Rowan Companies PLC (NYSE:RDC) Position Increased by Principal Financial Group Inc.
Principal Financial Group Inc. boosted its position in shares of Rowan Companies PLC (NYSE:RDC) by 3.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 518,215 shares of the oil and gas company’s stock after buying an additional 17,065 shares during the period. Principal Financial Group Inc. owned 0.41% of Rowan Companies PLC worth $8,074,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in RDC. 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 worth $159,000 after buying an additional 55 shares during the period. Renaissance Group LLC acquired a new stake in shares of Rowan Companies PLC during the first quarter worth $163,000. Parkwood LLC acquired a new stake in shares of Rowan Companies PLC during the first quarter worth $198,000. Livingston Group Asset Management CO operating as Southport Capital Management increased its stake 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 in the last quarter. Finally, Suntrust Banks Inc. increased its stake in Rowan Companies PLC by 3.3% in the first quarter. Suntrust Banks Inc. now owns 18,968 shares of the oil and gas company’s stock valued at $295,000 after buying an additional 604 shares in the last quarter.
Rowan Companies PLC (RDC) traded down 1.80% during mid-day trading on Friday, hitting $11.45. The company had a trading volume of 3,167,665 shares. The company’s market capitalization is $1.45 billion. The firm’s 50 day moving average is $11.13 and its 200 day moving average is $14.40. Rowan Companies PLC has a 52 week low of $9.74 and a 52 week high of $21.68.
Rowan Companies PLC (NYSE:RDC) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The company had revenue of $320.20 million for the quarter, compared to the consensus estimate of $296.87 million. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. Rowan Companies PLC’s quarterly revenue was down 47.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.75 earnings per share. On average, equities research analysts predict that Rowan Companies PLC will post ($0.92) EPS for the current year.
RDC has been the topic of several analyst reports. Fearnley Fonds raised Rowan Companies PLC to a “buy” rating in a research report on Friday, April 28th. Clarkson Capital raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, May 30th. ValuEngine raised Rowan Companies PLC from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. TheStreet cut Rowan Companies PLC from a “c” rating to a “d” rating in a research report on Wednesday. Finally, Barclays PLC cut their target price on Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Monday, May 1st. Four investment analysts have rated the stock with a sell rating, fifteen have given 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 $16.65.
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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