Rowan Companies PLC (NYSE:RDC) was the target of some unusual options trading activity on Thursday. Stock traders acquired 6,045 call options on the stock. This represents an increase of approximately 1,992% compared to the average volume of 289 call options.

Shares of Rowan Companies stock opened at $16.03 on Friday. The company has a quick ratio of 6.09, a current ratio of 6.09 and a debt-to-equity ratio of 0.48. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of -24.94 and a beta of 1.86. Rowan Companies has a 12 month low of $10.90 and a 12 month high of $17.33.

Rowan Companies (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 1st. The oil and gas company reported ($0.60) EPS for the quarter, beating the consensus estimate of ($0.93) by $0.33. The business had revenue of $241.30 million during the quarter, compared to analyst estimates of $207.71 million. Rowan Companies had a negative return on equity of 4.70% and a negative net margin of 9.41%. The company’s revenue for the quarter was down 24.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.25) earnings per share. sell-side analysts anticipate that Rowan Companies will post -3.55 EPS for the current year.

In related news, VP Richard Jason Anderson sold 6,000 shares of Rowan Companies stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $14.67, for a total value of $88,020.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 1.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. raised its position in shares of Rowan Companies by 0.6% in the 1st quarter. Principal Financial Group Inc. now owns 493,388 shares of the oil and gas company’s stock worth $5,694,000 after purchasing an additional 3,013 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Rowan Companies by 1.7% in the 1st quarter. Thrivent Financial for Lutherans now owns 216,308 shares of the oil and gas company’s stock worth $2,496,000 after purchasing an additional 3,582 shares during the last quarter. Riverhead Capital Management LLC raised its position in shares of Rowan Companies by 25.1% in the 2nd quarter. Riverhead Capital Management LLC now owns 18,931 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 3,800 shares during the last quarter. Legal & General Group Plc raised its position in shares of Rowan Companies by 2.0% in the 2nd quarter. Legal & General Group Plc now owns 200,963 shares of the oil and gas company’s stock worth $3,259,000 after purchasing an additional 3,867 shares during the last quarter. Finally, Meadow Creek Investment Management LLC raised its position in shares of Rowan Companies by 25.0% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 25,636 shares of the oil and gas company’s stock worth $416,000 after purchasing an additional 5,134 shares during the last quarter. 97.84% of the stock is owned by institutional investors and hedge funds.

RDC has been the topic of several recent analyst reports. Citigroup lifted their price target on shares of Rowan Companies from $13.00 to $16.00 and gave the company a “neutral” rating in a report on Thursday, June 21st. Piper Jaffray Companies reiterated a “hold” rating and issued a $16.00 price target on shares of Rowan Companies in a report on Friday, July 20th. B. Riley set a $16.00 price target on shares of Rowan Companies and gave the company a “buy” rating in a report on Thursday, June 7th. Barclays lifted their price target on shares of Rowan Companies from $10.00 to $11.00 and gave the company an “underweight” rating in a report on Thursday, August 9th. Finally, ValuEngine upgraded shares of Rowan Companies from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 7th. One analyst has rated the stock with a sell rating, ten have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.25.

Rowan Companies Company Profile

Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.

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