Dupont Capital Management Corp cut its holdings in Rowan Companies PLC (NYSE:RDC) by 13.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 403,888 shares of the oil and gas company’s stock after selling 61,100 shares during the quarter. Dupont Capital Management Corp’s holdings in Rowan Companies were worth $6,325,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in RDC. BlackRock Inc. increased its stake in shares of Rowan Companies by 30.3% in the second quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock valued at $146,590,000 after buying an additional 3,327,747 shares in the last quarter. Northern Trust Corp increased its stake in shares of Rowan Companies by 145.7% in the second quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock valued at $32,274,000 after buying an additional 1,869,194 shares in the last quarter. State Street Corp increased its stake in shares of Rowan Companies by 24.1% in the second quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock valued at $52,005,000 after buying an additional 986,257 shares in the last quarter. FMR LLC increased its stake in shares of Rowan Companies by 140.0% in the second quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock valued at $16,800,000 after buying an additional 957,047 shares in the last quarter. Finally, Contrarius Investment Management Ltd acquired a new stake in shares of Rowan Companies in the third quarter valued at $12,259,000.

Rowan Companies PLC (RDC) opened at $15.11 on Friday. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies PLC has a fifty-two week low of $9.02 and a fifty-two week high of $19.01. The company has a market capitalization of $1,910.00, a price-to-earnings ratio of -29.63 and a beta of 1.89.

Rowan Companies (NYSE:RDC) last posted its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.26. Rowan Companies had a negative return on equity of 0.61% and a negative net margin of 4.76%. The company had revenue of $291.60 million during the quarter, compared to analysts’ expectations of $281.51 million. During the same quarter in the previous year, the firm earned $0.30 EPS. Rowan Companies’s revenue was down 23.1% on a year-over-year basis. research analysts expect that Rowan Companies PLC will post -0.62 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the company. B. Riley set a $16.00 target price on Rowan Companies and gave the company a “buy” rating in a research note on Friday, January 5th. Cowen set a $14.00 price target on Rowan Companies and gave the company a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $15.00 price target on Rowan Companies and gave the company a “hold” rating in a report on Friday, January 12th. Jefferies Group set a $16.00 price target on Rowan Companies and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, Piper Jaffray Companies cut Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Thursday, January 11th. Four analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $16.32.

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About Rowan Companies

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

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