Piper Jaffray Companies Analysts Give Rowan Companies (RDC) a $17.00 Price Target

Rowan Companies (NYSE:RDC) received a $17.00 target price from equities researchers at Piper Jaffray Companies in a research report issued to clients and investors on Wednesday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 35.89% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. FBR & Co reiterated a “buy” rating on shares of Rowan Companies in a research note on Thursday, October 19th. started coverage on shares of Rowan Companies in a research note on Thursday, October 19th. They set a “buy” rating and a $16.80 target price for the company. B. Riley reiterated a “buy” rating on shares of Rowan Companies in a research note on Wednesday, November 1st. Zacks Investment Research upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, November 16th. Finally, UBS Group boosted their target price on shares of Rowan Companies from $15.00 to $18.00 and gave the company a “buy” rating in a research note on Monday, November 6th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $15.66.

Rowan Companies (NYSE:RDC) traded up $0.24 during mid-day trading on Wednesday, reaching $12.51. The company had a trading volume of 1,957,677 shares, compared to its average volume of 2,842,839. The company has a market cap of $1,617.30, a PE ratio of -23.71 and a beta of 1.73. Rowan Companies has a fifty-two week low of $9.02 and a fifty-two week high of $18.97. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.80.

Several large investors have recently bought and sold shares of the company. Suntrust Banks Inc. increased its stake in shares of Rowan Companies by 3.4% in the 2nd quarter. Suntrust Banks Inc. now owns 19,614 shares of the oil and gas company’s stock worth $200,000 after purchasing an additional 646 shares in the last quarter. Pinnacle Associates Ltd. increased its stake in shares of Rowan Companies by 9.4% in the 4th quarter. Pinnacle Associates Ltd. now owns 60,316 shares of the oil and gas company’s stock worth $945,000 after purchasing an additional 5,199 shares in the last quarter. Swiss National Bank increased its stake in shares of Rowan Companies by 3.1% in the 4th quarter. Swiss National Bank now owns 202,000 shares of the oil and gas company’s stock worth $3,163,000 after purchasing an additional 6,000 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Rowan Companies by 0.9% in the 4th quarter. California Public Employees Retirement System now owns 697,824 shares of the oil and gas company’s stock worth $10,928,000 after purchasing an additional 6,208 shares in the last quarter. Finally, CoreCommodity Management LLC increased its stake in shares of Rowan Companies by 13.7% in the 4th quarter. CoreCommodity Management LLC now owns 62,427 shares of the oil and gas company’s stock worth $978,000 after purchasing an additional 7,538 shares in the last quarter.

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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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