LS Investment Advisors LLC increased its stake in Rowan Companies PLC (NYSE:RDC) by 24.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,330 shares of the oil and gas company’s stock after buying an additional 2,050 shares during the period. LS Investment Advisors LLC’s holdings in Rowan Companies PLC were worth $106,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in RDC. Neuberger Berman Group LLC increased its position in 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. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in Rowan Companies PLC by 0.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,500 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 100 shares during the last quarter. State Treasurer State of Michigan increased its position in Rowan Companies PLC by 1.0% in the first quarter. State Treasurer State of Michigan now owns 51,000 shares of the oil and gas company’s stock valued at $795,000 after buying an additional 500 shares during the last quarter. Amalgamated Bank increased its position in Rowan Companies PLC by 3.1% in the first quarter. Amalgamated Bank now owns 19,915 shares of the oil and gas company’s stock valued at $310,000 after buying an additional 590 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in 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 valued at $685,000 after buying an additional 600 shares during the last quarter.

Shares of Rowan Companies PLC (NYSE RDC) remained flat at $9.94 on Friday. The stock had a trading volume of 2,605,927 shares. The stock’s market cap is $1.25 billion. The stock has a 50 day moving average of $10.91 and a 200 day moving average of $14.02. Rowan Companies PLC has a 1-year low of $9.71 and a 1-year high of $21.68.

Rowan Companies PLC (NYSE:RDC) last issued its quarterly earnings data 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. The firm had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $296.87 million. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. Rowan Companies PLC’s revenue for the quarter was down 47.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.75 earnings per share. On average, equities research analysts anticipate that Rowan Companies PLC will post ($0.97) earnings per share for the current year.

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Several research firms have weighed in on RDC. Jefferies Group LLC set a $15.00 price target on Rowan Companies PLC and gave the stock a “hold” rating in a research report on Tuesday, June 6th. Barclays PLC reissued a “hold” rating and set a $14.00 price target on shares of Rowan Companies PLC in a research report on Friday, August 4th. BMO Capital Markets reissued a “hold” rating and set a $15.00 price target on shares of Rowan Companies PLC in a research report on Thursday, June 22nd. Seaport Global Securities downgraded Rowan Companies PLC from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $12.00 to $10.00 in a research report on Wednesday, June 21st. Finally, 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. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Rowan Companies PLC has an average 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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