Oregon Public Employees Retirement Fund Raises Stake in Rowan Companies PLC (NYSE:RDC)

Oregon Public Employees Retirement Fund raised its position in Rowan Companies PLC (NYSE:RDC) by 4.6% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,948 shares of the oil and gas company’s stock after buying an additional 2,000 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Rowan Companies PLC were worth $471,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Neuberger Berman Group LLC increased its position in Rowan Companies PLC by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock worth $159,000 after buying an additional 55 shares in the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management increased its position in 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 in the last quarter. State Treasurer State of Michigan increased its position in Rowan Companies PLC by 1.0% in the first quarter. State Treasurer State of Michigan now owns 51,000 shares of the oil and gas company’s stock worth $795,000 after buying an additional 500 shares in the last quarter. Amalgamated Bank increased its position in Rowan Companies PLC by 3.1% in the first quarter. Amalgamated Bank now owns 19,915 shares of the oil and gas company’s stock worth $310,000 after buying an additional 590 shares in the last quarter. Finally, Suntrust Banks Inc. increased its position in Rowan Companies PLC by 3.3% in the first quarter. Suntrust Banks Inc. now owns 18,968 shares of the oil and gas company’s stock worth $295,000 after buying an additional 604 shares in the last quarter.

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

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

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A number of equities analysts have commented on the stock. Jefferies Group LLC set a $15.00 price objective on shares of Rowan Companies PLC and gave the stock a “hold” rating in a report on Tuesday, June 6th. Barclays PLC reiterated a “hold” rating and issued a $14.00 target price on shares of Rowan Companies PLC in a research note on Friday, August 4th. BMO Capital Markets reiterated a “hold” rating and issued a $15.00 target price on shares of Rowan Companies PLC in a research note on Thursday, June 22nd. Seaport Global Securities cut Rowan Companies PLC from a “neutral” rating to a “sell” rating and cut their target price for the company from $12.00 to $10.00 in a research note on Wednesday, June 21st. Finally, Nomura cut their target price on Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. Rowan Companies PLC has an average rating of “Hold” and an average 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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