TVR Capital Management LP lessened its holdings in Rowan Companies PLC (NYSE:RDC) by 75.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 100,000 shares of the oil and gas company’s stock after selling 309,878 shares during the period. Rowan Companies accounts for 1.5% of TVR Capital Management LP’s portfolio, making the stock its 12th largest position. TVR Capital Management LP’s holdings in Rowan Companies were worth $839,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in RDC. Russell Investments Group Ltd. boosted its position in shares of Rowan Companies by 833.4% in the third quarter. Russell Investments Group Ltd. now owns 52,178 shares of the oil and gas company’s stock valued at $983,000 after acquiring an additional 46,588 shares during the period. JPMorgan Chase & Co. lifted its position in Rowan Companies by 31.1% during the third quarter. JPMorgan Chase & Co. now owns 864,124 shares of the oil and gas company’s stock worth $16,271,000 after purchasing an additional 204,753 shares during the period. Prudential Financial Inc. lifted its position in Rowan Companies by 8.7% during the third quarter. Prudential Financial Inc. now owns 86,103 shares of the oil and gas company’s stock worth $1,621,000 after purchasing an additional 6,920 shares during the period. Rhumbline Advisers lifted its position in Rowan Companies by 4.6% during the third quarter. Rhumbline Advisers now owns 231,866 shares of the oil and gas company’s stock worth $4,366,000 after purchasing an additional 10,240 shares during the period. Finally, Commonwealth Bank of Australia bought a new stake in Rowan Companies during the third quarter worth about $713,000. 99.06% of the stock is owned by institutional investors.
RDC has been the subject of several recent analyst reports. ValuEngine raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. DNB Markets raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. UBS Group set a $13.00 price objective on shares of Rowan Companies and gave the stock a “buy” rating in a research report on Thursday, December 20th. HSBC raised shares of 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. Finally, TheStreet cut shares of Rowan Companies from a “c-” rating to a “d+” rating in a research report on Friday, November 30th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company’s stock. Rowan Companies presently has an average rating of “Hold” and a consensus price target of $14.49.
Shares of RDC stock traded down $0.34 on Monday, reaching $11.22. The company had a trading volume of 14,154 shares, compared to its average volume of 1,505,782. The stock has a market capitalization of $1.47 billion, a P/E ratio of -3.00 and a beta of 2.53. 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 one year low of $7.77 and a one year high of $20.87.
Rowan Companies (NYSE:RDC) last posted its earnings results on Wednesday, February 27th. The oil and gas company reported ($1.11) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.04). The company had revenue of $179.40 million during the quarter, compared to the consensus estimate of $166.30 million. Rowan Companies had a negative return on equity of 9.19% and a negative net margin of 42.12%. The firm’s revenue was down 39.5% compared to the same quarter last year. During the same period last year, the company posted ($0.31) EPS. As a group, equities analysts predict that Rowan Companies PLC will post -3.61 EPS for the current fiscal year.
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Rowan Companies Profile
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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