The stock of Rowan Companies PLC (NYSE:RDC) is a huge mover today! About 1.14M shares traded hands. Rowan Companies PLC (NYSE:RDC) has declined 13.29% since March 16, 2016 and is downtrending. It has underperformed by 18.84% the S&P500.
The move comes after 6 months positive chart setup for the $1.81 billion company. It was reported on Oct, 19 by Barchart.com. We have $19.14 PT which if reached, will make NYSE:RDC worth $561.10 million more.
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. Bank of America maintained the shares of RDC in a report on Monday, June 13 with “Underperform” rating. The stock of Rowan Companies PLC (NYSE:RDC) has “Sector Perform” rating given on Friday, August 12 by RBC Capital Markets. The stock of Rowan Companies PLC (NYSE:RDC) earned “Equal-Weight” rating by Morgan Stanley on Thursday, January 28. Credit Suisse downgraded Rowan Companies PLC (NYSE:RDC) on Friday, September 23 to “Neutral” rating. On Monday, October 3 the stock rating was downgraded by Societe Generale to “Sell”. The stock of Rowan Companies PLC (NYSE:RDC) earned “Reduce” rating by Fearnley on Wednesday, March 9. Citigroup initiated Rowan Companies PLC (NYSE:RDC) on Tuesday, October 20 with “Neutral” rating. maintained the shares of RDC in a report on Monday, October 10 with “Neutral” rating. Raymond James downgraded the shares of RDC in a report on Tuesday, July 26 to “Market Perform” rating. On Wednesday, November 4 the stock rating was maintained by RBC Capital Markets with “Sector 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 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.
Us Fincl Bank De holds 0% of its portfolio in Rowan Companies PLC (NYSE:RDC) for 57 shares. Lsv Asset Management last reported 2.77 million shares in the company. Ahl Prtn Llp reported 41,160 shares or 0.04% of all its holdings. Cipher Cap L P holds 0.13% of its portfolio in Rowan Companies PLC (NYSE:RDC) for 106,893 shares. Nuveen Asset Management Ltd Limited Liability Company has 0.04% invested in the company for 378,756 shares. Royal Fincl Bank Of Canada owns 87,325 shares or 0% of their US portfolio. Credit Agricole S A accumulated 24,936 shares or 0% of the stock. Jane Street Gru Limited Liability holds 0% or 38,342 shares in its portfolio. Pzena Invest Mngmt Limited Liability Com has 0.11% invested in the company for 996,725 shares. Hutchin Hill Cap L P has invested 0.05% of its portfolio in Rowan Companies PLC (NYSE:RDC). The Florida-based Raymond James And Associates has invested 0% in Rowan Companies PLC (NYSE:RDC). Hall Laurie J Trustee has invested 0% of its portfolio in Rowan Companies PLC (NYSE:RDC). Arosa Mngmt Limited Partnership has 0.86% invested in the company for 396,168 shares. Moreover, Pnc Fin Svcs Group has 0% invested in Rowan Companies PLC (NYSE:RDC) for 2,651 shares. Moreover, Tiaa Cref Investment Ltd Liability Com has 0.01% invested in Rowan Companies PLC (NYSE:RDC) for 1.01 million shares.
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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