Pacad Investment Ltd. bought a new position in shares of Rowan Companies PLC (NYSE:RDC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 13,500 shares of the oil and gas company’s stock, valued at approximately $138,000.

Several other large investors have also added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Rowan Companies PLC by 4.9% during the second quarter. Principal Financial Group Inc. now owns 543,789 shares of the oil and gas company’s stock worth $5,569,000 after purchasing an additional 25,574 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Rowan Companies PLC by 21.6% during the second 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 purchasing an additional 186,754 shares in the last quarter. Virginia Retirement Systems ET AL grew its position in shares of Rowan Companies PLC by 1.7% during the second quarter. Virginia Retirement Systems ET AL now owns 23,432 shares of the oil and gas company’s stock worth $240,000 after purchasing an additional 400 shares in the last quarter. BNP Paribas Arbitrage SA grew its position in shares of Rowan Companies PLC by 109.6% during the second quarter. BNP Paribas Arbitrage SA now owns 65,405 shares of the oil and gas company’s stock worth $670,000 after purchasing an additional 34,200 shares in the last quarter. Finally, Comerica Bank grew its position in shares of Rowan Companies PLC by 0.3% during the second quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock worth $1,182,000 after purchasing an additional 267 shares in the last quarter.

Several analysts recently issued reports on the company. Bank of America Corporation cut Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Nomura cut their target price on Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, August 3rd. ValuEngine cut Rowan Companies PLC from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Seaport Global Securities cut Rowan Companies PLC from a “neutral” rating to a “sell” rating and cut their target price for the stock from $12.00 to $10.00 in a research report on Wednesday, June 21st. Finally, BidaskClub cut Rowan Companies PLC from a “sell” rating to a “strong sell” rating in a research report on Friday, June 23rd. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $16.36.

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Shares of Rowan Companies PLC (RDC) opened at 11.24 on Friday. The company’s market capitalization is $1.42 billion. The stock has a 50 day moving average price of $10.24 and a 200 day moving average price of $12.58. Rowan Companies PLC has a 1-year low of $9.02 and a 1-year high of $21.68.

Rowan Companies PLC (NYSE:RDC) last posted its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The business’s revenue was down 47.7% compared to the same quarter last year. During the same period in the prior year, the business earned $0.75 earnings per share. On average, equities analysts anticipate that Rowan Companies PLC will post ($0.95) EPS 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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Institutional Ownership by Quarter for Rowan Companies PLC (NYSE:RDC)

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