Barclays PLC reiterated their hold rating on shares of Rowan Companies PLC (NYSE:RDC) in a research report released on Friday. Barclays PLC currently has a $14.00 price target on the oil and gas company’s stock.

A number of other equities research analysts have also issued reports on RDC. Jefferies Group LLC cut their price objective on shares of Rowan Companies PLC from $17.00 to $15.00 and set a hold rating for the company in a report on Wednesday, May 3rd. Nomura cut their price objective on shares of Rowan Companies PLC from $14.00 to $13.00 and set a neutral rating for the company in a report on Thursday. BMO Capital Markets reaffirmed a hold rating and set a $15.00 price objective on shares of Rowan Companies PLC in a report on Thursday, June 22nd. Seaport Global Securities lowered shares of Rowan Companies PLC from a neutral rating to a sell rating and cut their price objective for the company from $12.00 to $10.00 in a report on Wednesday, June 21st. Finally, TheStreet lowered shares of Rowan Companies PLC from a c rating to a d rating in a report on Wednesday, August 2nd. Four research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company. The stock has a consensus rating of Hold and an average target price of $16.37.

Rowan Companies PLC (RDC) traded down 2.314% during trading on Friday, hitting $11.185. 395,113 shares of the stock were exchanged. The company has a 50-day moving average price of $11.13 and a 200 day moving average price of $14.40. The firm’s market capitalization is $1.41 billion. Rowan Companies PLC has a 1-year low of $9.74 and a 1-year high of $21.68.

Rowan Companies PLC (NYSE:RDC) last released its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.30) by $0.05. The company had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm’s quarterly revenue was down 47.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.75 EPS. Equities analysts predict that Rowan Companies PLC will post ($0.89) earnings per share for the current fiscal year.

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Hedge funds have recently modified their holdings of the company. UBS Asset Management Americas Inc. increased its stake in shares of Rowan Companies PLC by 150.4% in the first quarter. UBS Asset Management Americas Inc. now owns 201,515 shares of the oil and gas company’s stock worth $3,140,000 after buying an additional 121,050 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Rowan Companies PLC by 2.3% in the first quarter. Louisiana State Employees Retirement System now owns 31,700 shares of the oil and gas company’s stock worth $494,000 after buying an additional 700 shares in the last quarter. Fox Run Management L.L.C. bought a new stake in shares of Rowan Companies PLC during the first quarter worth about $659,000. Principal Financial Group Inc. increased its stake in shares of Rowan Companies PLC by 3.4% in the first quarter. Principal Financial Group Inc. now owns 518,215 shares of the oil and gas company’s stock worth $8,074,000 after buying an additional 17,065 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased 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 worth $685,000 after buying an additional 600 shares in the last quarter.

About Rowan Companies PLC

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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