DNB Markets Upgrades Rowan Companies (RDC) to Buy

Rowan Companies (NYSE:RDC) was upgraded by investment analysts at DNB Markets from a “hold” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports. The firm presently has a $15.00 price target on the oil and gas company’s stock. DNB Markets’ price objective points to a potential upside of 19.90% from the company’s current price.

RDC has been the subject of a number of other research reports. Zacks Investment Research downgraded shares of Rowan Companies from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Cowen set a $10.00 price objective on shares of Rowan Companies and gave the stock a “hold” rating in a report on Wednesday, October 18th. ValuEngine raised shares of Rowan Companies from a “sell” rating to a “hold” rating in a report on Friday, December 1st. assumed coverage on shares of Rowan Companies in a report on Thursday, October 19th. They issued a “buy” rating and a $16.80 price objective for the company. Finally, Jefferies Group set a $16.00 price target on shares of Rowan Companies and gave the company a “hold” rating in a report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $15.66.

Rowan Companies (NYSE RDC) traded up $0.24 during trading on Wednesday, reaching $12.51. 3,510,000 shares of the company’s stock were exchanged, compared to its average volume of 2,880,000. The firm has a market capitalization of $1,580.00, a P/E ratio of -24.53 and a beta of 1.73. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies has a 1 year low of $9.02 and a 1 year high of $19.01.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Assetmark Inc. raised its stake in shares of Rowan Companies by 3,057.4% during the fourth quarter. Assetmark Inc. now owns 8,525 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 8,255 shares in the last quarter. Wedbush Securities Inc. bought a new stake in shares of Rowan Companies during the third quarter valued at about $135,000. Smith Salley & Associates bought a new stake in shares of Rowan Companies during the third quarter valued at about $146,000. LMR Partners LLP bought a new stake in shares of Rowan Companies during the third quarter valued at about $165,000. Finally, Investors Research Corp bought a new stake in shares of Rowan Companies during the fourth quarter valued at about $177,000.

COPYRIGHT VIOLATION NOTICE: “DNB Markets Upgrades Rowan Companies (RDC) to Buy” was first published by American Banking News and is owned by of American Banking News. If you are reading this news story on another domain, it was copied illegally and republished in violation of US and international copyright law. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/02/14/dnb-markets-upgrades-rowan-companies-rdc-to-buy.html.

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)

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.

Leave a Reply