Rowan Companies PLC (RDC) Shares Sold by Energy Opportunities Capital Management LLC

Energy Opportunities Capital Management LLC lowered its position in Rowan Companies PLC (NYSE:RDC) by 8.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 143,502 shares of the oil and gas company’s stock after selling 13,455 shares during the quarter. Rowan Companies comprises approximately 1.2% of Energy Opportunities Capital Management LLC’s portfolio, making the stock its 28th largest holding. Energy Opportunities Capital Management LLC owned approximately 0.11% of Rowan Companies worth $1,844,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP grew its position in Rowan Companies by 53.6% in the third quarter. GSA Capital Partners LLP now owns 30,484 shares of the oil and gas company’s stock worth $392,000 after acquiring an additional 10,635 shares in the last quarter. California Public Employees Retirement System grew its position in Rowan Companies by 98.6% in the third quarter. California Public Employees Retirement System now owns 691,616 shares of the oil and gas company’s stock worth $8,887,000 after acquiring an additional 343,316 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in Rowan Companies by 297.3% in the third quarter. Cubist Systematic Strategies LLC now owns 170,525 shares of the oil and gas company’s stock worth $2,191,000 after acquiring an additional 127,599 shares in the last quarter. Wells Fargo & Company MN grew its position in Rowan Companies by 160.5% in the third quarter. Wells Fargo & Company MN now owns 672,795 shares of the oil and gas company’s stock worth $8,646,000 after acquiring an additional 414,545 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in Rowan Companies in the third quarter worth $1,448,000.

Rowan Companies PLC (RDC) traded down $0.53 during trading on Friday, hitting $13.55. 1,672,900 shares of the stock were exchanged, compared to its average volume of 3,372,223. 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 one year low of $9.02 and a one year high of $20.68.

Rowan Companies (NYSE:RDC) last posted 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 company had revenue of $291.60 million during the quarter, compared to analyst estimates of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. Rowan Companies’s revenue for the quarter was down 23.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.30 earnings per share. sell-side analysts predict that Rowan Companies PLC will post -0.65 earnings per share for the current year.

Several research analysts recently issued reports on RDC shares. Zacks Investment Research upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, October 17th. BidaskClub upgraded shares of Rowan Companies from a “strong sell” rating to a “sell” rating in a research report on Saturday, August 26th. UBS upgraded shares of Rowan Companies from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $15.00 in a research report on Monday, September 25th. B. Riley reiterated a “buy” rating on shares of Rowan Companies in a research report on Wednesday, November 1st. Finally, FBR & Co reiterated a “buy” rating on shares of Rowan Companies in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. Rowan Companies presently has an average rating of “Hold” and an average target price of $16.52.

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Rowan Companies 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 (NYSE:RDC)

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