Barings LLC Continues to Hold Position in Rowan Companies PLC (RDC)

Barings LLC maintained its stake in Rowan Companies PLC (NYSE:RDC) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,200 shares of the oil and gas company’s stock at the end of the 2nd quarter. Barings LLC owned 0.05% of Rowan Companies PLC worth $1,031,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in RDC. BlackRock Inc. boosted its position in Rowan Companies PLC by 4,558.9% during the first quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after purchasing an additional 10,752,038 shares during the period. Northern Trust Corp boosted its position in Rowan Companies PLC by 145.7% during the second quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after purchasing an additional 1,869,194 shares during the period. Odey Asset Management Group Ltd bought a new stake in Rowan Companies PLC during the second quarter worth approximately $16,866,000. Key Group Holdings Cayman LTD. boosted its position in Rowan Companies PLC by 142.8% during the second quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock worth $28,501,000 after purchasing an additional 1,636,896 shares during the period. Finally, FMR LLC boosted its position in Rowan Companies PLC by 140.0% during the second quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock worth $16,800,000 after purchasing an additional 957,047 shares during the period.

A number of brokerages have issued reports on RDC. Deutsche Bank AG began coverage on Rowan Companies PLC in a research report on Tuesday. They set a “hold” rating and a $15.00 target price for the company. Royal Bank Of Canada set a $14.00 target price on Rowan Companies PLC and gave the stock a “hold” rating in a research report on Sunday. ValuEngine cut Rowan Companies PLC from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. UBS AG raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and increased their price objective for the company from $11.00 to $15.00 in a research report on Monday, September 25th. Finally, BidaskClub raised Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. Rowan Companies PLC presently has an average rating of “Hold” and an average target price of $16.38.

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Shares of Rowan Companies PLC (NYSE RDC) opened at 13.40 on Thursday. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68. The firm’s market capitalization is $1.69 billion. The stock has a 50 day moving average price of $11.32 and a 200-day moving average price of $12.10.

Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $296.87 million. During the same quarter in the previous year, the firm earned $0.75 EPS. Rowan Companies PLC’s revenue was down 47.7% on a year-over-year basis. On average, equities research analysts forecast that Rowan Companies PLC will post ($0.96) earnings per share for the current year.

About Rowan Companies PLC

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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