Bank of New York Mellon Corp trimmed its holdings in Rowan Companies PLC (NYSE:RDC) by 0.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 2,309,575 shares of the oil and gas company’s stock after selling 20,746 shares during the period. Bank of New York Mellon Corp owned 1.83% of Rowan Companies PLC worth $23,650,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RDC. LS Investment Advisors LLC raised its holdings in shares of Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 2,050 shares during the last quarter. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Rowan Companies PLC in the second quarter valued at about $143,000. Neuberger Berman Group LLC raised its holdings in shares of Rowan Companies PLC by 0.5% in the first 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 last quarter. Strs Ohio purchased a new stake in shares of Rowan Companies PLC in the second quarter valued at about $181,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Rowan Companies PLC in the first quarter valued at about $189,000.

A number of equities research analysts have recently commented on the stock. BidaskClub raised shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Jefferies Group LLC set a $15.00 target price on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, June 6th. ValuEngine cut shares of Rowan Companies PLC from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Clarkson Capital raised shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a report on Tuesday, May 30th. Finally, Royal Bank Of Canada reaffirmed a “sell” rating and issued a $13.50 target price on shares of Rowan Companies PLC in a report on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.36.

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Rowan Companies PLC (NYSE RDC) opened at 11.07 on Friday. The firm’s 50-day moving average is $10.25 and its 200 day moving average is $12.63. Rowan Companies PLC has a 12 month low of $9.02 and a 12 month high of $21.68. The firm’s market capitalization is $1.40 billion.

Rowan Companies PLC (NYSE:RDC) last released 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 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 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. Equities analysts predict that Rowan Companies PLC will post ($0.95) earnings per share for the current year.

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.

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

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