As Rowan Companies Plc (RDC) Shares Rose, Blue Harbour Group LP Has Decreased Its Position by $45.85 Million

August 9, 2018 - By Pearl Odom

Rowan Companies plc (NYSE:RDC) LogoInvestors sentiment increased to 1.18 in 2018 Q1. Its up 0.23, from 0.95 in 2017Q4. It is positive, as 22 investors sold RDC shares while 57 reduced holdings. 25 funds opened positions while 68 raised stakes. 123.12 million shares or 3.29% less from 127.30 million shares in 2017Q4 were reported. 2.11M were accumulated by Fmr Limited Liability. 253,742 were accumulated by Barclays Public Limited Company. Moreover, Mackenzie has 0.09% invested in Rowan Companies plc (NYSE:RDC). Dupont Mngmt Corporation holds 0.08% of its portfolio in Rowan Companies plc (NYSE:RDC) for 286,727 shares. Pub Employees Retirement Association Of Colorado holds 0% or 22,230 shares in its portfolio. Matarin Cap Ltd Liability Corp owns 16,044 shares or 0% of their US portfolio. Wellington Mgmt Group Limited Liability Partnership owns 46,654 shares. Luminus Management Limited Liability Com has invested 0.63% in Rowan Companies plc (NYSE:RDC). Magnetar Fincl Limited Co invested in 50,584 shares. Glenmede Na has 542 shares for 0% of their portfolio. Energ Opportunities Capital Management stated it has 1.12% in Rowan Companies plc (NYSE:RDC). Castleark Mngmt Ltd Liability Com owns 21,880 shares for 0.01% of their portfolio. Jpmorgan Chase And invested 0.01% in Rowan Companies plc (NYSE:RDC). Lsv Asset Management invested in 0.02% or 880,800 shares. Gotham Asset Mngmt Lc holds 0.11% of its portfolio in Rowan Companies plc (NYSE:RDC) for 700,079 shares.

Since February 22, 2018, it had 0 insider purchases, and 2 insider sales for $135,706 activity. On Wednesday, June 20 Anderson Richard Jason sold $88,020 worth of Rowan Companies plc (NYSE:RDC) or 6,000 shares.

Blue Harbour Group Lp decreased its stake in Rowan Companies Plc (RDC) by 47.65% based on its latest 2018Q1 regulatory filing with the SEC. Blue Harbour Group Lp sold 4.17M shares as the company’s stock rose 11.76% while stock markets declined. The hedge fund held 4.58M shares of the oil & gas production company at the end of 2018Q1, valued at $52.85 million, down from 8.75M at the end of the previous reported quarter. Blue Harbour Group Lp who had been investing in Rowan Companies Plc for a number of months, seems to be less bullish one the $1.72B market cap company. The stock decreased 0.51% or $0.07 during the last trading session, reaching $13.54. About 2.95M shares traded or 19.58% up from the average. Rowan Companies plc (NYSE:RDC) has risen 21.79% since August 9, 2017 and is uptrending. It has outperformed by 9.22% the S&P500.

Blue Harbour Group Lp, which manages about $2.20 billion and $2.88 billion US Long portfolio, upped its stake in Commscope Hldg Co Inc (NASDAQ:COMM) by 2.43M shares to 7.74 million shares, valued at $309.29 million in 2018Q1, according to the filing. It also increased its holding in Xilinx Inc (NASDAQ:XLNX) by 694,000 shares in the quarter, for a total of 4.98 million shares, and has risen its stake in On Semiconductor Corp (ONNN).

Analysts await Rowan Companies plc (NYSE:RDC) to report earnings on November, 7. They expect $-1.05 EPS, down 556.25 % or $0.89 from last year’s $-0.16 per share. After $-0.60 actual EPS reported by Rowan Companies plc for the previous quarter, Wall Street now forecasts 75.00 % negative EPS growth.

More notable recent Rowan Companies plc (NYSE:RDC) news were published by: Seekingalpha.com which released: “Rowan: Discussion Of Q2 Results” on August 02, 2018, also Seekingalpha.com with their article: “Rowan Companies – Second Quarter Results Analysis” published on August 08, 2018, Seekingalpha.com published: “Rowan: 2nd-Quarter Shows Strong Future Position” on August 04, 2018. More interesting news about Rowan Companies plc (NYSE:RDC) were released by: Seekingalpha.com and their article: “Rowan: Echoing The Industry-Wide Narrative” published on August 01, 2018 as well as Seekingalpha.com‘s news article titled: “Rowan: July Fleet Status Report Analysis” with publication date: July 20, 2018.

Rowan Companies plc (NYSE:RDC) Ratings Coverage

Among 11 analysts covering Rowan Companies (NYSE:RDC), 3 have Buy rating, 0 Sell and 8 Hold. Therefore 27% are positive. Rowan Companies has $20 highest and $12.0 lowest target. $14.75’s average target is 8.94% above currents $13.54 stock price. Rowan Companies had 15 analyst reports since February 14, 2018 according to SRatingsIntel. Susquehanna maintained it with “Hold” rating and $12.0 target in Thursday, March 1 report. Piper Jaffray maintained Rowan Companies plc (NYSE:RDC) rating on Friday, March 16. Piper Jaffray has “Hold” rating and $15.0 target. The rating was maintained by FBR Capital with “Buy” on Monday, June 11. The firm earned “Neutral” rating on Friday, May 4 by Credit Suisse. As per Wednesday, February 14, the company rating was maintained by Susquehanna. Societe Generale upgraded Rowan Companies plc (NYSE:RDC) on Friday, August 3 to “Buy” rating. Wells Fargo upgraded the stock to “Outperform” rating in Thursday, May 24 report. Susquehanna maintained the stock with “Hold” rating in Friday, April 13 report. As per Thursday, March 1, the company rating was maintained by Jefferies. The stock has “Hold” rating by Cowen & Co on Thursday, March 15.

Rowan Companies plc (NYSE:RDC) Ratings Chart

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.