Great West Life Assurance Co. Can Continues to Hold Position in Rowan Cos. (RDC)
Great West Life Assurance Co. Can maintained its stake in Rowan Cos. (NYSE:RDC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,160 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Rowan Cos. were worth $163,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Nuveen Asset Management LLC boosted its stake in Rowan Cos. by 490.4% in the first quarter. Nuveen Asset Management LLC now owns 293,756 shares of the company’s stock worth $4,729,000 after buying an additional 244,000 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Rowan Cos. by 1,428.0% in the second quarter. BNP Paribas Arbitrage SA now owns 96,537 shares of the company’s stock worth $1,705,000 after buying an additional 90,219 shares during the last quarter. BlackRock Group LTD boosted its stake in Rowan Cos. by 105.7% in the first quarter. BlackRock Group LTD now owns 130,743 shares of the company’s stock worth $2,105,000 after buying an additional 67,171 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Rowan Cos. by 12.7% in the first quarter. Canada Pension Plan Investment Board now owns 27,600 shares of the company’s stock worth $444,000 after buying an additional 3,100 shares during the last quarter. Finally, James Investment Research Inc. purchased a new stake in Rowan Cos. during the second quarter worth approximately $261,000.
Rowan Cos. (NYSE:RDC) traded down 0.85% during mid-day trading on Tuesday, reaching $12.76. 3,030,213 shares of the company traded hands. The stock’s 50 day moving average price is $13.48 and its 200 day moving average price is $16.15. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.13 and a beta of 1.61. Rowan Cos. has a 52 week low of $10.67 and a 52 week high of $21.83.
Rowan Cos. (NYSE:RDC) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.81 by $0.06. The company had revenue of $611.90 million for the quarter, compared to analysts’ expectations of $470.98 million. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. The firm’s quarterly revenue was up 20.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.68 EPS. Equities analysts forecast that Rowan Cos. will post $1.66 EPS for the current year.
A number of equities research analysts recently commented on RDC shares. Citigroup Inc. decreased their target price on shares of Rowan Cos. from $20.00 to $15.00 and set a “neutral” rating for the company in a research report on Thursday, August 25th. Evercore ISI reissued a “buy” rating on shares of Rowan Cos. in a research report on Wednesday, June 29th. FBR & Co reissued a “buy” rating on shares of Rowan Cos. in a research report on Thursday, September 8th. Howard Weil started coverage on shares of Rowan Cos. in a research report on Wednesday, September 14th. They set a “sector perform” rating and a $17.00 target price for the company. Finally, Johnson Rice raised shares of Rowan Cos. from an “accumulate” rating to a “buy” rating in a research report on Monday, June 13th. Five research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and twelve have assigned a buy rating to the stock. Rowan Cos. has a consensus rating of “Hold” and a consensus target price of $17.78.
Rowan Cos. 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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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