Teachers Advisors LLC lifted its position in Rowan Companies PLC (NYSE:RDC) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 895,296 shares of the oil and gas company’s stock after buying an additional 15,487 shares during the quarter. Teachers Advisors LLC owned about 0.71% of Rowan Companies PLC worth $9,168,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently modified their holdings of RDC. Robeco Institutional Asset Management B.V. boosted its holdings in shares of Rowan Companies PLC by 21.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,051,500 shares of the oil and gas company’s stock worth $10,768,000 after buying an additional 186,754 shares during the period. Rhumbline Advisers grew its stake in Rowan Companies PLC by 26.7% in the 2nd quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock valued at $2,922,000 after buying an additional 60,193 shares during the last quarter. Cipher Capital LP grew its stake in Rowan Companies PLC by 354.2% in the 2nd quarter. Cipher Capital LP now owns 135,249 shares of the oil and gas company’s stock valued at $1,385,000 after buying an additional 105,474 shares during the last quarter. UBS Asset Management Americas Inc. grew its stake in Rowan Companies PLC by 150.4% in the 1st quarter. UBS Asset Management Americas Inc. now owns 201,515 shares of the oil and gas company’s stock valued at $3,140,000 after buying an additional 121,050 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in Rowan Companies PLC by 3.4% in the 1st quarter. Principal Financial Group Inc. now owns 518,215 shares of the oil and gas company’s stock valued at $8,074,000 after buying an additional 17,065 shares during the last quarter.

Shares of Rowan Companies PLC (RDC) opened at 12.74 on Wednesday. The company’s market capitalization is $1.61 billion. Rowan Companies PLC has a 1-year low of $9.02 and a 1-year high of $21.68. The stock has a 50 day moving average price of $10.65 and a 200 day moving average price of $12.14.

Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating the Thomson Reuters’ 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 business had revenue of $320.20 million for the quarter, compared to the consensus estimate of $296.87 million. During the same period in the prior year, the company posted $0.75 earnings per share. Rowan Companies PLC’s revenue was down 47.7% compared to the same quarter last year. Analysts forecast that Rowan Companies PLC will post ($0.94) earnings per share for the current year.

A number of research firms have issued reports on RDC. Nomura decreased their price target on shares of Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Bank of America Corporation lowered Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research note on Friday, June 30th. Seaport Global Securities lowered Rowan Companies PLC from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $12.00 to $10.00 in a research note on Wednesday, June 21st. BidaskClub cut Rowan Companies PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Finally, BMO Capital Markets reissued a “hold” rating and set a $15.00 price objective on shares of Rowan Companies PLC in a research report on Thursday, June 22nd. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $16.41.

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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.

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

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