thursday, August 3rd. Finally, ValuEngine raised shares of Rowan Companies PLC from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $16.50.

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Rowan Companies PLC (NYSE:RDC) opened at 11.24 on Friday. The firm’s market capitalization is $1.42 billion. The company has a 50 day moving average price of $10.24 and a 200-day moving average price of $12.58. Rowan Companies PLC has a 1-year low of $9.02 and a 1-year high of $21.68.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The business had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $296.87 million. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The firm’s quarterly revenue was down 47.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. On average, analysts forecast that Rowan Companies PLC will post ($0.95) EPS for the current fiscal year.

Rowan Companies PLC Company 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.

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

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