Today’s Price Action: Rowan Companies PLC’s Trend Down, Especially After Today’s Weak Session

Today's Price Action: Rowan Companies PLC's Trend Down, Especially After Today's Weak Session

The stock of Rowan Companies PLC (NYSE:RDC) is a huge mover today! About 948,530 shares traded hands. Rowan Companies PLC (NYSE:RDC) has declined 10.52% since March 11, 2016 and is downtrending. It has underperformed by 15.97% the S&P500.
The move comes after 6 months negative chart setup for the $1.83 billion company. It was reported on Oct, 14 by We have $13.39 PT which if reached, will make NYSE:RDC worth $146.40 million less.

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

Rowan Companies PLC (NYSE:RDC) Ratings Coverage

Out of 22 analysts covering Rowan Companies Inc. (NYSE:RDC), 6 rate it a “Buy”, 4 “Sell”, while 12 “Hold”. This means 27% are positive. Rowan Companies Inc. has been the topic of 52 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was initiated by Citigroup on Tuesday, October 20 with “Neutral”. Credit Suisse downgraded the shares of RDC in a report on Friday, September 23 to “Neutral” rating. The rating was downgraded by Fearnley on Wednesday, March 9 to “Reduce”. The rating was initiated by KLR with “Buy” on Monday, December 14. The stock has “Underperform” rating given by Credit Agricole on Tuesday, December 22. The stock of Rowan Companies PLC (NYSE:RDC) earned “Neutral” rating by Citigroup on Monday, May 16. The rating was maintained by Barclays Capital on Monday, March 28 with “Equalweight”. The stock of Rowan Companies PLC (NYSE:RDC) has “Neutral” rating given on Tuesday, August 11 by UBS. The firm earned “Sector Weight” rating on Friday, October 9 by KeyBanc Capital Markets. The rating was downgraded by Raymond James on Tuesday, July 26 to “Market Perform”.

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 Q2 2016. Its down 0.07, from 1.32 in 2016Q1. The ratio worsened, 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.
Brandywine Global Invest Mgmt Ltd Liability Company holds 346,670 shares or 0.04% of its portfolio. Smith Asset Mngmt Gru Limited Partnership, a Texas-based fund reported 11,419 shares. Legal & General Grp Inc Public Limited Liability accumulated 108,718 shares or 0% of the stock. The New York-based Bnp Paribas Arbitrage has invested 0.01% in Rowan Companies PLC (NYSE:RDC). Liberty Mutual Grp Asset Management Inc, a Massachusetts-based fund reported 54,159 shares. Northern Trust owns 1.23 million shares or 0.01% of their US portfolio. The Texas-based Wfg Advisors Lp has invested 0% in Rowan Companies PLC (NYSE:RDC). State Treasurer State Of Michigan has invested 0.01% of its portfolio in Rowan Companies PLC (NYSE:RDC). Bowling Port Mngmt Ltd Liability Corporation has invested 0.94% of its portfolio in Rowan Companies PLC (NYSE:RDC). Guggenheim Limited Liability owns 711,459 shares or 0.04% of their US portfolio. Teachers Retirement Systems Of The State Of Kentucky accumulated 0.01% or 27,700 shares. Ladenburg Thalmann Financial has 1,587 shares for 0% of their US portfolio. Utd Service Automobile Association last reported 0% of its portfolio in the stock. Moreover, Amalgamated National Bank & Trust has 0.01% invested in Rowan Companies PLC (NYSE:RDC) for 17,059 shares. Clinton Gru Inc holds 0.12% or 148,734 shares in its portfolio.

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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