Rowan Companies PLC (NYSE:RDC) Stake Lifted by CNH Partners LLC

CNH Partners LLC lifted its holdings in Rowan Companies PLC (NYSE:RDC) by 106.1% in the 1st quarter, Holdings Channel reports. The firm owned 2,399,190 shares of the oil and gas company’s stock after acquiring an additional 1,235,324 shares during the period. CNH Partners LLC’s holdings in Rowan Companies were worth $25,887,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. United Services Automobile Association raised its stake in shares of Rowan Companies by 9.0% in the fourth quarter. United Services Automobile Association now owns 29,311 shares of the oil and gas company’s stock worth $246,000 after purchasing an additional 2,427 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Rowan Companies by 9.7% in the fourth quarter. Geode Capital Management LLC now owns 1,335,243 shares of the oil and gas company’s stock worth $11,202,000 after purchasing an additional 117,747 shares during the last quarter. Oaktree Capital Management LP purchased a new position in shares of Rowan Companies in the fourth quarter worth $11,697,000. Rhumbline Advisers raised its stake in shares of Rowan Companies by 66.8% in the fourth quarter. Rhumbline Advisers now owns 386,710 shares of the oil and gas company’s stock worth $3,244,000 after purchasing an additional 154,844 shares during the last quarter. Finally, BlackRock Inc. raised its stake in shares of Rowan Companies by 2.2% in the fourth quarter. BlackRock Inc. now owns 14,951,891 shares of the oil and gas company’s stock worth $125,447,000 after purchasing an additional 319,357 shares during the last quarter. Hedge funds and other institutional investors own 99.06% of the company’s stock.

A number of analysts recently commented on RDC shares. Barclays set a $12.00 price objective on Rowan Companies and gave the company a “sell” rating in a research report on Tuesday, March 5th. HSBC upgraded Rowan Companies from a “hold” rating to a “buy” rating and set a $11.37 price objective for the company in a research report on Friday, March 8th. Zacks Investment Research upgraded Rowan Companies from a “sell” rating to a “hold” rating in a research report on Wednesday, March 13th. Credit Suisse Group set a $11.00 price objective on Rowan Companies and gave the company a “hold” rating in a research report on Friday, March 1st. Finally, ValuEngine cut Rowan Companies from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. Rowan Companies currently has an average rating of “Hold” and an average target price of $14.67.

Rowan Companies stock remained flat at $$10.93 during mid-day trading on Friday. The company has a market capitalization of $1.39 billion, a PE ratio of -2.94 and a beta of 2.52. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.46. Rowan Companies PLC has a twelve month low of $7.77 and a twelve month high of $20.87.

ILLEGAL ACTIVITY WARNING: “Rowan Companies PLC (NYSE:RDC) Stake Lifted by CNH Partners LLC” was first posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this piece on another website, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The correct version of this piece can be accessed at https://www.com-unik.info/2019/06/16/rowan-companies-plc-nyserdc-stake-lifted-by-cnh-partners-llc.html.

Rowan Companies Profile

Rowan Companies plc provides offshore contract drilling services to the oil and gas industry. The company operates through three segments: Deepwater, Jack-ups, and ARO. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 15 self-elevating jack-up rigs. The ARO segment operates a fleet of 6 self-elevating jack-up rigs.

See Also: Bid-Ask Spread

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 (NYSE:RDC)

Receive News & Ratings for Rowan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


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