Rowan Companies PLC (NYSE:RDC) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP decreased its stake in shares of Rowan Companies PLC (NYSE:RDC) by 21.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,337,819 shares of the oil and gas company’s stock after selling 2,227,736 shares during the quarter. Dimensional Fund Advisors LP owned about 6.60% of Rowan Companies worth $107,140,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of RDC. Strs Ohio bought a new position in shares of Rowan Companies during the second quarter worth $181,000. Retirement Systems of Alabama boosted its position in shares of 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 acquiring an additional 546 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in shares of 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 acquiring an additional 6,300 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of Rowan Companies by 42.3% during the second quarter. Schwab Charles Investment Management Inc. now owns 2,027,910 shares of the oil and gas company’s stock worth $20,766,000 after acquiring an additional 602,479 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Rowan Companies by 1.9% during the second quarter. Arizona State Retirement System now owns 53,200 shares of the oil and gas company’s stock worth $545,000 after acquiring an additional 1,000 shares during the last quarter.

A number of brokerages recently weighed in on RDC. Piper Jaffray Companies lowered shares of Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a research report on Thursday. ValuEngine downgraded shares of Rowan Companies from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. BMO Capital Markets set a $12.00 price target on shares of Rowan Companies and gave the company a “hold” rating in a research note on Tuesday, October 17th. B. Riley set a $16.00 price target on shares of Rowan Companies and gave the company a “buy” rating in a research note on Friday, January 5th. Finally, Jefferies Group set a $16.00 price target on shares of Rowan Companies and gave the company a “hold” rating in a research note on Thursday, January 4th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have given a buy rating to the stock. Rowan Companies currently has an average rating of “Hold” and a consensus target price of $16.40.

Shares of Rowan Companies PLC (RDC) traded up $0.63 on Thursday, hitting $17.10. 4,135,400 shares of the stock traded hands, compared to its average volume of 2,560,000. Rowan Companies PLC has a 1-year low of $9.02 and a 1-year high of $20.50. The stock has a market capitalization of $2,160.00, a P/E ratio of -33.53 and a beta of 1.89. 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 announced its earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.26. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business had revenue of $291.60 million for the quarter, compared to the consensus estimate of $281.51 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. The business’s revenue for the quarter was down 23.1% on a year-over-year basis. sell-side analysts forecast that Rowan Companies PLC will post -0.61 EPS for the current year.

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Rowan Companies 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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