Noteworthy Price Action: Time to Buy Rowan Companies PLC After Today’s Significant Increase?

Noteworthy Price Action: Time to Buy Rowan Companies PLC After Today's Significant Increase?

The stock of Rowan Companies PLC (NYSE:RDC) is a huge mover today! About 1.89 million shares traded hands. Rowan Companies PLC (NYSE:RDC) has declined 2.82% since March 2, 2016 and is downtrending. It has underperformed by 11.07% the S&P500.
The move comes after 6 months positive chart setup for the $1.87B company. It was reported on Oct, 5 by We have $25.60 PT which if reached, will make NYSE:RDC worth $1.29B more.

Analysts await Rowan Companies PLC (NYSE:RDC) to report earnings on November, 1.

Rowan Companies PLC (NYSE:RDC) Ratings Coverage

Out of 20 analysts covering Rowan Companies Inc. (NYSE:RDC), 6 rate it a “Buy”, 4 “Sell”, while 10 “Hold”. This means 30% are positive. Rowan Companies Inc. has been the topic of 50 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The firm earned “Neutral” rating on Tuesday, October 20 by Citigroup. On Wednesday, September 28 the stock rating was maintained by Jefferies with “Buy”. The firm earned “Buy” rating on Monday, November 30 by Guggenheim. UBS maintained the shares of RDC in a report on Tuesday, August 11 with “Neutral” rating. On Monday, October 3 the stock rating was downgraded by Societe Generale to “Sell”. The firm has “Buy” rating given on Thursday, November 19 by Jefferies. RBC Capital Markets maintained Rowan Companies PLC (NYSE:RDC) on Wednesday, November 4 with “Sector Perform” rating. The rating was upgraded by Morgan Stanley on Thursday, January 28 to “Equal-Weight”. The firm has “Equalweight” rating given on Monday, March 28 by Barclays Capital. As per Wednesday, September 14, the company rating was initiated by Howard Weil.

According to Zacks Investment Research, “Rowan Companies plc provides international and domestic offshore contract drilling services. The Company’s primary focus is on high-specification and premium jack-up rigs, used for exploratory and development drilling. It conducts offshore drilling operations particularly in the North Sea, Middle East, Southeast Asia and U.S. Gulf of Mexico. Rowan Companies plc, formerly known as Rowan Companies, Inc., is headquartered in Houston, Texas.”

Insitutional Activity: The institutional sentiment decreased to 1.25 in 2016 Q2. Its down 0.07, from 1.32 in 2016Q1. The ratio dropped, as 39 funds sold all Rowan Companies PLC shares owned while 64 reduced positions. 30 funds bought stakes while 99 increased positions. They now own 136.86 million shares or 1.97% less from 139.60 million shares in 2016Q1.
Ubs Asset Management Americas owns 102,805 shares or 0% of their US portfolio. D E Shaw & Com has 0% invested in the company for 20,366 shares. Moreover, Cubic Asset Mngmt Limited Liability Co has 0.11% invested in Rowan Companies PLC (NYSE:RDC) for 18,775 shares. Checchi Capital Advisers Lc holds 0% or 718 shares in its portfolio. Kcg Inc has invested 0.02% of its portfolio in Rowan Companies PLC (NYSE:RDC). Svcs Automobile Association accumulated 30,150 shares or 0% of the stock. Point72 Asset Lp last reported 27,000 shares in the company. Liberty Mutual Gp Asset Management, a Massachusetts-based fund reported 54,159 shares. Public Employees Retirement Association Of Colorado accumulated 0% or 26,296 shares. New York State Teachers Retirement System holds 0.01% or 271,198 shares in its portfolio. The Ontario – Canada-based Commercial Bank Of Montreal Can has invested 0.02% in Rowan Companies PLC (NYSE:RDC). The Ontario – Canada-based Canada Pension Plan Inv Board has invested 0.03% in Rowan Companies PLC (NYSE:RDC). Vident Advisory Limited Liability holds 0.34% or 136,797 shares in its portfolio. Moreover, First Tru Advsr L P has 0.15% invested in Rowan Companies PLC (NYSE:RDC) for 2.62 million shares. Laurion Capital Ltd Partnership last reported 0.02% of its portfolio in the stock.

Another recent and important Rowan Companies PLC (NYSE:RDC) news was published by which published an article titled: “Rowan Companies – Strong Financials But Less Potential” on September 12, 2016.

RDC Company Profile

Rowan Companies plc, incorporated on October 11, 2011, is a well-known provider of offshore contract drilling services to the international gas and oil industry, with a focus on high-specification and premium jack-up rigs and ultra-deepwater drillships. The Firm operates through two divisions: deepwater and jack-ups. The Company’s deepwater segment consists of drillship operations. The Company’s fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships. The Company’s fleet operates across the world, including the United States Gulf of Mexico, the United Kingdom and Norwegian sectors of the North Sea, the Middle East and Trinidad.

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