LSV Asset Management Continues to Hold Stake in Rowan Companies PLC (RDC)

LSV Asset Management held its stake in shares of Rowan Companies PLC (NYSE:RDC) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,492,715 shares of the oil and gas company’s stock at the end of the 2nd quarter. LSV Asset Management owned approximately 1.97% of Rowan Companies PLC worth $25,525,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of RDC. LS Investment Advisors LLC boosted its stake in Rowan Companies PLC by 24.8% during the 2nd quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock worth $106,000 after acquiring an additional 2,050 shares during the last quarter. Pacad Investment Ltd. bought a new position in Rowan Companies PLC during the 2nd quarter worth approximately $138,000. Prescott Group Capital Management L.L.C. bought a new position in Rowan Companies PLC during the 2nd quarter worth approximately $143,000. Neuberger Berman Group LLC boosted its stake in Rowan Companies PLC by 0.5% during the 1st quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock worth $159,000 after acquiring an additional 55 shares during the last quarter. Finally, Strs Ohio bought a new position in Rowan Companies PLC during the 2nd quarter worth approximately $181,000.

Shares of Rowan Companies PLC (RDC) opened at 10.04 on Tuesday. Rowan Companies PLC has a 12 month low of $9.02 and a 12 month high of $21.68. The stock has a 50 day moving average of $10.32 and a 200-day moving average of $12.72. The company’s market cap is $1.27 billion.

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 for the quarter, topping the consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. During the same quarter last year, the firm posted $0.75 EPS. The firm’s revenue for the quarter was down 47.7% on a year-over-year basis. Equities analysts forecast that Rowan Companies PLC will post ($0.95) earnings per share for the current year.

RDC has been the topic of several recent analyst reports. ValuEngine raised shares of Rowan Companies PLC from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Clarkson Capital raised shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Tuesday, May 30th. Jefferies Group LLC set a $15.00 price objective on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research note on Tuesday, June 6th. BidaskClub raised shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research note on Tuesday, June 13th. Finally, Seaport Global Securities lowered shares of Rowan Companies PLC from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $12.00 to $10.00 in a research note on Wednesday, June 21st. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company’s stock. Rowan Companies PLC presently has an average rating of “Hold” and an average target price of $16.40.

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

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