Rowan Cos. (RDC) Earns “Buy” Rating from FBR & Co
“Production from EOG’s wells that started production in 3Q15 and 4Q15 and now have at least six months of production and revenue generation (i.e., the latest wells with such data available) spiked versus EOG’s own previous wells and versus peer wells. Lateral placement appears to be the key to the spike in production and revenue generation.”,” the firm’s analyst wrote.
A number of other equities analysts have also recently weighed in on the stock. Credit Suisse Group AG set a $15.00 price objective on shares of Rowan Cos. and gave the company a buy rating in a research report on Saturday, September 17th. Piper Jaffray Cos. decreased their price objective on shares of Rowan Cos. from $15.50 to $14.15 and set an overweight rating for the company in a research report on Friday, September 16th. Scotiabank began coverage on shares of Rowan Cos. in a research report on Wednesday, September 14th. They issued a sector perform rating and a $17.00 price objective for the company. Howard Weil began coverage on shares of Rowan Cos. in a research report on Wednesday, September 14th. They issued a sector perform rating and a $17.00 price objective for the company. Finally, Citigroup Inc. decreased their price objective on shares of Rowan Cos. from $20.00 to $15.00 and set a neutral rating for the company in a research report on Thursday, August 25th. Five investment analysts have rated the stock with a sell rating, seventeen have given a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $17.78.
Rowan Cos. (NYSE:RDC) opened at 13.49 on Monday. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of 7.54 and a beta of 1.61. The company’s 50 day moving average price is $13.41 and its 200-day moving average price is $16.09. Rowan Cos. has a 12-month low of $10.67 and a 12-month high of $21.83.
Rowan Cos. (NYSE:RDC) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.81 by $0.06. The firm earned $611.90 million during the quarter, compared to analysts’ expectations of $470.98 million. Rowan Cos. had a net margin of 10.24% and a return on equity of 9.22%. The business’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.68 earnings per share. On average, analysts forecast that Rowan Cos. will post $1.67 EPS for the current year.
A number of institutional investors have recently bought and sold shares of RDC. LS Investment Advisors LLC raised its position in Rowan Cos. by 75.6% in the second quarter. LS Investment Advisors LLC now owns 7,582 shares of the company’s stock worth $134,000 after buying an additional 3,265 shares in the last quarter. Tower Research Capital LLC TRC raised its position in Rowan Cos. by 91.3% in the second quarter. Tower Research Capital LLC TRC now owns 7,666 shares of the company’s stock worth $135,000 after buying an additional 3,658 shares in the last quarter. Rational Advisors LLC purchased a new position in Rowan Cos. during the second quarter worth approximately $143,000. Bank of Hawaii purchased a new position in Rowan Cos. during the second quarter worth approximately $179,000. Finally, Smith Asset Management Group LP purchased a new position in Rowan Cos. during the second quarter worth approximately $202,000.
Rowan Cos. 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. Its fleet consists of approximately 30 mobile offshore drilling units, including self-elevating jack-up rigs and ultra-deepwater drillships.
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