Rowan Cos. (RDC) Given Buy Rating at FBR & Co
“Production from EOG’s wells that started production in 3Q15 and 4Q15 and now have at least six months of production and revenue generation (i.e., the latest wells with such data available) spiked versus EOG’s own previous wells and versus peer wells. Lateral placement appears to be the key to the spike in production and revenue generation.”,” the firm’s analyst wrote.
Other analysts have also issued research reports about the stock. Jefferies Group restated a buy rating on shares of Rowan Cos. in a research report on Sunday, July 10th. Credit Suisse Group AG set a $15.00 price target on shares of Rowan Cos. and gave the company a buy rating in a research report on Saturday, September 17th. Scotiabank assumed coverage on shares of Rowan Cos. in a research report on Wednesday, September 14th. They set a sector perform rating and a $17.00 price target on the stock. Zacks Investment Research lowered shares of Rowan Cos. from a hold rating to a sell rating in a research report on Wednesday, July 13th. Finally, Citigroup Inc. restated a neutral rating on shares of Rowan Cos. in a research report on Wednesday, August 3rd. Five equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $17.78.
Shares of Rowan Cos. (NYSE:RDC) opened at 14.06 on Monday. The stock has a 50 day moving average of $13.41 and a 200-day moving average of $16.08. The company has a market capitalization of $1.76 billion, a P/E ratio of 7.85 and a beta of 1.61. Rowan Cos. has a 12-month low of $10.67 and a 12-month high of $21.83.
Rowan Cos. (NYSE:RDC) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.81 by $0.06. The business earned $611.90 million during the quarter, compared to analyst estimates of $470.98 million. Rowan Cos. had a return on equity of 9.22% and a net margin of 10.24%. The firm’s revenue was up 20.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.68 EPS. Equities research analysts forecast that Rowan Cos. will post $1.67 EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the stock. LS Investment Advisors LLC increased its stake in Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock valued at $134,000 after buying an additional 3,265 shares during the period. Tower Research Capital LLC TRC increased its stake in Rowan Cos. by 91.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,666 shares of the company’s stock valued at $135,000 after buying an additional 3,658 shares during the period. Rational Advisors LLC acquired a new stake in Rowan Cos. during the second quarter valued at approximately $143,000. Bank of Hawaii acquired a new stake in Rowan Cos. during the second quarter valued at approximately $179,000. Finally, Smith Asset Management Group LP acquired a new stake in Rowan Cos. during the second quarter valued at approximately $202,000.
Rowan Cos. 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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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