Ameriprise Financial Inc. grew its holdings in shares of Rowan Companies PLC (NYSE:RDC) by 8.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 939,383 shares of the oil and gas company’s stock after purchasing an additional 74,254 shares during the period. Ameriprise Financial Inc. owned about 0.74% of Rowan Companies worth $12,071,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of RDC. BlackRock Inc. increased its stake in Rowan Companies by 30.3% during the second quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock worth $146,590,000 after purchasing an additional 3,327,747 shares during the period. Northern Trust Corp increased its stake in Rowan Companies 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 purchased a new stake in Rowan Companies during the second quarter worth about $16,866,000. Key Group Holdings Cayman LTD. increased its stake in Rowan Companies 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, State Street Corp increased its stake in Rowan Companies by 24.1% during the second quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock worth $52,005,000 after purchasing an additional 986,257 shares during the period.

Shares of Rowan Companies PLC (RDC) opened at $13.70 on Tuesday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies PLC has a one year low of $9.02 and a one year high of $20.68.

Rowan Companies (NYSE:RDC) last released its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.26. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. The firm had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. During the same period in the prior year, the firm earned $0.30 earnings per share. The business’s quarterly revenue was down 23.1% compared to the same quarter last year. analysts expect that Rowan Companies PLC will post -0.65 earnings per share for the current year.

A number of analysts have issued reports on the stock. ValuEngine upgraded shares of Rowan Companies from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. UBS boosted their price target on shares of Rowan Companies from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. B. Riley reiterated a “buy” rating on shares of Rowan Companies in a research note on Wednesday, November 1st. Jefferies Group reiterated a “hold” rating and set a $15.00 price target on shares of Rowan Companies in a research note on Friday, November 3rd. Finally, Zacks Investment Research upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, October 17th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $16.52.

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Rowan Companies 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.

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

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