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.
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.
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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