RDC has been the topic of a number of other reports. TheStreet upgraded Rowan Companies from a d+ rating to a c rating in a report on Wednesday, February 28th. ValuEngine upgraded Rowan Companies from a sell rating to a hold rating in a report on Friday, December 1st. Jefferies Group set a $16.00 price target on Rowan Companies and gave the stock a hold rating in a report on Thursday, January 4th. Royal Bank of Canada set a $14.00 price target on Rowan Companies and gave the stock a hold rating in a report on Thursday, March 1st. Finally, Zacks Investment Research lowered Rowan Companies from a buy rating to a hold rating in a report on Friday, November 17th. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the company. Rowan Companies has a consensus rating of Hold and a consensus target price of $15.10.
Shares of Rowan Companies (RDC) traded up $0.56 during trading on Friday, reaching $12.38. The company had a trading volume of 3,482,414 shares, compared to its average volume of 3,100,451. The company has a market capitalization of $1,492.48, a price-to-earnings ratio of 22.11 and a beta of 1.81. Rowan Companies has a 1-year low of $9.02 and a 1-year high of $17.33. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.47.
In other news, CFO Stephen M. Butz sold 3,671 shares of Rowan Companies stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total value of $47,686.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.77% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in RDC. Assetmark Inc. grew its position in shares of Rowan Companies by 3,057.4% in the fourth quarter. Assetmark Inc. now owns 8,525 shares of the oil and gas company’s stock valued at $134,000 after purchasing an additional 8,255 shares in the last quarter. LMR Partners LLP purchased a new position in shares of Rowan Companies in the third quarter valued at $165,000. Investors Research Corp purchased a new position in shares of Rowan Companies in the fourth quarter valued at $177,000. Two Sigma Securities LLC purchased a new position in shares of Rowan Companies in the fourth quarter valued at $178,000. Finally, Virtu Financial LLC purchased a new position in shares of Rowan Companies in the fourth quarter valued at $184,000.
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.
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