Rowan Cos. (NYSE:RDC) shares were down 4.9% during trading on Tuesday . The stock traded as low as $14.21 and last traded at $14.22, with a volume of 1,138,669 shares trading hands. The stock had previously closed at $14.96.

Several research analysts recently commented on RDC shares. FBR & Co reissued a “buy” rating on shares of Rowan Cos. in a research report on Friday, April 22nd. Royal Bank Of Canada increased their price target on Rowan Cos. from $15.00 to $20.00 and gave the company a “sector perform” rating in a research report on Friday, April 22nd. Evercore ISI reissued a “buy” rating on shares of Rowan Cos. in a research report on Wednesday, June 29th. Johnson Rice raised Rowan Cos. from an “accumulate” rating to a “buy” rating in a research report on Monday, June 13th. Finally, Citigroup Inc. increased their price target on Rowan Cos. from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Monday, May 16th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $18.65.

The company has a 50-day moving average of $16.82 and a 200 day moving average of $15.94. The company has a market cap of $1.80 billion and a PE ratio of 8.03.

Rowan Cos. (NYSE:RDC) last posted its earnings results on Tuesday, August 2nd. The company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.81 by $0.06. The business earned $611.90 million during the quarter, compared to analysts’ expectations of $470.98 million. Rowan Cos.’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.68 EPS. On average, analysts anticipate that Rowan Cos. will post $1.92 earnings per share for the current fiscal year.

Several large investors recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in Rowan Cos. by 31.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,325,463 shares of the company’s stock valued at $141,115,000 after buying an additional 2,004,592 shares in the last quarter. Systematic Financial Management LP bought a new stake in Rowan Cos. during the fourth quarter valued at about $1,619,000. Morgan Stanley increased its stake in Rowan Cos. by 6.5% in the fourth quarter. Morgan Stanley now owns 1,067,600 shares of the company’s stock valued at $18,095,000 after buying an additional 64,912 shares in the last quarter. Liberty Mutual Group Asset Management Inc. increased its stake in Rowan Cos. by 50.5% in the fourth quarter. Liberty Mutual Group Asset Management Inc. now owns 79,874 shares of the company’s stock valued at $1,354,000 after buying an additional 26,818 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in Rowan Cos. by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 401,800 shares of the company’s stock valued at $6,810,000 after buying an additional 11,265 shares in the last quarter.

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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.

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