Rowan Companies (NYSE:RDC) received a $15.00 target price from stock analysts at Susquehanna Bancshares in a research note issued to investors on Friday. The firm presently has a “hold” rating on the oil and gas company’s stock. Susquehanna Bancshares’ price objective points to a potential downside of 12.64% from the stock’s previous close.
A number of other research analysts have also recently issued reports on the stock. Cowen set a $14.00 target price on shares of Rowan Companies and gave the company a “hold” rating in a report on Thursday. Piper Jaffray Companies cut shares of Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 target price for the company. in a report on Thursday. B. Riley set a $16.00 target price on shares of Rowan Companies and gave the company a “buy” rating in a report on Friday, January 5th. Jefferies Group set a $16.00 target price on shares of Rowan Companies and gave the company a “hold” rating in a report on Thursday, January 4th. Finally, ValuEngine raised shares of Rowan Companies from a “sell” rating to a “hold” rating in a report on Friday, December 1st. Three 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 stock presently has an average rating of “Hold” and an average price target of $16.54.
Rowan Companies (NYSE RDC) traded up $0.07 during midday trading on Friday, reaching $17.17. 1,642,918 shares of the company traded hands, compared to its average volume of 2,211,979. The stock has a market capitalization of $2,158.93, a PE ratio of -33.02 and a beta of 1.90. Rowan Companies has a 52-week low of $9.02 and a 52-week high of $20.34. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47.
Several institutional investors and hedge funds have recently modified their holdings of RDC. BlackRock Inc. increased its stake in shares of Rowan Companies by 30.3% during the 2nd quarter. BlackRock Inc. now owns 14,315,633 shares of the oil and gas company’s stock worth $146,590,000 after purchasing an additional 3,327,747 shares in the last quarter. Northern Trust Corp increased its stake in shares of Rowan Companies by 145.7% during the 2nd quarter. Northern Trust Corp now owns 3,151,757 shares of the oil and gas company’s stock worth $32,274,000 after purchasing an additional 1,869,194 shares in the last quarter. Odey Asset Management Group Ltd purchased a new position in shares of Rowan Companies during the 2nd quarter worth approximately $16,866,000. Key Group Holdings Cayman LTD. increased its stake in shares of Rowan Companies by 142.8% during the 2nd quarter. Key Group Holdings Cayman LTD. now owns 2,783,345 shares of the oil and gas company’s stock worth $28,501,000 after purchasing an additional 1,636,896 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Rowan Companies by 24.1% during the 2nd quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock worth $52,005,000 after purchasing an additional 986,257 shares in the last quarter.
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About Rowan Companies
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.
