OxFORD Asset Management LLP Sells 123,927 Shares of Rowan Companies PLC (RDC)

OxFORD Asset Management LLP cut its holdings in shares of Rowan Companies PLC (NYSE:RDC) by 49.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,249 shares of the oil and gas company’s stock after selling 123,927 shares during the quarter. OxFORD Asset Management LLP owned about 0.10% of Rowan Companies worth $1,581,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RDC. Capstone Asset Management Co. boosted its position in Rowan Companies by 3.8% during the second quarter. Capstone Asset Management Co. now owns 21,078 shares of the oil and gas company’s stock worth $216,000 after acquiring an additional 780 shares during the last quarter. Strs Ohio purchased a new position in Rowan Companies during the second quarter worth about $181,000. Texas Permanent School Fund raised its stake in Rowan Companies by 1.3% during the second quarter. Texas Permanent School Fund now owns 92,066 shares of the oil and gas company’s stock worth $943,000 after purchasing an additional 1,206 shares during the period. Retirement Systems of Alabama raised its stake in Rowan Companies by 0.3% during the second quarter. Retirement Systems of Alabama now owns 162,562 shares of the oil and gas company’s stock worth $1,665,000 after purchasing an additional 546 shares during the period. Finally, Canada Pension Plan Investment Board raised its stake in Rowan Companies by 2.1% during the second quarter. Canada Pension Plan Investment Board now owns 305,862 shares of the oil and gas company’s stock worth $3,132,000 after purchasing an additional 6,300 shares during the period.

A number of brokerages have commented on RDC. ValuEngine raised shares of Rowan Companies from a “sell” rating to a “hold” rating in a research note on Friday, December 1st. UBS lifted their target price on shares of Rowan Companies from $15.00 to $18.00 and gave the stock a “buy” rating in a research note on Monday, November 6th. B. Riley reaffirmed a “buy” rating on shares of Rowan Companies in a research note on Wednesday, November 1st. Jefferies Group reaffirmed a “hold” rating and set a $15.00 target price on shares of Rowan Companies in a research note on Friday, November 3rd. Finally, Zacks Investment Research raised shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $16.52.

Shares of Rowan Companies PLC (NYSE RDC) opened at $13.37 on Friday. Rowan Companies PLC has a 52 week low of $9.02 and a 52 week high of $20.68. 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 (NYSE:RDC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.26. The business had revenue of $291.60 million for the quarter, compared to the consensus estimate of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. equities research analysts expect that Rowan Companies PLC will post -0.65 EPS for the current year.

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Rowan Companies Company Profile

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.

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

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