Rowan Companies PLC (RDC) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. lessened its stake in shares of Rowan Companies PLC (NYSE:RDC) by 75.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 9,561 shares of the oil and gas company’s stock after selling 28,822 shares during the period. Meeder Asset Management Inc.’s holdings in Rowan Companies PLC were worth $123,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RDC. BlackRock Inc. raised its position in shares of Rowan Companies PLC by 4,558.9% during the 1st quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after purchasing an additional 10,752,038 shares during the last quarter. Northern Trust Corp raised its position in shares of Rowan Companies PLC by 145.7% during the 2nd quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after purchasing an additional 1,869,194 shares during the last quarter. Odey Asset Management Group Ltd acquired a new position in shares of Rowan Companies PLC during the 2nd quarter worth about $16,866,000. Key Group Holdings Cayman LTD. raised its position in shares of Rowan Companies PLC by 142.8% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock worth $28,501,000 after purchasing an additional 1,636,896 shares during the last quarter. Finally, State Street Corp raised its position in shares of Rowan Companies PLC by 24.1% during the 2nd quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock worth $52,005,000 after purchasing an additional 986,257 shares during the last quarter.

A number of research firms have commented on RDC. ValuEngine downgraded shares of Rowan Companies PLC from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. BMO Capital Markets set a $12.00 price objective on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Tuesday, October 17th. Cowen and Company set a $10.00 price objective on shares of Rowan Companies PLC and gave the company a “hold” rating in a report on Wednesday, October 18th. Zacks Investment Research downgraded shares of Rowan Companies PLC from a “buy” rating to a “hold” rating in a report on Friday. Finally, Nomura cut their price objective on shares of Rowan Companies PLC from $14.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, August 3rd. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the stock. Rowan Companies PLC presently has an average rating of “Hold” and a consensus price target of $16.04.

Rowan Companies PLC (RDC) opened at 13.73 on Monday. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $21.68. The stock’s market cap is $1.73 billion. The company’s 50 day moving average is $12.47 and its 200-day moving average is $11.96.

Rowan Companies PLC (NYSE:RDC) last issued its quarterly 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 analyst estimates of $296.87 million. During the same quarter in the prior year, the business posted $0.75 earnings per share. Rowan Companies PLC’s revenue for the quarter was down 47.7% compared to the same quarter last year. On average, equities analysts anticipate that Rowan Companies PLC will post ($0.91) earnings per share for the current year.

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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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