Rowan Companies PLC (NYSE:RDC) VP Richard Jason Anderson sold 6,000 shares of Rowan Companies stock in a transaction on Wednesday, June 20th. The stock was sold at an average price of $14.67, for a total transaction of $88,020.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of Rowan Companies opened at $15.23 on Friday, Marketbeat Ratings reports. Rowan Companies PLC has a 52-week low of $9.02 and a 52-week high of $17.33. The company has a quick ratio of 6.03, a current ratio of 6.03 and a debt-to-equity ratio of 0.48.
Rowan Companies (NYSE:RDC) last announced its quarterly earnings data on Tuesday, May 1st. The oil and gas company reported ($0.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.86) by ($0.03). Rowan Companies had a negative net margin of 4.46% and a negative return on equity of 3.83%. The firm had revenue of $211.20 million during the quarter, compared to the consensus estimate of $207.33 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. The company’s revenue was down 43.6% on a year-over-year basis. equities research analysts predict that Rowan Companies PLC will post -3.83 earnings per share for the current year.
Institutional investors have recently made changes to their positions in the stock. Assetmark Inc. raised its stake in Rowan Companies by 3,057.4% in the 4th quarter. Assetmark Inc. now owns 8,525 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 8,255 shares during the period. Teza Capital Management LLC bought a new stake in Rowan Companies in the 1st quarter valued at about $140,000. Ahrens Investment Partners LLC bought a new stake in Rowan Companies in the 1st quarter valued at about $162,000. Verition Fund Management LLC bought a new stake in Rowan Companies in the 1st quarter valued at about $170,000. Finally, Investors Research Corp bought a new stake in Rowan Companies in the 4th quarter valued at about $177,000. Institutional investors and hedge funds own 99.72% of the company’s stock.
A number of equities analysts have issued reports on the stock. ValuEngine raised shares of Rowan Companies from a “buy” rating to a “strong-buy” rating in a report on Friday. Citigroup lifted their price objective on shares of Rowan Companies from $13.00 to $16.00 and gave the stock a “neutral” rating in a report on Thursday. B. Riley set a $16.00 price objective on shares of Rowan Companies and gave the stock a “buy” rating in a report on Thursday, June 7th. Wells Fargo & Co upgraded Rowan Companies from a “market perform” rating to an “outperform” rating in a research note on Saturday, June 2nd. Finally, Bank of America upgraded Rowan Companies from an “underperform” rating to a “neutral” rating in a research note on Thursday, May 10th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $14.16.
Rowan Companies Company Profile
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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