Aperio Group LLC Decreases Position in Rowan Companies PLC (RDC)
Aperio Group LLC decreased its position in Rowan Companies PLC (NYSE:RDC) by 16.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 118,603 shares of the oil and gas company’s stock after selling 23,108 shares during the period. Aperio Group LLC owned about 0.09% of Rowan Companies PLC worth $1,214,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can increased its position in Rowan Companies PLC by 37.5% in the first quarter. Bank of Montreal Can now owns 97,520 shares of the oil and gas company’s stock worth $1,518,000 after buying an additional 26,602 shares in the last quarter. Capstone Asset Management Co. increased its position in Rowan Companies PLC by 4.4% in the first quarter. Capstone Asset Management Co. now owns 20,298 shares of the oil and gas company’s stock worth $316,000 after buying an additional 850 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Rowan Companies PLC during the first quarter worth about $659,000. Louisiana State Employees Retirement System increased its position in Rowan Companies PLC by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,700 shares of the oil and gas company’s stock worth $494,000 after buying an additional 700 shares in the last quarter. Finally, James Investment Research Inc. increased its position in Rowan Companies PLC by 626.9% in the first quarter. James Investment Research Inc. now owns 116,302 shares of the oil and gas company’s stock worth $1,812,000 after buying an additional 100,302 shares in the last quarter.
Shares of Rowan Companies PLC (NYSE:RDC) traded down 4.990% during mid-day trading on Tuesday, reaching $9.425. The company’s stock had a trading volume of 1,842,669 shares. The company’s 50-day moving average price is $10.89 and its 200-day moving average price is $13.87. Rowan Companies PLC has a 12-month low of $9.21 and a 12-month high of $21.68. The stock’s market capitalization is $1.19 billion.
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, beating the 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 company had revenue of $320.20 million for the quarter, compared to the consensus estimate of $296.87 million. During the same quarter last year, the company earned $0.75 EPS. The firm’s quarterly revenue was down 47.7% on a year-over-year basis. On average, equities research analysts forecast that Rowan Companies PLC will post ($0.97) earnings per share for the current fiscal year.
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RDC has been the topic of a number of analyst reports. BMO Capital Markets set a $15.00 price objective on shares of Rowan Companies PLC and gave the stock a “hold” rating in a report on Tuesday, April 18th. Credit Suisse Group reaffirmed a “hold” rating and set a $21.00 price objective on shares of Rowan Companies PLC in a report on Friday, April 21st. Fearnley Fonds upgraded Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th. Barclays PLC lowered 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 note on Monday, May 1st. Finally, Deutsche Bank AG lowered their target price on Rowan Companies PLC from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Four research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $16.37.
About Rowan Companies PLC
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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