Rowan Companies (RDC) Upgraded to Buy by DNB Markets
DNB Markets upgraded shares of Rowan Companies (NYSE:RDC) from a hold rating to a buy rating in a report published on Wednesday morning, The Fly reports.
RDC has been the topic of a number of other reports. UBS Group set a $13.00 price target on Rowan Companies and gave the company a buy rating in a report on Thursday, December 20th. ValuEngine lowered Rowan Companies from a buy rating to a hold rating in a report on Wednesday, January 2nd. TheStreet lowered Rowan Companies from a c- rating to a d+ rating in a report on Friday, November 30th. Royal Bank of Canada raised Rowan Companies from a sector perform rating to an outperform rating in a report on Thursday, September 20th. Finally, Credit Suisse Group lowered Rowan Companies from an outperform rating to a neutral rating and lowered their target price for the stock from $20.00 to $10.00 in a report on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the company. Rowan Companies presently has a consensus rating of Hold and an average price target of $14.46.
Shares of RDC opened at $10.48 on Wednesday. The firm has a market cap of $1.35 billion, a PE ratio of -16.38 and a beta of 2.22. The company has a current ratio of 2.97, a quick ratio of 2.97 and a debt-to-equity ratio of 0.45. Rowan Companies has a one year low of $7.77 and a one year high of $20.87.
A number of large investors have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. acquired a new position in shares of Rowan Companies in the 2nd quarter valued at $162,000. Kentucky Retirement Systems acquired a new position in shares of Rowan Companies in the 3rd quarter valued at $363,000. Virtu Financial LLC acquired a new position in shares of Rowan Companies in the 3rd quarter valued at $218,000. PEAK6 Investments LLC acquired a new position in shares of Rowan Companies in the 3rd quarter valued at $235,000. Finally, Fox Run Management L.L.C. acquired a new position in shares of Rowan Companies in the 3rd quarter valued at $261,000. 99.06% of the stock is currently owned by hedge funds and other institutional investors.
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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