Blenheim Capital Management BV bought a new stake in shares of Rowan Companies PLC (NYSE:RDC) during the fourth quarter, Holdings Channel reports. The institutional investor bought 55,423 shares of the company’s stock, valued at approximately $1,047,000. Rowan Companies PLC accounts for about 1.8% of Blenheim Capital Management BV’s investment portfolio, making the stock its 13th largest position.

A number of other hedge funds have also modified their holdings of RDC. Russell Investments Group Ltd. acquired a new stake in shares of Rowan Companies PLC during the fourth quarter valued at about $25,355,000. Acadian Asset Management LLC boosted its position in Rowan Companies PLC by 36.2% in the third quarter. Acadian Asset Management LLC now owns 4,373,374 shares of the company’s stock valued at $66,300,000 after buying an additional 1,161,516 shares in the last quarter. HBK Investments L P purchased a new position in Rowan Companies PLC during the third quarter valued at $17,191,000. Marshall Wace LLP boosted its position in Rowan Companies PLC by 113.3% in the fourth quarter. Marshall Wace LLP now owns 1,952,688 shares of the company’s stock valued at $36,886,000 after buying an additional 1,037,096 shares in the last quarter. Finally, First Quadrant L P CA boosted its position in Rowan Companies PLC by 2,351.0% in the third quarter. First Quadrant L P CA now owns 781,122 shares of the company’s stock valued at $11,842,000 after buying an additional 749,252 shares in the last quarter.

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

Rowan Companies PLC (NYSE:RDC) traded down 2.46% during trading on Thursday, reaching $17.86. The company had a trading volume of 2,266,144 shares. The company’s 50-day moving average is $18.90 and its 200 day moving average is $16.04. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 4.81 and a beta of 1.68. Rowan Companies PLC has a 52 week low of $11.12 and a 52 week high of $21.68.

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Several research firms have weighed in on RDC. BMO Capital Markets restated a “hold” rating and set a $15.00 price target on shares of Rowan Companies PLC in a report on Thursday, January 12th. RBC Capital Markets cut Rowan Companies PLC from a “sector perform” rating to an “underperform” rating and raised their price target for the company from $16.00 to $23.00 in a report on Friday, December 16th. Royal Bank Of Canada cut Rowan Companies PLC from a “sector perform” rating to an “underperform” rating and raised their price target for the company from $16.00 to $23.00 in a report on Friday, December 16th. Zephirin Group restated a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Rowan Companies PLC in a report on Tuesday, December 27th. Finally, Jefferies Group LLC cut Rowan Companies PLC from a “buy” rating to a “hold” rating and set a $20.00 price target for the company. in a report on Monday, January 30th. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $18.26.

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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.

5 Day Chart for NYSE:RDC

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