Deutsche Bank AG Raises Stake in Rowan Companies PLC (RDC)

Deutsche Bank AG lifted its stake in shares of Rowan Companies PLC (NYSE:RDC) by 49.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 924,942 shares of the oil and gas company’s stock after acquiring an additional 304,954 shares during the period. Deutsche Bank AG owned approximately 0.73% of Rowan Companies worth $7,758,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RDC. Norges Bank bought a new stake in shares of Rowan Companies during the fourth quarter worth $18,272,000. Oaktree Capital Management LP bought a new position in Rowan Companies in the fourth quarter valued at $11,697,000. Van ECK Associates Corp grew its position in Rowan Companies by 67.9% in the fourth quarter. Van ECK Associates Corp now owns 2,510,531 shares of the oil and gas company’s stock valued at $21,063,000 after purchasing an additional 1,015,561 shares in the last quarter. Centerbridge Partners L.P. grew its position in Rowan Companies by 22.8% in the fourth quarter. Centerbridge Partners L.P. now owns 5,110,000 shares of the oil and gas company’s stock valued at $42,873,000 after purchasing an additional 950,000 shares in the last quarter. Finally, Odey Asset Management Group Ltd grew its position in Rowan Companies by 7.6% in the fourth quarter. Odey Asset Management Group Ltd now owns 12,003,808 shares of the oil and gas company’s stock valued at $100,712,000 after purchasing an additional 849,406 shares in the last quarter. 99.06% of the stock is owned by institutional investors.

A number of research firms recently weighed in on RDC. ValuEngine raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Friday, January 25th. Zacks Investment Research downgraded shares of Rowan Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, January 15th. HSBC raised shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $11.37 target price for the company in a research report on Friday, March 8th. Barclays set a $13.00 target price on shares of Rowan Companies and gave the company a “sell” rating in a research report on Wednesday, February 20th. Finally, DNB Markets raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eight have given a buy rating to the company. Rowan Companies presently has a consensus rating of “Hold” and a consensus price target of $14.67.

Shares of RDC opened at $10.93 on Friday. Rowan Companies PLC has a one year low of $7.77 and a one year high of $20.87. The stock has a market capitalization of $1.39 billion, a PE ratio of -2.94 and a beta of 2.52. The company has a quick ratio of 2.87, a current ratio of 2.87 and a debt-to-equity ratio of 0.46.

Rowan Companies (NYSE:RDC) last announced its quarterly earnings data 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). Rowan Companies had a negative net margin of 42.12% and a negative return on equity of 9.19%. The firm had revenue of $179.40 million during the quarter, compared to the consensus estimate of $166.30 million. During the same period last year, the business earned ($0.31) EPS. The business’s revenue was down 39.5% on a year-over-year basis. On average, research analysts forecast that Rowan Companies PLC will post -3.61 earnings per share for the current fiscal year.

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Rowan Companies Company Profile

Rowan Companies plc provides offshore contract drilling services to the oil and gas industry. The company operates through three segments: Deepwater, Jack-ups, and ARO. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 15 self-elevating jack-up rigs. The ARO segment operates a fleet of 6 self-elevating jack-up rigs.

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

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