Rowan Companies (NYSE:RDC) received a $15.00 price objective from investment analysts at Piper Jaffray in a research note issued to investors on Friday, March 16th. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray’s price objective would suggest a potential upside of 19.05% from the stock’s previous close.
Other equities analysts have also recently issued reports about the company. Cowen reissued a “hold” rating and issued a $12.00 price target on shares of Rowan Companies in a report on Thursday, March 15th. Zacks Investment Research raised Rowan Companies from a “sell” rating to a “hold” rating in a report on Tuesday, March 13th. Jefferies Group set a $13.00 price objective on Rowan Companies and gave the company a “hold” rating in a research report on Thursday, March 1st. Susquehanna Bancshares set a $12.00 price objective on Rowan Companies and gave the company a “hold” rating in a research report on Thursday, March 1st. Finally, TheStreet raised Rowan Companies from a “d+” rating to a “c” rating in a research report on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $14.69.
Shares of Rowan Companies stock traded down $0.04 during trading on Friday, reaching $12.60. The company’s stock had a trading volume of 2,648,324 shares, compared to its average volume of 2,640,584. The company has a debt-to-equity ratio of 0.47, a current ratio of 6.06 and a quick ratio of 6.06. Rowan Companies has a 12-month low of $9.02 and a 12-month high of $17.33. The company has a market cap of $1,590.98, a PE ratio of -19.69 and a beta of 1.80.
Rowan Companies (NYSE:RDC) last issued its quarterly earnings data on Wednesday, February 28th. The oil and gas company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.05). The firm had revenue of $296.70 million for the quarter, compared to analyst estimates of $270.28 million. Rowan Companies had a negative return on equity of 1.52% and a net margin of 5.67%. The business’s revenue for the quarter was down 15.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.08 earnings per share. equities research analysts anticipate that Rowan Companies will post -3.4 EPS for the current fiscal year.
In related news, CFO Stephen M. Butz sold 3,671 shares of the business’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total value of $47,686.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.77% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Macquarie Group Ltd. raised its stake in Rowan Companies by 5.5% during the third quarter. Macquarie Group Ltd. now owns 287,295 shares of the oil and gas company’s stock valued at $3,692,000 after buying an additional 14,850 shares in the last quarter. California Public Employees Retirement System raised its stake in Rowan Companies by 98.6% during the third quarter. California Public Employees Retirement System now owns 691,616 shares of the oil and gas company’s stock valued at $8,887,000 after buying an additional 343,316 shares in the last quarter. Trexquant Investment LP acquired a new stake in Rowan Companies during the third quarter valued at approximately $1,448,000. Virginia Retirement Systems ET AL raised its stake in Rowan Companies by 32.7% during the third quarter. Virginia Retirement Systems ET AL now owns 31,096 shares of the oil and gas company’s stock valued at $400,000 after buying an additional 7,664 shares in the last quarter. Finally, Pinnacle Associates Ltd. raised its stake 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 buying an additional 5,199 shares in the last quarter.
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About Rowan Companies
Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.
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