Russell Investments Group Ltd. reduced its stake in Rowan Companies PLC (NYSE:RDC) by 74.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 283,293 shares of the oil and gas company’s stock after selling 822,927 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Rowan Companies PLC worth $2,904,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Rowan Companies PLC by 4,558.9% in the first quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock valued at $171,191,000 after buying an additional 10,752,038 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Rowan Companies PLC by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,615,408 shares of the oil and gas company’s stock valued at $165,387,000 after buying an additional 477,442 shares during the period. AQR Capital Management LLC increased its position in shares of Rowan Companies PLC by 19.5% in the first quarter. AQR Capital Management LLC now owns 5,702,609 shares of the oil and gas company’s stock valued at $88,847,000 after buying an additional 931,612 shares during the period. Bank of New York Mellon Corp increased its position in shares of Rowan Companies PLC by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 2,330,321 shares of the oil and gas company’s stock valued at $36,306,000 after buying an additional 111,480 shares during the period. Finally, Thrivent Financial For Lutherans increased its position in shares of Rowan Companies PLC by 30.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,014,830 shares of the oil and gas company’s stock valued at $31,391,000 after buying an additional 467,760 shares during the period.

Rowan Companies PLC (NYSE RDC) traded down 2.41% on Wednesday, reaching $9.70. The company had a trading volume of 1,076,872 shares. The company’s 50-day moving average is $10.56 and its 200-day moving average is $13.36. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $21.68. The company’s market capitalization is $1.22 billion.

Rowan Companies PLC (NYSE:RDC) last issued its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The business had revenue of $320.20 million during the quarter, compared to analysts’ expectations 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 revenue was down 47.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.75 earnings per share. Equities analysts anticipate that Rowan Companies PLC will post ($0.95) EPS for the current fiscal year.

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Several equities analysts recently weighed in on RDC shares. Jefferies Group LLC reiterated a “hold” rating and issued a $12.00 price target (down previously from $15.00) on shares of Rowan Companies PLC in a report on Tuesday, July 18th. ValuEngine upgraded Rowan Companies PLC from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. BidaskClub upgraded Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Seaport Global Securities upgraded Rowan Companies PLC from a “sell” rating to a “neutral” rating and upped their price objective for the stock from $10.00 to $11.00 in a research report on Thursday, July 20th. Finally, Royal Bank Of Canada upgraded Rowan Companies PLC from an “underperform” rating to a “sector perform” rating and upped their price objective for the stock from $13.50 to $14.00 in a research report on Friday, August 25th. Three research analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have assigned a buy rating to the company’s stock. Rowan Companies PLC currently has a consensus rating of “Hold” and an average price target of $16.40.

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

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