Rowan Companies PLC (RDC) Shares Bought by Energy Opportunities Capital Management LLC
Energy Opportunities Capital Management LLC raised its holdings in Rowan Companies PLC (NYSE:RDC) by 127.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 276,042 shares of the oil and gas company’s stock after acquiring an additional 154,815 shares during the period. Rowan Companies comprises about 2.7% of Energy Opportunities Capital Management LLC’s investment portfolio, making the stock its 16th largest holding. Energy Opportunities Capital Management LLC’s holdings in Rowan Companies were worth $4,477,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of RDC. Teza Capital Management LLC acquired a new position in Rowan Companies in the first quarter valued at about $140,000. Ahrens Investment Partners LLC acquired a new position in Rowan Companies in the first quarter valued at about $162,000. Oppenheimer & Co. Inc. acquired a new position in Rowan Companies in the second quarter valued at about $162,000. Verition Fund Management LLC acquired a new position in Rowan Companies in the first quarter valued at about $170,000. Finally, Matarin Capital Management LLC acquired a new position in Rowan Companies in the first quarter valued at about $185,000. 97.84% of the stock is owned by hedge funds and other institutional investors.
In related news, VP Richard Jason Anderson sold 6,000 shares of the stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.60% of the company’s stock.
Rowan Companies (NYSE:RDC) last posted its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.60) earnings per share for the quarter, topping the consensus estimate of ($0.93) by $0.33. The company had revenue of $241.30 million during the quarter, compared to analysts’ expectations of $207.71 million. Rowan Companies had a negative return on equity of 4.70% and a negative net margin of 9.41%. Rowan Companies’s revenue for the quarter was down 24.6% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.25) earnings per share. equities research analysts anticipate that Rowan Companies PLC will post -3.55 EPS for the current fiscal year.
A number of research analysts have issued reports on the company. ValuEngine raised Rowan Companies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, June 7th. Tudor Pickering raised Rowan Companies from a “hold” rating to a “buy” rating in a research note on Thursday, July 12th. BMO Capital Markets set a $15.00 target price on Rowan Companies and gave the company a “hold” rating in a research note on Wednesday, July 11th. B. Riley set a $20.00 price objective on Rowan Companies and gave the stock a “buy” rating in a research report on Friday, September 7th. Finally, Wells Fargo & Co raised Rowan Companies from a “market perform” rating to an “outperform” rating in a research report on Thursday, May 24th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. Rowan Companies presently has an average rating of “Hold” and an average target price of $15.25.
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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