Rowan Companies PLC (RDC) Holdings Cut by Gamco Investors INC. ET AL
Gamco Investors INC. ET AL reduced its position in shares of Rowan Companies PLC (NYSE:RDC) by 4.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,100 shares of the oil and gas company’s stock after selling 12,346 shares during the quarter. Gamco Investors INC. ET AL owned 0.19% of Rowan Companies PLC worth $3,072,000 at the end of the most recent quarter.
Other large investors have also recently made changes to their positions in the company. LS Investment Advisors LLC raised its stake in Rowan Companies PLC by 24.8% during the 2nd quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 2,050 shares during the period. Wedbush Securities Inc. acquired a new stake in Rowan Companies PLC during the 3rd quarter valued at $135,000. Sciencast Management LP raised its stake in Rowan Companies PLC by 10.0% during the 2nd quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 1,190 shares during the period. Pacad Investment Ltd. acquired a new stake in Rowan Companies PLC during the 2nd quarter valued at $138,000. Finally, Prescott Group Capital Management L.L.C. acquired a new stake in Rowan Companies PLC during the 2nd quarter valued at $143,000.
Several research firms have recently commented on RDC. Zacks Investment Research upgraded shares of Rowan Companies PLC from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Tuesday, October 17th. UBS AG upgraded shares of Rowan Companies PLC from a “neutral” rating to a “buy” rating and boosted their price target for the company from $11.00 to $15.00 in a report on Monday, September 25th. BidaskClub upgraded shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. FBR & Co restated a “buy” rating on shares of Rowan Companies PLC in a report on Thursday, October 19th. Finally, B. Riley restated a “buy” rating on shares of Rowan Companies PLC in a report on Wednesday, November 1st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $16.52.
Rowan Companies PLC (NYSE RDC) opened at $15.25 on Monday. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $21.68.
Rowan Companies PLC (NYSE:RDC) last released its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.26. The firm had revenue of $291.60 million during the quarter, compared to analyst estimates of $281.51 million. Rowan Companies PLC had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business’s revenue was down 23.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 EPS. equities analysts forecast that Rowan Companies PLC will post -0.8 earnings per share for the current fiscal year.
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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