Rowan Companies (RDC) Stock Rating Upgraded by DNB Markets

Rowan Companies (NYSE:RDC) was upgraded by equities researchers at DNB Markets from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, February 14th, MarketBeat Ratings reports. The firm presently has a $15.00 target price on the oil and gas company’s stock. DNB Markets’ target price would indicate a potential upside of 18.86% from the stock’s previous close.

A number of other brokerages have also commented on RDC. BMO Capital Markets set a $12.00 price target on Rowan Companies and gave the stock a “hold” rating in a report on Tuesday, October 17th. Cowen set a $14.00 target price on Rowan Companies and gave the company a “hold” rating in a research note on Thursday, January 11th. FBR & Co restated a “buy” rating on shares of Rowan Companies in a research note on Thursday, October 19th. B. Riley reiterated a “buy” rating on shares of Rowan Companies in a research report on Wednesday, November 1st. Finally, Zacks Investment Research upgraded Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Thursday, November 16th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $15.60.

Rowan Companies (NYSE:RDC) opened at $12.62 on Wednesday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 5.80 and a current ratio of 5.80. Rowan Companies has a 1 year low of $9.02 and a 1 year high of $18.97.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RDC. 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 worth $200,000 after purchasing an additional 646 shares during the period. Meadow Creek Investment Management LLC raised its holdings in Rowan Companies by 28.6% in the 4th quarter. Meadow Creek Investment Management LLC now owns 20,502 shares of the oil and gas company’s stock worth $321,000 after purchasing an additional 4,556 shares during the period. Pinnacle Associates Ltd. raised its holdings in Rowan Companies by 9.4% during the fourth quarter. Pinnacle Associates Ltd. now owns 60,316 shares of the oil and gas company’s stock valued at $945,000 after acquiring an additional 5,199 shares during the period. Swiss National Bank raised its holdings in Rowan Companies by 3.1% during the fourth quarter. Swiss National Bank now owns 202,000 shares of the oil and gas company’s stock valued at $3,163,000 after acquiring an additional 6,000 shares during the period. Finally, California Public Employees Retirement System raised its holdings in Rowan Companies by 0.9% during the fourth quarter. California Public Employees Retirement System now owns 697,824 shares of the oil and gas company’s stock valued at $10,928,000 after acquiring an additional 6,208 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.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

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