Rowan Companies: Institutional Investors Buying Stock in Third Quarter

Insiders are generally long-term investors due to restriction in making short-term profits. In contrast, wealth management institutions always have short-term investment. Wall St. Watchdog reveals information regarding the insiders and institutions which recently increased stock shares of Rowan Companies Inc. (NYSE:RDC).

SEC data indicate that these institutions significantly increased their stock shares of Rowan Companies Inc. in Q3 2011:

  • IVORY INVESTMENT MANAGEMENT. L.P.: On 06/30/2011, held 0 shares. On 09/30/2011, held 3,143,800 shares, worth $94,911,322.
  • CARLSON CAPITAL L P: On 06/30/2011, held 0 shares. On 09/30/2011, held 616,000 shares, worth $18,597,040.
  • EDOMA PARTNERS LLP: On 06/30/2011, held 0 shares. On 09/30/2011, held 391,000 shares, worth $11,804,290.
  • MORGAN STANLEY: On 06/30/2011, held 0 shares. On 09/30/2011, held 279,137 shares, worth $8,427,146.
  • PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO: On 06/30/2011, held 0 shares. On 09/30/2011, held 230,992 shares, worth $6,973,648.

About the company: Rowan Companies, Inc. provides international and domestic contract drilling services. The Company also owns and operates a manufacturing division that produces equipment for the drilling, mining and timber industries.

Competitors to Watch: Pride International, Inc. (NYSE:PDE), Atwood Oceanics, Inc. (NYSE:ATW), Hercules Offshore, Inc. (NASDAQ:HERO), Diamond Offshore Drilling, Inc. (NYSE:DO), Vantage Drilling Company (AMEX:VTG), Seahawk Drilling, Inc. (NASDAQ:HAWK), Helmerich & Payne, Inc. (NYSE:HP), Parker Drilling Company (NYSE:PKD), Patterson-UTI Energy, Inc. (NASDAQ:PTEN), and Pioneer Drilling Company (AMEX:PDC).

(Note: Data regarding Rowan Companies Inc.’s stock holdings are sourced from whalewisdom.com. All data are assumed to be accurate.)

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