Acadian Asset Management LLC cut its position in shares of Rowan Companies PLC (NYSE:RDC) by 92.5% during the second quarter, Holdings Channel reports. The fund owned 174,507 shares of the oil and gas company’s stock after selling 2,142,314 shares during the period. Acadian Asset Management LLC’s holdings in Rowan Companies PLC were worth $1,787,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. Great West Life Assurance Co. Can boosted its stake in shares of Rowan Companies PLC by 6.9% in the first quarter. Great West Life Assurance Co. Can now owns 109,692 shares of the oil and gas company’s stock worth $1,707,000 after buying an additional 7,068 shares during the last quarter. Wright Investors Service Inc. boosted its stake in shares of Rowan Companies PLC by 31.8% in the first quarter. Wright Investors Service Inc. now owns 31,095 shares of the oil and gas company’s stock worth $484,000 after buying an additional 7,495 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock worth $685,000 after buying an additional 600 shares during the last quarter. Breton Hill Capital Ltd. boosted its stake in shares of Rowan Companies PLC by 229.5% in the first quarter. Breton Hill Capital Ltd. now owns 51,530 shares of the oil and gas company’s stock worth $803,000 after buying an additional 91,332 shares during the last quarter. Finally, Livingston Group Asset Management CO operating as Southport Capital Management boosted its stake in shares of Rowan Companies PLC by 0.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,500 shares of the oil and gas company’s stock worth $226,000 after buying an additional 100 shares during the last quarter.

Shares of Rowan Companies PLC (NYSE RDC) traded down 1.73% during trading on Tuesday, hitting $10.78. 1,038,335 shares of the stock were exchanged. The firm’s market capitalization is $1.36 billion. Rowan Companies PLC has a 52 week low of $9.74 and a 52 week high of $21.68. The stock’s 50 day moving average price is $11.13 and its 200 day moving average price is $14.40.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating the Zacks’ 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 analysts’ expectations of $296.87 million. During the same quarter in the prior year, the company earned $0.75 EPS. The firm’s revenue was down 47.7% on a year-over-year basis. On average, equities analysts predict that Rowan Companies PLC will post ($0.90) earnings per share for the current year.

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Several research firms have weighed in on RDC. Jefferies Group LLC reissued a “hold” rating and issued a $17.00 price target (down from $20.00) on shares of Rowan Companies PLC in a report on Tuesday, April 11th. Credit Suisse Group reissued a “hold” rating and issued a $21.00 price target on shares of Rowan Companies PLC in a report on Friday, April 21st. BMO Capital Markets set a $15.00 price target on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, April 18th. Barclays PLC lowered their price target on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, May 1st. Finally, Fearnley Fonds raised shares of Rowan Companies PLC to a “buy” rating in a report on Friday, April 28th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Rowan Companies PLC presently has a consensus rating of “Hold” and an average target price of $16.37.

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

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