Rowan Companies PLC (NYSE:RDC) had its price objective decreased by Nomura from $14.00 to $13.00 in a research note issued on Thursday. The firm currently has a “neutral” rating on the oil and gas company’s stock. Nomura’s target price suggests a potential upside of 13.54% from the company’s current price.

A number of other equities research analysts have also recently commented on the company. ValuEngine upgraded Rowan Companies PLC from a “hold” rating to a “buy” rating in a research note on Saturday, May 27th. Clarkson Capital upgraded Rowan Companies PLC from a “neutral” rating to a “buy” rating and set a $20.00 price target for the company in a research note on Tuesday, May 30th. Deutsche Bank AG decreased their price target on Rowan Companies PLC from $17.00 to $16.00 and set a “hold” rating for the company in a research note on Wednesday, May 3rd. Fearnley Fonds upgraded Rowan Companies PLC to a “buy” rating in a research note on Friday, April 28th. Finally, BMO Capital Markets set a $15.00 price target on Rowan Companies PLC and gave the company a “hold” rating in a research note on Tuesday, April 18th. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.37.

Shares of Rowan Companies PLC (NYSE:RDC) traded down 1.80% during trading on Thursday, reaching $11.45. The company’s stock had a trading volume of 3,167,665 shares. The firm’s 50-day moving average is $11.13 and its 200-day moving average is $14.40. Rowan Companies PLC has a 12-month low of $9.74 and a 12-month high of $21.68. The stock’s market capitalization is $1.45 billion.

Rowan Companies PLC (NYSE:RDC) last released its quarterly earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Rowan Companies PLC had a positive return on equity of 0.51% and a negative net margin of 2.62%. The company had revenue of $320.20 million during the quarter, compared to analysts’ expectations of $296.87 million. During the same period last year, the business posted $0.75 earnings per share. The firm’s revenue was down 47.7% compared to the same quarter last year. Equities analysts expect that Rowan Companies PLC will post ($0.92) earnings per share for the current year.

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A number of hedge funds and other institutional investors have recently made changes to their positions in RDC. Wright Investors Service Inc. boosted its position in shares of Rowan Companies PLC by 31.8% in the first quarter. Wright Investors Service Inc. now owns 31,095 shares of the oil and gas company’s stock valued at $484,000 after buying an additional 7,495 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Rowan Companies PLC by 1.4% in the first quarter. Oregon Public Employees Retirement Fund now owns 43,948 shares of the oil and gas company’s stock valued at $685,000 after buying an additional 600 shares during the last quarter. Breton Hill Capital Ltd. raised its stake in shares of Rowan Companies PLC by 229.5% in the first quarter. Breton Hill Capital Ltd. now owns 51,530 shares of the oil and gas company’s stock valued at $803,000 after buying an additional 91,332 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management raised its stake in shares of Rowan Companies PLC by 0.7% in the first quarter. Livingston Group Asset Management CO operating as Southport Capital Management now owns 14,500 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 100 shares during the last quarter. Finally, First Quadrant L P CA raised its stake in shares of Rowan Companies PLC by 14.9% in the first quarter. First Quadrant L P CA now owns 1,614,517 shares of the oil and gas company’s stock valued at $25,154,000 after buying an additional 208,802 shares during the last quarter.

Rowan Companies PLC 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.

Analyst Recommendations for Rowan Companies PLC (NYSE:RDC)

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