Energy Opportunities Capital Management LLC Sells 45,721 Shares of Rowan Companies PLC (RDC)

Energy Opportunities Capital Management LLC lessened its holdings in Rowan Companies PLC (NYSE:RDC) by 22.6% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 156,957 shares of the oil and gas company’s stock after selling 45,721 shares during the period. Energy Opportunities Capital Management LLC owned approximately 0.12% of Rowan Companies PLC worth $1,607,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Neuberger Berman Group LLC boosted its position in Rowan Companies PLC by 0.5% in the 1st quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 55 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of Rowan Companies PLC by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,403 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 71 shares during the last quarter. Comerica Bank lifted its position in shares of Rowan Companies PLC by 0.3% during the 2nd quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock worth $1,182,000 after purchasing an additional 267 shares during the last quarter. Virginia Retirement Systems ET AL lifted its position in shares of Rowan Companies PLC by 1.7% during the 2nd quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock worth $240,000 after purchasing an additional 400 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its position in shares of 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 worth $1,665,000 after purchasing an additional 546 shares during the last quarter.

Rowan Companies PLC (NYSE RDC) traded up 4.40% on Friday, reaching $13.76. 1,091,479 shares of the company’s stock were exchanged. Rowan Companies PLC has a 1-year low of $9.02 and a 1-year high of $21.68. The stock’s 50 day moving average price is $11.43 and its 200 day moving average price is $12.11. The firm’s market capitalization is $1.74 billion.

Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $320.20 million for the quarter, compared to the consensus estimate of $296.87 million. During the same period last year, the firm posted $0.75 EPS. The company’s revenue for the quarter was down 47.7% on a year-over-year basis. On average, analysts expect that Rowan Companies PLC will post ($0.96) earnings per share for the current year.

Several equities research analysts have recently issued reports on the stock. Deutsche Bank AG assumed coverage on shares of Rowan Companies PLC in a research report on Tuesday. They set a “hold” rating and a $15.00 price objective for the company. Royal Bank Of Canada set a $14.00 price objective on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research report on Sunday, October 8th. ValuEngine cut shares of Rowan Companies PLC from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Seaport Global Securities raised shares of Rowan Companies PLC from a “sell” rating to a “neutral” rating and lifted their price objective for the stock from $10.00 to $11.00 in a research report on Thursday, July 20th. Finally, TheStreet cut shares of Rowan Companies PLC from a “c” rating to a “d” rating in a research report on Wednesday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $16.38.

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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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