Equities research analysts at BTIG Research initiated coverage on shares of Rowan Companies (NYSE:RDC) in a report issued on Monday, The Fly reports. The brokerage set a “hold” rating on the oil and gas company’s stock.

Other equities research analysts have also recently issued reports about the stock. B. Riley set a $20.00 price objective on shares of Rowan Companies and gave the company a “buy” rating in a research report on Monday, August 13th. ValuEngine cut shares of Rowan Companies from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, June 13th. Tudor Pickering raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Thursday, July 12th. Societe Generale raised shares of Rowan Companies from a “hold” rating to a “buy” rating in a research report on Thursday, August 2nd. Finally, Citigroup raised shares of Rowan Companies from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $15.00 to $19.00 in a research report on Friday, September 7th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Rowan Companies presently has a consensus rating of “Hold” and a consensus target price of $15.25.

RDC traded down $0.20 during trading on Monday, hitting $15.69. The company had a trading volume of 1,959,815 shares, compared to its average volume of 2,705,845. The stock has a market capitalization of $2.03 billion, a P/E ratio of -24.52 and a beta of 1.86. Rowan Companies has a one year low of $10.94 and a one year high of $17.33. The company has a current ratio of 6.09, a quick ratio of 6.09 and a debt-to-equity ratio of 0.48.

Rowan Companies (NYSE:RDC) last posted 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 for the quarter, compared to analysts’ expectations of $207.71 million. Rowan Companies had a negative net margin of 9.41% and a negative return on equity of 4.70%. The firm’s revenue was down 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.25) EPS. equities research analysts predict that Rowan Companies will post -3.55 EPS for the current fiscal year.

In other Rowan Companies 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Rowan Companies by 0.6% during 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 increased its stake in shares of Rowan Companies by 1.7% during 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 increased its stake in shares of Rowan Companies by 25.1% during 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 increased its stake in shares of Rowan Companies by 2.0% during 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 increased its stake in shares of Rowan Companies by 25.0% during 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. Institutional investors own 97.84% of the company’s stock.

About Rowan Companies

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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Analyst Recommendations for Rowan Companies (NYSE:RDC)

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