Rowan Companies PLC (RDC) Shares Bought by Numeric Investors LLC
Numeric Investors LLC grew its holdings in shares of Rowan Companies PLC (NYSE:RDC) by 109.5% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 428,849 shares of the oil and gas company’s stock after buying an additional 224,100 shares during the period. Numeric Investors LLC owned 0.34% of Rowan Companies PLC worth $4,391,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also bought and sold shares of the company. LS Investment Advisors LLC raised its stake in 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 worth $106,000 after buying an additional 2,050 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in Rowan Companies PLC in the second quarter worth about $138,000. Prescott Group Capital Management L.L.C. bought a new stake in Rowan Companies PLC during the 2nd quarter valued at approximately $143,000. Neuberger Berman Group LLC boosted its position in Rowan Companies PLC by 0.5% during the 1st quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after acquiring an additional 55 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new stake in Rowan Companies PLC during the 2nd quarter valued at approximately $161,000.
Rowan Companies PLC (RDC) opened at 12.74 on Wednesday. The firm has a 50-day moving average price of $10.65 and a 200-day moving average price of $12.14. Rowan Companies PLC has a 12 month low of $9.02 and a 12 month high of $21.68. The stock’s market cap is $1.61 billion.
Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share 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 firm had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $296.87 million. During the same quarter last year, the firm earned $0.75 EPS. The business’s quarterly revenue was down 47.7% on a year-over-year basis. Equities research analysts expect that Rowan Companies PLC will post ($0.94) earnings per share for the current fiscal year.
RDC has been the subject of several research reports. Royal Bank Of Canada reissued a “sell” rating and issued a $13.50 target price on shares of Rowan Companies PLC in a research report on Thursday, July 20th. BidaskClub lowered Rowan Companies PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Jefferies Group LLC reaffirmed a “hold” rating and issued a $12.00 price target (down from $15.00) on shares of Rowan Companies PLC in a research note on Tuesday, July 18th. BMO Capital Markets reaffirmed a “hold” rating and issued a $15.00 price target on shares of Rowan Companies PLC in a research note on Thursday, June 22nd. Finally, Seaport Global Securities upgraded Rowan Companies PLC from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $10.00 to $11.00 in a report on Thursday, July 20th. Four research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $16.41.
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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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