Rowan Companies PLC (RDC) Given Average Rating of “Hold” by Brokerages

Shares of Rowan Companies PLC (NYSE:RDC) have earned a consensus rating of “Hold” from the twenty-five analysts that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and seven have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $15.58.

RDC has been the subject of a number of research reports. Zacks Investment Research downgraded Rowan Companies from a “buy” rating to a “hold” rating in a research report on Friday, November 17th. Barclays downgraded Rowan Companies from an “equal weight” rating to an “underweight” rating and set a $10.00 target price for the company. in a research report on Tuesday, January 23rd. Cowen set a $14.00 target price on Rowan Companies and gave the stock a “hold” rating in a research report on Thursday, January 11th. Jefferies Group set a $16.00 target price on Rowan Companies and gave the stock a “hold” rating in a research report on Thursday, January 4th. Finally, ValuEngine raised Rowan Companies from a “sell” rating to a “hold” rating in a research report on Friday, December 1st.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. raised its stake in Rowan Companies by 890.9% during the fourth quarter. Macquarie Group Ltd. now owns 2,846,804 shares of the oil and gas company’s stock valued at $44,581,000 after buying an additional 2,559,509 shares in the last quarter. Millennium Management LLC raised its stake in Rowan Companies by 71.6% during the fourth quarter. Millennium Management LLC now owns 1,737,951 shares of the oil and gas company’s stock valued at $27,216,000 after buying an additional 725,265 shares in the last quarter. Meadow Creek Investment Management LLC raised its stake in Rowan Companies by 28.6% during the fourth quarter. Meadow Creek Investment Management LLC now owns 20,502 shares of the oil and gas company’s stock valued at $321,000 after buying an additional 4,556 shares in the last quarter. Teachers Advisors LLC raised its stake in Rowan Companies by 11.6% during the fourth quarter. Teachers Advisors LLC now owns 1,745,264 shares of the oil and gas company’s stock valued at $27,331,000 after buying an additional 181,695 shares in the last quarter. Finally, Paloma Partners Management Co raised its stake in Rowan Companies by 128.3% during the fourth quarter. Paloma Partners Management Co now owns 144,692 shares of the oil and gas company’s stock valued at $2,267,000 after buying an additional 81,316 shares in the last quarter.

Rowan Companies (NYSE:RDC) traded up $0.44 during mid-day trading on Friday, reaching $13.59. The company’s stock had a trading volume of 1,889,437 shares, compared to its average volume of 2,862,191. Rowan Companies has a 1 year low of $9.02 and a 1 year high of $18.97. 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 capitalization of $1,660.23, a P/E ratio of -26.13 and a beta of 1.73.

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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.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

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