Rowan Companies (NYSE:RDC) has been given a $14.00 price target by investment analysts at Cowen in a note issued to investors on Thursday. The firm presently has a “hold” rating on the oil and gas company’s stock. Cowen’s price target suggests a potential downside of 18.46% from the stock’s previous close.
RDC has been the subject of a number of other reports. Zacks Investment Research raised shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a report on Tuesday, October 17th. B. Riley reissued a “buy” rating on shares of Rowan Companies in a report on Wednesday, November 1st. UBS Group raised shares of Rowan Companies from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $11.00 to $15.00 in a report on Monday, September 25th. FBR & Co reissued a “buy” rating on shares of Rowan Companies in a report on Thursday, October 19th. Finally, Jefferies Group reissued a “hold” rating and set a $15.00 price objective on shares of Rowan Companies in a report on Friday, November 3rd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $16.54.
Shares of Rowan Companies (NYSE RDC) opened at $17.17 on Thursday. The firm has a market cap of $2,170.00, a price-to-earnings ratio of -33.67 and a beta of 1.89. Rowan Companies has a fifty-two week low of $9.02 and a fifty-two week high of $20.34. The company has a current ratio of 5.80, a quick ratio of 5.80 and a debt-to-equity ratio of 0.47.
Rowan Companies (NYSE:RDC) last released its quarterly earnings results on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.26. The business had revenue of $291.60 million during the quarter, compared to analyst estimates of $281.51 million. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. The business’s revenue was down 23.1% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. equities analysts anticipate that Rowan Companies will post -0.61 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. GSA Capital Partners LLP boosted its holdings in shares of Rowan Companies by 53.6% in the 3rd quarter. GSA Capital Partners LLP now owns 30,484 shares of the oil and gas company’s stock valued at $392,000 after buying an additional 10,635 shares during the period. California Public Employees Retirement System boosted its holdings in shares of Rowan Companies by 98.6% in the 3rd 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 during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Rowan Companies by 297.3% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 170,525 shares of the oil and gas company’s stock valued at $2,191,000 after buying an additional 127,599 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Rowan Companies by 160.5% in the 3rd quarter. Wells Fargo & Company MN now owns 672,795 shares of the oil and gas company’s stock valued at $8,646,000 after buying an additional 414,545 shares during the period. Finally, Trexquant Investment LP acquired a new position in shares of Rowan Companies in the 3rd quarter valued at about $1,448,000.
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About Rowan Companies
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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