Louisiana State Employees Retirement System increased its position in Rowan Companies PLC (NYSE:RDC) by 3.8% during the second quarter, Holdings Channel reports. The institutional investor owned 32,900 shares of the oil and gas company’s stock after buying an additional 1,200 shares during the period. Louisiana State Employees Retirement System’s holdings in Rowan Companies PLC were worth $337,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of RDC. UBS Asset Management Americas Inc. increased its stake in shares of Rowan Companies PLC by 150.4% in the first quarter. UBS Asset Management Americas Inc. now owns 201,515 shares of the oil and gas company’s stock worth $3,140,000 after buying an additional 121,050 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Rowan Companies PLC during the first quarter worth about $659,000. Principal Financial Group Inc. increased its stake in shares of Rowan Companies PLC by 3.4% in the first quarter. Principal Financial Group Inc. now owns 518,215 shares of the oil and gas company’s stock worth $8,074,000 after buying an additional 17,065 shares in the last quarter. Oregon Public Employees Retirement Fund increased its stake in shares of Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock worth $685,000 after buying an additional 600 shares in the last quarter. Finally, Segantii Capital Management Ltd bought a new stake in shares of Rowan Companies PLC during the first quarter worth about $257,000.

Rowan Companies PLC (NYSE RDC) traded down 2.346% during mid-day trading on Wednesday, hitting $9.365. The company had a trading volume of 1,097,724 shares. The company’s market capitalization is $1.18 billion. The company has a 50-day moving average price of $10.85 and a 200 day moving average price of $13.80. Rowan Companies PLC has a 52-week low of $9.21 and a 52-week high of $21.68.

Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $320.20 million for the quarter, compared to analyst estimates of $296.87 million. During the same quarter in the prior year, the company earned $0.75 EPS. Rowan Companies PLC’s revenue was down 47.7% on a year-over-year basis. On average, analysts forecast that Rowan Companies PLC will post ($0.96) EPS for the current fiscal year.

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A number of analysts recently issued reports on RDC shares. BidaskClub upgraded Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Bank of America Corporation downgraded Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Barclays PLC lowered their price target on Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. ValuEngine downgraded Rowan Companies PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Clarkson Capital upgraded Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research report on Tuesday, May 30th. Four investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $16.37.

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.

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

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