Rowan Companies PLC (RDC) Shares Sold by Dupont Capital Management Corp

Dupont Capital Management Corp reduced its holdings in shares of Rowan Companies PLC (NYSE:RDC) by 57.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,485 shares of the oil and gas company’s stock after selling 12,757 shares during the quarter. Dupont Capital Management Corp’s holdings in Rowan Companies were worth $102,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in RDC. Norges Bank purchased a new position in shares of Rowan Companies during the 4th quarter valued at approximately $18,272,000. Oaktree Capital Management LP purchased a new position in shares of Rowan Companies during the 4th quarter valued at approximately $11,697,000. Van ECK Associates Corp boosted its stake in shares of Rowan Companies by 67.9% during the 4th quarter. Van ECK Associates Corp now owns 2,510,531 shares of the oil and gas company’s stock valued at $21,063,000 after buying an additional 1,015,561 shares during the last quarter. Centerbridge Partners L.P. boosted its stake in shares of Rowan Companies by 22.8% during the 4th quarter. Centerbridge Partners L.P. now owns 5,110,000 shares of the oil and gas company’s stock valued at $42,873,000 after buying an additional 950,000 shares during the last quarter. Finally, Odey Asset Management Group Ltd boosted its stake in shares of Rowan Companies by 7.6% during the 4th quarter. Odey Asset Management Group Ltd now owns 12,003,808 shares of the oil and gas company’s stock valued at $100,712,000 after buying an additional 849,406 shares during the last quarter. Institutional investors own 99.06% of the company’s stock.

RDC stock opened at $10.93 on Thursday. The company has a current ratio of 2.87, a quick ratio of 2.87 and a debt-to-equity ratio of 0.46. The company has a market cap of $1.39 billion, a P/E ratio of -2.94 and a beta of 2.52. Rowan Companies PLC has a 12-month low of $7.77 and a 12-month high of $20.87.

Rowan Companies (NYSE:RDC) last posted its quarterly earnings results on Wednesday, February 27th. The oil and gas company reported ($1.11) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.07) by ($0.04). The firm had revenue of $179.40 million for the quarter, compared to analyst estimates of $166.30 million. Rowan Companies had a negative net margin of 42.12% and a negative return on equity of 9.19%. The business’s revenue was down 39.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.31) earnings per share. Sell-side analysts expect that Rowan Companies PLC will post -3.61 earnings per share for the current year.

Several equities research analysts recently issued reports on RDC shares. ValuEngine raised Rowan Companies from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. HSBC raised Rowan Companies from a “hold” rating to a “buy” rating and set a $11.37 price target on the stock in a research report on Friday, March 8th. Zacks Investment Research raised Rowan Companies from a “sell” rating to a “hold” rating in a research report on Thursday, February 21st. Finally, Credit Suisse Group set a $11.00 price target on Rowan Companies and gave the company a “hold” rating in a research report on Friday, March 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $14.67.

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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.

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

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