BlueCrest Capital Management Ltd purchased a new stake in Rowan Companies PLC (NYSE:RDC) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 54,502 shares of the oil and gas company’s stock, valued at approximately $558,000.

Several other hedge funds have also recently made changes to their positions in the company. Neuberger Berman Group LLC increased its position 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 in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Rowan Companies PLC by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,403 shares of the oil and gas company’s stock valued at $188,000 after buying an additional 71 shares in the last quarter. Comerica Bank increased its position in shares of Rowan Companies PLC by 0.3% in the second quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock valued at $1,182,000 after buying an additional 267 shares in the last quarter. Virginia Retirement Systems ET AL increased its position in shares of Rowan Companies PLC by 1.7% in the second quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock valued at $240,000 after buying an additional 400 shares in the last quarter. Finally, Retirement Systems of Alabama increased its position in shares of Rowan Companies PLC by 0.3% in the second quarter. Retirement Systems of Alabama now owns 162,562 shares of the oil and gas company’s stock valued at $1,665,000 after buying an additional 546 shares in the last quarter.

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A number of research analysts have recently weighed in on the company. ValuEngine cut Rowan Companies PLC from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Royal Bank Of Canada set a $14.00 price target on Rowan Companies PLC and gave the company a “hold” rating in a research report on Sunday, October 8th. Nomura dropped their price target on Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 3rd. BMO Capital Markets set a $12.00 price target on Rowan Companies PLC and gave the company a “hold” rating in a research report on Saturday, August 5th. Finally, TheStreet cut Rowan Companies PLC from a “c” rating to a “d” rating in a research report on Wednesday, August 2nd. Four equities research 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. The stock has an average rating of “Hold” and a consensus price target of $16.38.

Rowan Companies PLC (NYSE:RDC) opened at 13.71 on Monday. The firm’s market cap is $1.73 billion. The stock has a 50 day moving average price of $11.61 and a 200 day moving average price of $12.06. Rowan Companies PLC has a 12 month low of $9.02 and a 12 month high of $21.68.

Rowan Companies PLC (NYSE:RDC) last issued its 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 positive return on equity of 0.51% and a negative net margin of 2.62%. The business had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $296.87 million. During the same period in the prior year, the firm posted $0.75 EPS. Rowan Companies PLC’s quarterly revenue was down 47.7% compared to the same quarter last year. On average, equities analysts expect that Rowan Companies PLC will post ($0.96) earnings per share for the current fiscal year.

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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