Allianz Asset Management AG cut its position in shares of Rowan Companies PLC (NYSE:RDC) by 81.4% during the fourth quarter, Holdings Channel reports. The firm owned 52,416 shares of the company’s stock after selling 229,833 shares during the period. Allianz Asset Management AG’s holdings in Rowan Companies PLC were worth $991,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. LS Investment Advisors LLC raised its stake in Rowan Companies PLC by 5.7% in the third quarter. LS Investment Advisors LLC now owns 8,012 shares of the company’s stock worth $121,000 after buying an additional 430 shares during the period. Tower Research Capital LLC TRC raised its stake in Rowan Companies PLC by 33.5% in the third quarter. Tower Research Capital LLC TRC now owns 10,233 shares of the company’s stock worth $155,000 after buying an additional 2,567 shares during the period. Catalyst Capital Advisors LLC acquired a new stake in Rowan Companies PLC during the third quarter worth about $155,000. Oakbrook Investments LLC acquired a new stake in Rowan Companies PLC during the third quarter worth about $174,000. Finally, Fox Run Management L.L.C. acquired a new stake in Rowan Companies PLC during the third quarter worth about $183,000.
Rowan Companies PLC (NYSE:RDC) opened at 14.62 on Tuesday. The company has a market cap of $1.83 billion, a P/E ratio of 5.73 and a beta of 1.68. The company’s 50 day moving average price is $17.47 and its 200 day moving average price is $16.51. Rowan Companies PLC has a 52-week low of $12.00 and a 52-week high of $21.68.
Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings results on Friday, February 24th. The company reported $0.08 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.14. The firm had revenue of $351.80 million for the quarter, compared to the consensus estimate of $343.71 million. Rowan Companies PLC had a return on equity of 7.52% and a net margin of 23.15%. The business’s revenue was down 34.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Equities research analysts anticipate that Rowan Companies PLC will post ($0.99) EPS for the current fiscal year.
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A number of analysts have issued reports on the company. Royal Bank of Canada reaffirmed an “underperform” rating and issued a $20.00 target price (down previously from $23.00) on shares of Rowan Companies PLC in a report on Thursday, February 2nd. Jefferies Group LLC lowered Rowan Companies PLC from a “buy” rating to a “hold” rating and set a $20.00 target price on the stock. in a report on Monday, January 30th. Zacks Investment Research lowered Rowan Companies PLC from a “buy” rating to a “hold” rating in a report on Tuesday, January 3rd. Zephirin Group reaffirmed a “buy” rating and issued a $22.00 target price (up previously from $20.00) on shares of Rowan Companies PLC in a report on Tuesday, December 27th. Finally, Barclays PLC reaffirmed a “hold” rating and issued a $19.00 target price on shares of Rowan Companies PLC in a report on Tuesday, January 10th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.29.
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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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