In today’s session Rowan Companies PLC (RDC) recorded an unusually high (600) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the November, 2016 put, expecting serious RDC decrease. With 600 contracts traded and 584 open interest for the Nov, 16 contract, it seems this is a quite bearish bet. The option with symbol: RDC161118P00014000 closed last at: $0.8 or 6.7% up. About 366,856 shares traded hands. Rowan Companies PLC (NYSE:RDC) has declined 14.48% since March 15, 2016 and is downtrending. It has underperformed by 19.97% the S&P500.
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. $26 is the highest target while $10 is the lowest. The $17.94 average target is 26.34% above today’s ($14.2) stock price. Rowan Companies Inc. has been the topic of 52 analyst reports since July 22, 2015 according to StockzIntelligence Inc. Howard Weil initiated the shares of RDC in a report on Wednesday, September 14 with “Sector Perform” rating. The stock of Rowan Companies PLC (NYSE:RDC) earned “Buy” rating by Seaport Global on Monday, March 14. The firm has “Neutral” rating given on Friday, September 23 by Credit Suisse. The rating was maintained by Bank of America on Monday, June 13 with “Underperform”. On Tuesday, July 26 the stock rating was downgraded by Raymond James to “Market Perform”. The firm has “Sector Perform” rating given on Friday, August 12 by RBC Capital Markets. The rating was upgraded by Johnson Rice on Monday, June 13 to “Buy”. The company was upgraded on Thursday, January 28 by Morgan Stanley. The stock has “Underperform” rating given by Credit Agricole on Tuesday, December 22. The rating was maintained by with “Neutral” on Monday, October 10.
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 fall, 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.
Canada Pension Plan Investment Board holds 429,262 shares or 0.03% of its portfolio. Principal Grp accumulated 478,402 shares or 0.01% of the stock. Paloma Prns Mngmt Communications holds 0% of its portfolio in Rowan Companies PLC (NYSE:RDC) for 13,499 shares. Lord Abbett Com Ltd has 771,200 shares for 0.04% of their US portfolio. Art Ltd Limited Liability Company has 273,694 shares for 0.24% of their US portfolio. Capstone Asset Mngmt last reported 0.01% of its portfolio in the stock. Schwab Charles Invest Mgmt Inc last reported 1.13M shares in the company. Teachers Advisors holds 0.03% or 910,578 shares in its portfolio. Moreover, State Street has 0.01% invested in Rowan Companies PLC (NYSE:RDC) for 4.29M shares. Moreover, Ahl Prtn Llp has 0.04% invested in Rowan Companies PLC (NYSE:RDC) for 41,160 shares. Advisors Asset Management accumulated 0.01% or 38,173 shares. The Massachusetts-based Hall Laurie J Trustee has invested 0% in Rowan Companies PLC (NYSE:RDC). Castleark Management Ltd Limited Liability Company holds 0.01% of its portfolio in Rowan Companies PLC (NYSE:RDC) for 21,880 shares. Citigroup, a New York-based fund reported 6,385 shares. The Texas-based Engy Opportunities Cap Ltd Liability has invested 0.83% in Rowan Companies PLC (NYSE:RDC).
Rowan Companies plc is a provider of offshore contract drilling services to the international gas and oil industry. The company has a market cap of $1.74 billion. The Firm operates through two divisions: deepwater and jack-ups. It has a 8.12 P/E ratio. The Company’s deepwater segment consists of drillship operations.
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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