Rowan Companies PLC (NYSE:RDC) was upgraded by investment analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Saturday.

A number of other research analysts have also weighed in on RDC. Fearnley Fonds raised shares of Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th. Barclays PLC decreased their price target on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Monday, May 1st. Deutsche Bank AG decreased their price target on shares of Rowan Companies PLC from $17.00 to $16.00 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Jefferies Group LLC decreased their price target on shares of Rowan Companies PLC from $17.00 to $15.00 and set a “hold” rating on the stock in a research note on Wednesday, May 3rd. Finally, ValuEngine raised shares of Rowan Companies PLC from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $16.40.

Shares of Rowan Companies PLC (NYSE RDC) traded up 1.59% during trading on Friday, reaching $9.60. The company’s stock had a trading volume of 4,054,927 shares. The company has a 50 day moving average of $10.56 and a 200 day moving average of $13.36. Rowan Companies PLC has a 12-month low of $9.02 and a 12-month high of $21.68. The company’s market cap is $1.21 billion.

Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.05. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The business had revenue of $320.20 million for the quarter, compared to analyst estimates of $296.87 million. During the same period in the prior year, the company posted $0.75 EPS. The company’s revenue for the quarter was down 47.7% on a year-over-year basis. On average, analysts anticipate that Rowan Companies PLC will post ($0.95) EPS for the current fiscal year.

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Several hedge funds have recently made changes to their positions in RDC. LS Investment Advisors LLC increased its stake in shares of Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock worth $106,000 after buying an additional 2,050 shares in the last quarter. Sciencast Management LP increased its stake in shares of Rowan Companies PLC by 10.0% in the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after buying an additional 1,190 shares in the last quarter. Pacad Investment Ltd. purchased a new stake in shares of Rowan Companies PLC during the second quarter worth about $138,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Rowan Companies PLC during the second quarter worth about $143,000. Finally, Neuberger Berman Group LLC increased its stake in shares of Rowan Companies PLC by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock worth $159,000 after buying an additional 55 shares in the last quarter.

Rowan Companies PLC 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 PLC (NYSE:RDC)

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