Piper Jaffray Companies set a $17.00 price target on Rowan Companies (NYSE:RDC) in a research note issued to investors on Wednesday. The brokerage currently has a hold rating on the oil and gas company’s stock.
RDC has been the topic of several other research reports. Zacks Investment Research cut shares of Rowan Companies from a buy rating to a hold rating in a research note on Friday, October 27th. Cowen set a $10.00 price target on shares of Rowan Companies and gave the company a hold rating in a research report on Wednesday, October 18th. ValuEngine raised shares of Rowan Companies from a sell rating to a hold rating in a research report on Friday, December 1st. initiated coverage on shares of Rowan Companies in a research report on Thursday, October 19th. They set a buy rating and a $16.80 price target on the stock. Finally, Jefferies Group set a $16.00 price target on shares of Rowan Companies and gave the company a hold rating in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $15.60.
Shares of Rowan Companies (RDC) opened at $12.77 on Wednesday. Rowan Companies has a one year low of $9.02 and a one year high of $18.97. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1,584.48, a price-to-earnings ratio of -24.56 and a beta of 1.73.
A number of institutional investors and hedge funds have recently modified their holdings of RDC. Wells Fargo & Company MN raised its holdings in Rowan Companies by 164.0% in the 2nd quarter. Wells Fargo & Company MN now owns 258,250 shares of the oil and gas company’s stock valued at $2,645,000 after buying an additional 160,417 shares during the period. Alliancebernstein L.P. raised its holdings in Rowan Companies by 125.4% in the 2nd quarter. Alliancebernstein L.P. now owns 178,320 shares of the oil and gas company’s stock valued at $1,826,000 after buying an additional 99,199 shares during the period. GSA Capital Partners LLP purchased a new stake in Rowan Companies in the 2nd quarter valued at about $203,000. FMR LLC raised its holdings in Rowan Companies by 140.0% in the 2nd quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock valued at $16,800,000 after buying an additional 957,047 shares during the period. Finally, Suntrust Banks Inc. raised its holdings in 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 valued at $200,000 after buying an additional 646 shares during the period.
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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.
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