Vertex One Asset Management Inc. increased its holdings in shares of Rowan Companies PLC (NYSE:RDC) by 26.3% during the 4th quarter, HoldingsChannel reports. The firm owned 336,000 shares of the oil and gas company’s stock after purchasing an additional 70,000 shares during the period. Vertex One Asset Management Inc.’s holdings in Rowan Companies were worth $5,262,000 as of its most recent SEC filing.
Several other large investors have also added to or reduced their stakes in RDC. Deutsche Bank AG raised its position in Rowan Companies by 2.2% in the 4th quarter. Deutsche Bank AG now owns 633,144 shares of the oil and gas company’s stock valued at $9,912,000 after buying an additional 13,778 shares during the last quarter. CoreCommodity Management LLC raised its position in Rowan Companies by 13.7% in the 4th quarter. CoreCommodity Management LLC now owns 62,427 shares of the oil and gas company’s stock valued at $978,000 after buying an additional 7,538 shares during the last quarter. AMP Capital Investors Ltd acquired a new stake in Rowan Companies in the 4th quarter valued at approximately $898,000. BlueCrest Capital Management Ltd acquired a new stake in Rowan Companies in the 4th quarter valued at approximately $1,595,000. Finally, Renaissance Technologies LLC acquired a new stake in Rowan Companies in the 4th quarter valued at approximately $540,000.
Shares of Rowan Companies PLC (RDC) traded up $0.30 during midday trading on Monday, hitting $12.33. The stock had a trading volume of 152,854 shares, compared to its average volume of 2,983,222. The company has a debt-to-equity ratio of 0.47, a current ratio of 6.06 and a quick ratio of 6.06. Rowan Companies PLC has a one year low of $9.02 and a one year high of $17.33. The company has a market cap of $1,519.00, a P/E ratio of 21.48 and a beta of 1.81.
In other news, CFO Stephen M. Butz sold 3,671 shares of Rowan Companies stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total transaction of $47,686.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.77% of the company’s stock.
RDC has been the topic of a number of recent research reports. Zacks Investment Research raised Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Thursday, November 16th. ValuEngine raised Rowan Companies from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. Jefferies Group set a $16.00 target price on Rowan Companies and gave the company a “hold” rating in a research report on Thursday, January 4th. B. Riley set a $16.00 target price on Rowan Companies and gave the company a “buy” rating in a research report on Friday, January 5th. Finally, Piper Jaffray Companies lowered Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a research report on Thursday, January 11th. Three research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $15.32.
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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.
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