Royal Bank Of Canada upgraded shares of Rowan Companies PLC (NYSE:RDC) from an underperform rating to a sector perform rating in a report issued on Friday, MarketBeat reports. The brokerage currently has $14.00 price target on the oil and gas company’s stock, up from their previous price target of $13.50.

A number of other research analysts have also weighed in on RDC. Fearnley Fonds raised shares of Rowan Companies PLC to a buy rating in a report on Friday, April 28th. Barclays PLC cut their target price on shares of Rowan Companies PLC from $19.00 to $16.00 and set an equal weight rating for the company in a report on Monday, May 1st. Deutsche Bank AG cut their target price on shares of Rowan Companies PLC from $17.00 to $16.00 and set a hold rating for the company in a report on Wednesday, May 3rd. Jefferies Group LLC cut their target price 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. Finally, ValuEngine raised shares of Rowan Companies PLC from a hold rating to a buy rating in a report on Saturday, May 27th. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $16.40.

Shares of Rowan Companies PLC (NYSE RDC) opened at 9.47 on Friday. The stock’s 50 day moving average is $10.56 and its 200-day moving average is $13.36. Rowan Companies PLC has a one year low of $9.02 and a one year high of $21.68. The company’s market cap is $1.20 billion.

Rowan Companies PLC (NYSE:RDC) last posted its earnings results on Wednesday, August 2nd. The oil and gas company reported ($0.25) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.05. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. During the same period last year, the firm posted $0.75 earnings per share. Rowan Companies PLC’s revenue for the quarter was down 47.7% compared to the same quarter last year. Equities research analysts forecast that Rowan Companies PLC will post ($0.95) earnings per share for the current year.

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Several hedge funds have recently added to or reduced their stakes in RDC. Neuberger Berman Group LLC increased its stake in Rowan Companies PLC by 0.5% in the first quarter. Neuberger Berman Group LLC now owns 10,237 shares of the oil and gas company’s stock valued at $159,000 after buying an additional 55 shares during the last quarter. LS Investment Advisors LLC increased its stake in Rowan Companies PLC by 24.8% in the second quarter. LS Investment Advisors LLC now owns 10,330 shares of the oil and gas company’s stock valued at $106,000 after buying an additional 2,050 shares during the last quarter. Renaissance Group LLC purchased a new stake in Rowan Companies PLC during the first quarter valued at $163,000. Meeder Asset Management Inc. purchased a new stake in Rowan Companies PLC during the first quarter valued at $189,000. Finally, Parkwood LLC purchased a new stake in Rowan Companies PLC during the first quarter valued at $198,000.

Rowan Companies PLC 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. 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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