The Manufacturers Life Insurance Company Has $2.81 Million Holdings in Rowan Companies PLC (RDC)

The Manufacturers Life Insurance Company raised its position in shares of Rowan Companies PLC (NYSE:RDC) by 50.2% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 274,050 shares of the oil and gas company’s stock after purchasing an additional 91,648 shares during the period. The Manufacturers Life Insurance Company owned 0.22% of Rowan Companies PLC worth $2,806,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. LS Investment Advisors LLC boosted its stake in Rowan Companies PLC by 24.8% during the 2nd quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after purchasing an additional 2,050 shares during the period. Sciencast Management LP boosted its stake in Rowan Companies PLC by 10.0% during the 2nd quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 1,190 shares during the period. Pacad Investment Ltd. acquired a new position in Rowan Companies PLC during the 2nd quarter valued at about $138,000. Prescott Group Capital Management L.L.C. acquired a new position in Rowan Companies PLC during the 2nd quarter valued at about $143,000. Finally, Capital Fund Management S.A. acquired a new position in Rowan Companies PLC during the 2nd quarter valued at about $161,000.

A number of research analysts have issued reports on RDC shares. Jefferies Group LLC reissued a “hold” rating and set a $12.00 target price (down from $15.00) on shares of Rowan Companies PLC in a research note on Tuesday, July 18th. BMO Capital Markets set a $12.00 target price on shares of Rowan Companies PLC and gave the company a “hold” rating in a research note on Tuesday, October 17th. ValuEngine raised shares of Rowan Companies PLC from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Seaport Global Securities raised shares of Rowan Companies PLC from a “sell” rating to a “neutral” rating and boosted their target price for the company from $10.00 to $11.00 in a research note on Thursday, July 20th. Finally, Royal Bank Of Canada set a $14.00 price target on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research note on Sunday, October 8th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company’s stock. Rowan Companies PLC presently has a consensus rating of “Hold” and a consensus target price of $16.34.

Shares of Rowan Companies PLC (NYSE:RDC) opened at $14.08 on Friday. Rowan Companies PLC has a one year low of $9.02 and a one year high of $21.68. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.00.

Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.26. Rowan Companies PLC had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business had revenue of $291.60 million for the quarter, compared to analyst estimates of $281.51 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s revenue was down 23.1% compared to the same quarter last year. equities research analysts forecast that Rowan Companies PLC will post -0.82 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: “The Manufacturers Life Insurance Company Has $2.81 Million Holdings in Rowan Companies PLC (RDC)” was originally posted by Community Financial News and is owned by of Community Financial News. If you are accessing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark and copyright law. The legal version of this piece of content can be accessed at https://www.com-unik.info/2017/11/04/the-manufacturers-life-insurance-company-has-2-81-million-holdings-in-rowan-companies-plc-rdc.html.

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.

Want to see what other hedge funds are holding RDC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rowan Companies PLC (NYSE:RDC).

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

What are top analysts saying about Rowan Companies PLC? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Rowan Companies PLC and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit