Canada Pension Plan Investment Board grew its holdings in shares of Rowan Companies PLC (NYSE:RDC) by 11.7% in the second quarter, Holdings Channel reports. The fund owned 459,462 shares of the oil and gas company’s stock after purchasing an additional 48,000 shares during the period. Canada Pension Plan Investment Board’s holdings in Rowan Companies were worth $7,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Rowan Companies by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 493,388 shares of the oil and gas company’s stock worth $5,694,000 after buying an additional 3,013 shares during the last quarter. Thrivent Financial for Lutherans lifted its position in Rowan Companies by 1.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 216,308 shares of the oil and gas company’s stock worth $2,496,000 after buying an additional 3,582 shares during the last quarter. Swiss National Bank lifted its position in Rowan Companies by 3.4% in the 1st quarter. Swiss National Bank now owns 208,900 shares of the oil and gas company’s stock worth $2,411,000 after buying an additional 6,900 shares during the last quarter. Northern Trust Corp lifted its position in Rowan Companies by 0.3% in the 1st quarter. Northern Trust Corp now owns 2,856,180 shares of the oil and gas company’s stock worth $32,961,000 after buying an additional 7,763 shares during the last quarter. Finally, Systematic Financial Management LP lifted its position in Rowan Companies by 6.0% in the 1st quarter. Systematic Financial Management LP now owns 151,040 shares of the oil and gas company’s stock worth $1,743,000 after buying an additional 8,580 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Shares of RDC stock opened at $13.94 on Friday. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 0.48. Rowan Companies PLC has a fifty-two week low of $9.36 and a fifty-two week high of $17.33. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of -21.78 and a beta of 1.79.

Rowan Companies (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.60) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.93) by $0.33. Rowan Companies had a negative return on equity of 4.70% and a negative net margin of 9.41%. The firm had revenue of $241.30 million during the quarter, compared to the consensus estimate of $207.71 million. During the same quarter in the previous year, the company posted ($0.25) earnings per share. The business’s revenue was down 24.6% on a year-over-year basis. equities analysts predict that Rowan Companies PLC will post -3.52 EPS for the current year.

In other Rowan Companies news, VP Richard Jason Anderson sold 6,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $14.67, for a total value of $88,020.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.60% of the company’s stock.

A number of analysts recently weighed in on the company. B. Riley set a $16.00 target price on Rowan Companies and gave the stock a “buy” rating in a research report on Thursday, June 7th. ValuEngine upgraded Rowan Companies from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 7th. Wells Fargo & Co upgraded Rowan Companies from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 24th. Tudor Pickering upgraded Rowan Companies from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Finally, BMO Capital Markets set a $15.00 target price on Rowan Companies and gave the stock a “hold” rating in a research report on Wednesday, July 11th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $15.05.

Rowan Companies Profile

Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.

Further Reading: Marijuana Stocks

Want to see what other hedge funds are holding RDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rowan Companies PLC (NYSE:RDC).

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

Receive News & Ratings for Rowan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies and related companies with MarketBeat.com's FREE daily email newsletter.