Kalos Management Inc. lifted its stake in shares of Rowan Companies PLC (NYSE:RDC) by 4.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,829 shares of the oil and gas company’s stock after buying an additional 993 shares during the period. Kalos Management Inc.’s holdings in Rowan Companies PLC were worth $254,000 at the end of the most recent quarter.
Several other large investors also recently made changes to their positions in the stock. Ameritas Investment Partners Inc. boosted its position in shares of Rowan Companies PLC by 27.7% during the second quarter. Ameritas Investment Partners Inc. now owns 47,237 shares of the oil and gas company’s stock valued at $484,000 after buying an additional 10,243 shares during the last quarter. Nomura Holdings Inc. bought a new stake in Rowan Companies PLC during the second quarter worth $615,000. The Manufacturers Life Insurance Company lifted its holdings in Rowan Companies PLC by 50.2% during the second quarter. The Manufacturers Life Insurance Company now owns 274,050 shares of the oil and gas company’s stock worth $2,806,000 after acquiring an additional 91,648 shares during the period. Cubist Systematic Strategies LLC lifted its holdings in Rowan Companies PLC by 270.2% during the second quarter. Cubist Systematic Strategies LLC now owns 42,926 shares of the oil and gas company’s stock worth $440,000 after acquiring an additional 31,331 shares during the period. Finally, Sciencast Management LP lifted its holdings in Rowan Companies PLC by 10.0% during the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,190 shares during the period.
A number of analysts recently commented on the company. Deutsche Bank AG assumed coverage on Rowan Companies PLC in a report on Tuesday. They set a “hold” rating and a $15.00 price target on the stock. Royal Bank Of Canada set a $14.00 price target on Rowan Companies PLC and gave the stock a “hold” rating in a report on Sunday. ValuEngine lowered Rowan Companies PLC from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. UBS AG upgraded Rowan Companies PLC from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $11.00 to $15.00 in a report on Monday, September 25th. Finally, BidaskClub upgraded Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.38.
Rowan Companies PLC (NYSE:RDC) traded down 1.34% during mid-day trading on Thursday, hitting $13.22. The company had a trading volume of 1,738,125 shares. The company’s market capitalization is $1.67 billion. The firm’s 50 day moving average is $11.32 and its 200 day moving average is $12.10. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68.
Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping the Zacks’ 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 for the quarter, compared to analysts’ expectations of $296.87 million. During the same period last year, the firm earned $0.75 EPS. Rowan Companies PLC’s revenue for the quarter was down 47.7% compared to the same quarter last year. On average, equities research analysts predict that Rowan Companies PLC will post ($0.96) EPS for the current year.
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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.
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