Notable Reporting: Will Rowan Companies PLC Go Down Anytime Soon?

Notable Reporting: Will Rowan Companies PLC Go Down Anytime Soon?

The stock of Rowan Companies PLC (NYSE:RDC) is a huge mover today! About 2.20 million shares traded hands. Rowan Companies PLC (NYSE:RDC) has declined 13.37% since April 13, 2016 and is downtrending. It has underperformed by 17.30% the S&P500.
The move comes after 5 months positive chart setup for the $2.03B company. It was reported on Nov, 15 by Barchart.com. We have $19.96 PT which if reached, will make NYSE:RDC worth $588.70M more.

Rowan Companies PLC (NYSE:RDC) Ratings Coverage

Out of 23 analysts covering Rowan Companies Inc. (NYSE:RDC), 7 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 30% are positive. Rowan Companies Inc. has been the topic of 54 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The company was maintained on Thursday, November 3 by FBR Capital. The stock of Rowan Companies PLC (NYSE:RDC) has “Buy” rating given on Wednesday, September 28 by Jefferies. The firm has “Neutral” rating given on Monday, October 10 by . On Friday, September 23 the stock rating was downgraded by Credit Suisse to “Neutral”. The firm has “Hold” rating by Citigroup given on Wednesday, March 16. The stock has “Buy” rating given by Seaport Global on Monday, March 14. The stock has “Sector Weight” rating given by KeyBanc Capital Markets on Friday, October 9. The stock of Rowan Companies PLC (NYSE:RDC) earned “Buy” rating by KLR on Monday, December 14. The stock has “Neutral” rating given by Citigroup on Monday, May 16. The firm has “Sell” rating given on Monday, October 3 by Societe Generale.

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 turned negative, 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.
Sei Communications last reported 0% of its portfolio in the stock. Alliancebernstein Lp, a New York-based fund reported 96,521 shares. Blackrock Institutional Tru Na holds 3.70M shares or 0.01% of its portfolio. Manufacturers Life Ins Company The, a Ontario – Canada-based fund reported 170,288 shares. Price T Rowe Assoc Md holds 1.27M shares or 0% of its portfolio. The Germany-based Deutsche Fincl Bank Ag has invested 0.01% in Rowan Companies PLC (NYSE:RDC). Northern Trust Corporation has 0.01% invested in the company for 1.23 million shares. Canada Pension Plan Invest Board reported 429,262 shares or 0.03% of all its holdings. Spot Trading Ltd Liability last reported 0% of its portfolio in the stock. United Automobile Association holds 0% or 30,150 shares in its portfolio. Princeton Alpha Lp reported 13,956 shares or 0.04% of all its holdings. Ig Inv Mngmt Limited last reported 242,834 shares in the company. Moreover, Blackrock Japan Limited has 0% invested in Rowan Companies PLC (NYSE:RDC) for 17,732 shares. Federated Investors Pa has 0.01% invested in the company for 173,408 shares. Marshall Wace Limited Liability Partnership has 0.01% invested in the company for 70,522 shares.

Another recent and important Rowan Companies PLC (NYSE:RDC) news was published by Seekingalpha.com which published an article titled: “Rowan – Repsol Terminates The Rowan Renaissance Effective Immediately” on November 15, 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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