Several other analysts have also commented on the company. Zacks Investment Research lowered Rowan Companies from a buy rating to a hold rating in a report on Friday, November 17th. initiated coverage on Rowan Companies in a report on Thursday, October 19th. They set a buy rating and a $16.80 price objective for the company. Deutsche Bank initiated coverage on Rowan Companies in a report on Tuesday, October 10th. They set a hold rating and a $15.00 price objective for the company. Piper Jaffray Companies restated a buy rating and issued a $15.00 target price on shares of Rowan Companies in a research note on Sunday, October 22nd. Finally, UBS Group upgraded Rowan Companies from a neutral rating to a buy rating and raised their target price for the stock from $11.00 to $15.00 in a research note on Monday, September 25th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $16.54.
Shares of Rowan Companies (NYSE:RDC) traded up $0.07 on Friday, hitting $17.17. The stock had a trading volume of 1,642,918 shares, compared to its average volume of 2,211,979. Rowan Companies has a 12-month low of $9.02 and a 12-month high of $20.34. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.80 and a current ratio of 5.80. The stock has a market cap of $2,158.93, a price-to-earnings ratio of -33.02 and a beta of 1.90.
A number of institutional investors and hedge funds have recently made changes to their positions in RDC. Schwab Charles Investment Management Inc. grew its position in Rowan Companies by 42.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 2,027,910 shares of the oil and gas company’s stock worth $20,766,000 after purchasing an additional 602,479 shares during the period. Comerica Bank grew its position in Rowan Companies by 0.3% during the 2nd quarter. Comerica Bank now owns 104,828 shares of the oil and gas company’s stock worth $1,182,000 after purchasing an additional 267 shares during the period. Principal Financial Group Inc. grew its position in Rowan Companies by 4.9% during the 2nd quarter. Principal Financial Group Inc. now owns 543,789 shares of the oil and gas company’s stock worth $5,569,000 after purchasing an additional 25,574 shares during the period. Pacad Investment Ltd. acquired a new stake in Rowan Companies during the 2nd quarter worth about $138,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Rowan Companies by 0.4% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,403 shares of the oil and gas company’s stock worth $188,000 after purchasing an additional 71 shares during the period.
Rowan Companies Company 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.
Receive News & Ratings for Rowan Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rowan Companies and related companies with MarketBeat.com's FREE daily email newsletter.