Rowan Companies PLC (RDC) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its position in Rowan Companies PLC (NYSE:RDC) by 129.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 197,144 shares of the oil and gas company’s stock after buying an additional 875,233 shares during the period. Bank of America Corp DE owned about 0.16% of Rowan Companies PLC worth $3,071,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of Rowan Companies PLC by 4,558.9% in the first quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after buying an additional 10,752,038 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rowan Companies PLC by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,615,408 shares of the oil and gas company’s stock worth $165,387,000 after buying an additional 477,442 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Rowan Companies PLC by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 2,330,321 shares of the oil and gas company’s stock worth $36,306,000 after buying an additional 111,480 shares in the last quarter. Thrivent Financial For Lutherans raised its stake in shares of Rowan Companies PLC by 30.2% in the first quarter. Thrivent Financial For Lutherans now owns 2,014,830 shares of the oil and gas company’s stock worth $31,391,000 after buying an additional 467,760 shares during the period. Finally, Schroder Investment Management Group raised its stake in shares of Rowan Companies PLC by 2.4% in the first quarter. Schroder Investment Management Group now owns 1,953,297 shares of the oil and gas company’s stock worth $30,120,000 after buying an additional 44,863 shares during the period.

Rowan Companies PLC (NYSE RDC) opened at 9.33 on Friday. The company has a 50-day moving average price of $10.74 and a 200-day moving average price of $13.67. Rowan Companies PLC has a 12-month low of $9.05 and a 12-month high of $21.68. The firm’s market cap is $1.18 billion.

Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, topping the 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 firm 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 firm earned $0.75 EPS. Rowan Companies PLC’s quarterly revenue was down 47.7% on a year-over-year basis. On average, equities analysts predict that Rowan Companies PLC will post ($0.95) earnings per share for the current year.

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A number of equities research analysts have weighed in on RDC shares. ValuEngine raised Rowan Companies PLC from a “hold” rating to a “buy” rating in a research report on Saturday, May 27th. Clarkson Capital raised Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Tuesday, May 30th. Royal Bank Of Canada reiterated a “sell” rating and issued a $13.50 price target on shares of Rowan Companies PLC in a report on Thursday, July 20th. Fearnley Fonds upgraded Rowan Companies PLC to a “buy” rating in a report on Friday, April 28th. Finally, Deutsche Bank AG cut their price target on Rowan Companies PLC from $17.00 to $16.00 and set a “hold” rating on the stock in a report on Wednesday, May 3rd. Four equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $16.37.

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.

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

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