Rowan Companies PLC (RDC) Shares Sold by Laurion Capital Management LP
Laurion Capital Management LP reduced its stake in Rowan Companies PLC (NYSE:RDC) by 76.6% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,400 shares of the oil and gas company’s stock after selling 96,146 shares during the period. Laurion Capital Management LP’s holdings in Rowan Companies PLC were worth $301,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its position in Rowan Companies PLC by 4,558.9% during the 1st quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after purchasing an additional 10,752,038 shares in the last quarter. MARSHALL WACE ASIA Ltd bought a new position in shares of Rowan Companies PLC in the 1st quarter valued at $31,069,000. Marshall Wace North America L.P. bought a new position in shares of Rowan Companies PLC in the 1st quarter valued at $31,069,000. AQR Capital Management LLC lifted its stake in shares of Rowan Companies PLC by 19.5% in the 1st 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 acquiring an additional 931,612 shares during the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of Rowan Companies PLC by 129.1% in the 1st quarter. Bank of America Corp DE now owns 197,144 shares of the oil and gas company’s stock valued at $3,071,000 after acquiring an additional 875,233 shares during the last quarter.
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RDC has been the topic of several recent research reports. UBS AG raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and raised their price objective for the company from $11.00 to $15.00 in a report on Monday, September 25th. ValuEngine upgraded shares of Rowan Companies PLC from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. BidaskClub raised shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. Royal Bank Of Canada raised shares of Rowan Companies PLC from an “underperform” rating to a “sector perform” rating and boosted their target price for the stock from $13.50 to $14.00 in a report on Friday, August 25th. Finally, BMO Capital Markets set a $12.00 price target on shares of Rowan Companies PLC and gave the company a “hold” rating in a research report on Saturday, August 5th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have assigned a buy rating to the stock. Rowan Companies PLC has an average rating of “Hold” and a consensus price target of $16.41.
Rowan Companies PLC (RDC) opened at 12.85 on Monday. The company’s market cap is $1.62 billion. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $21.68. The firm has a 50-day moving average price of $10.23 and a 200-day moving average price of $12.40.
Rowan Companies PLC (NYSE:RDC) last announced 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 negative net margin of 2.62% and a positive return on equity of 0.51%. The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s quarterly revenue was down 47.7% compared to the same quarter last year. Equities research analysts anticipate that Rowan Companies PLC will post ($0.95) EPS for the current fiscal year.
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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