Horseman Capital Management Ltd Purchases New Holdings in Rowan Companies PLC (RDC)

Horseman Capital Management Ltd purchased a new stake in Rowan Companies PLC (NYSE:RDC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 507,500 shares of the oil and gas company’s stock, valued at approximately $7,947,000. Rowan Companies comprises 1.7% of Horseman Capital Management Ltd’s portfolio, making the stock its 21st largest holding. Horseman Capital Management Ltd owned 0.40% of Rowan Companies at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wedbush Securities Inc. bought a new position in Rowan Companies in the third quarter valued at about $135,000. Smith Salley & Associates bought a new position in Rowan Companies during the third quarter worth about $146,000. LMR Partners LLP bought a new position in Rowan Companies during the third quarter worth about $165,000. Virtu Financial LLC bought a new position in Rowan Companies during the fourth quarter worth about $184,000. Finally, Crossmark Global Holdings Inc. bought a new position in Rowan Companies during the third quarter worth about $276,000.

A number of brokerages have issued reports on RDC. B. Riley set a $16.00 target price on Rowan Companies and gave the stock a “buy” rating in a report on Friday, January 5th. Cowen set a $14.00 target price on Rowan Companies and gave the stock a “hold” rating in a report on Thursday, January 11th. Susquehanna Bancshares set a $15.00 target price on Rowan Companies and gave the stock a “hold” rating in a report on Friday, January 12th. Jefferies Group set a $16.00 target price on Rowan Companies and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, Piper Jaffray Companies cut Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 target price on the stock. in a 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 stock. Rowan Companies has an average rating of “Hold” and an average price target of $15.60.

Shares of Rowan Companies PLC (NYSE:RDC) opened at $12.62 on Wednesday. Rowan Companies PLC has a 1 year low of $9.02 and a 1 year high of $18.97. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47.

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About Rowan Companies

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.

Institutional Ownership by Quarter for Rowan Companies (NYSE:RDC)

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