Rowan Companies (NYSE:RDC) has been assigned a $17.00 price target by stock analysts at Piper Jaffray Companies in a report released on Wednesday. The brokerage presently has a “hold” rating on the oil and gas company’s stock. Piper Jaffray Companies’ target price points to a potential upside of 35.46% from the stock’s previous close.
Several other equities analysts have also issued reports on the company. DNB Markets upgraded Rowan Companies from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Wednesday. Barclays lowered Rowan Companies from an “equal weight” rating to an “underweight” rating and set a $10.00 price target on the stock. in a research report on Tuesday, January 23rd. Susquehanna Bancshares set a $15.00 price target on Rowan Companies and gave the stock a “hold” rating in a research report on Friday, January 12th. Cowen set a $14.00 price target on Rowan Companies and gave the stock a “hold” rating in a research report on Thursday, January 11th. Finally, B. Riley set a $16.00 price target on Rowan Companies and gave the stock a “buy” rating in a research report on Friday, January 5th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the stock. Rowan Companies currently has a consensus rating of “Hold” and an average target price of $15.60.
Rowan Companies (NYSE:RDC) opened at $12.55 on Wednesday. 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 has a 1 year low of $9.02 and a 1 year high of $18.97. The stock has a market capitalization of $1,549.13, a P/E ratio of -24.13 and a beta of 1.73.
Several hedge funds have recently modified their holdings of RDC. BlackRock Inc. lifted its stake in shares of Rowan Companies by 0.3% in the 4th quarter. BlackRock Inc. now owns 13,159,340 shares of the oil and gas company’s stock valued at $206,076,000 after purchasing an additional 37,449 shares during the period. State Street Corp lifted its stake in shares of Rowan Companies by 24.1% in the 2nd quarter. State Street Corp now owns 5,078,230 shares of the oil and gas company’s stock valued at $52,005,000 after purchasing an additional 986,257 shares during the period. Macquarie Group Ltd. lifted its stake in shares of Rowan Companies by 890.9% in the 4th quarter. Macquarie Group Ltd. now owns 2,846,804 shares of the oil and gas company’s stock valued at $44,581,000 after purchasing an additional 2,559,509 shares during the period. Schroder Investment Management Group lifted its stake in shares of Rowan Companies by 69.1% in the 4th quarter. Schroder Investment Management Group now owns 2,342,313 shares of the oil and gas company’s stock valued at $36,680,000 after purchasing an additional 957,120 shares during the period. Finally, Teachers Advisors LLC lifted its stake in shares of Rowan Companies by 11.6% in the 4th quarter. Teachers Advisors LLC now owns 1,745,264 shares of the oil and gas company’s stock valued at $27,331,000 after purchasing an additional 181,695 shares during the period.
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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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