Liberty Mutual Group Asset Management Inc. boosted its position in Rowan Companies PLC (NYSE:RDC) by 2.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,739 shares of the oil and gas company’s stock after buying an additional 1,450 shares during the period. Liberty Mutual Group Asset Management Inc.’s holdings in Rowan Companies PLC were worth $883,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC raised its stake in shares of 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. Renaissance Group LLC purchased a new stake in shares of Rowan Companies PLC during the first quarter worth about $163,000. Meeder Asset Management Inc. purchased a new stake in shares of Rowan Companies PLC during the first quarter worth about $189,000. Parkwood LLC purchased a new stake in shares of Rowan Companies PLC during the first quarter worth about $198,000. Finally, Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of 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.
Shares of Rowan Companies PLC (NYSE RDC) traded down 1.85% during mid-day trading on Friday, hitting $11.17. The stock had a trading volume of 3,158,176 shares. Rowan Companies PLC has a 52 week low of $9.74 and a 52 week high of $21.68. The stock has a market cap of $1.41 billion, a P/E ratio of 6.81 and a beta of 1.75. The stock has a 50-day moving average price of $11.24 and a 200 day moving average price of $14.91.
Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Tuesday, May 2nd. The oil and gas company reported $0.07 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.13 by $0.06. The business had revenue of $374.30 million during the quarter, compared to the consensus estimate of $358.01 million. Rowan Companies PLC had a net margin of 12.12% and a return on equity of 2.95%. The business’s revenue was down 25.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.98 EPS. On average, equities analysts forecast that Rowan Companies PLC will post ($1.01) EPS for the current fiscal year.
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A number of brokerages recently commented on RDC. Jefferies Group LLC reiterated a “hold” rating and set a $17.00 price objective (down previously from $20.00) on shares of Rowan Companies PLC in a research report on Tuesday, April 11th. Credit Suisse Group restated a “hold” rating and issued a $21.00 target price on shares of Rowan Companies PLC in a research report on Friday, April 21st. BMO Capital Markets set a $15.00 target price on Rowan Companies PLC and gave the company a “hold” rating in a research report on Tuesday, April 18th. Barclays PLC dropped their price objective on Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating for the company in a research note on Monday, May 1st. Finally, Fearnley Fonds raised Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th. Four investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $16.82.
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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