The Rowan Companies PLC (RDC) Shares Sold by Los Angeles Capital Management & Equity Research Inc.

The Rowan Companies PLC (RDC) Shares Sold by Los Angeles Capital Management & Equity Research Inc.

Los Angeles Capital Management & Equity Research Inc. cut its position in shares of Rowan Companies PLC (NYSE:RDC) by 65.2% during the third quarter, Holdings Channel reports. The institutional investor owned 34,420 shares of the company’s stock after selling 64,358 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Rowan Companies PLC were worth $522,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. IBM Retirement Fund raised its position in shares of Rowan Companies PLC by 1.0% in the second quarter. IBM Retirement Fund now owns 12,690 shares of the company’s stock worth $224,000 after buying an additional 124 shares during the last quarter. LS Investment Advisors LLC raised its position in shares of Rowan Companies PLC by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock worth $134,000 after buying an additional 3,265 shares during the last quarter. Parkwood LLC purchased a new position in shares of Rowan Companies PLC during the second quarter worth $259,000. Bank of Montreal Can purchased a new position in shares of Rowan Companies PLC during the second quarter worth $15,682,000. Finally, Smith Asset Management Group LP purchased a new position in shares of Rowan Companies PLC during the second quarter worth $202,000.

Shares of Rowan Companies PLC (NYSE:RDC) traded down 1.08% during midday trading on Wednesday, reaching $19.16. The company’s stock had a trading volume of 2,303,935 shares. Rowan Companies PLC has a 1-year low of $10.67 and a 1-year high of $21.68. The company’s 50-day moving average price is $19.30 and its 200 day moving average price is $15.75. The firm has a market capitalization of $2.40 billion, a PE ratio of 5.16 and a beta of 1.73.

Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Tuesday, November 1st. The company reported $0.30 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.32. The business had revenue of $379.40 million for the quarter, compared to the consensus estimate of $362.38 million. Rowan Companies PLC had a return on equity of 7.52% and a net margin of 23.15%. The company’s revenue was down 30.4% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS. On average, equities research analysts forecast that Rowan Companies PLC will post $2.00 earnings per share for the current year.

A number of research analysts have weighed in on the company. BMO Capital Markets restated a “hold” rating and issued a $12.00 price objective on shares of Rowan Companies PLC in a report on Thursday, November 3rd. Royal Bank Of Canada lowered Rowan Companies PLC from a “sector perform” rating to an “underperform” rating and lifted their price target for the stock from $16.00 to $23.00 in a report on Friday, December 16th. RBC Capital Markets lowered Rowan Companies PLC from a “sector perform” rating to an “underperform” rating and lifted their price target for the stock from $16.00 to $23.00 in a report on Friday, December 16th. Evercore ISI reiterated a “buy” rating on shares of Rowan Companies PLC in a report on Thursday, September 22nd. Finally, Societe Generale lowered Rowan Companies PLC from a “hold” rating to a “sell” rating and reduced their price target for the stock from $16.00 to $11.00 in a report on Monday, October 3rd. Four equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $17.20.

About Rowan Companies PLC

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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