Rowan Companies (RDC) Given a $12.00 Price Target at Susquehanna Bancshares
A number of other brokerages have also issued reports on RDC. B. Riley set a $16.00 price target on Rowan Companies and gave the stock a buy rating in a research note on Friday, January 5th. Cowen set a $14.00 price target on Rowan Companies and gave the stock a hold rating in a research note on Thursday, January 11th. Jefferies Group set a $16.00 price objective on Rowan Companies and gave the company a hold rating in a research note on Thursday, January 4th. Piper Jaffray Companies lowered Rowan Companies from an overweight rating to a neutral rating and set a $18.00 price objective on the stock. in a research note on Thursday, January 11th. Finally, Barclays lowered Rowan Companies from an equal weight rating to an underweight rating and set a $10.00 price objective on the stock. in a research note on Tuesday, January 23rd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $15.32.
Shares of Rowan Companies (RDC) opened at $11.61 on Thursday. The company has a quick ratio of 5.80, a current ratio of 6.06 and a debt-to-equity ratio of 0.47. Rowan Companies has a 52 week low of $9.02 and a 52 week high of $18.30. The stock has a market capitalization of $1,470.00, a PE ratio of 7.69 and a beta of 1.81.
In related news, CFO Stephen M. Butz sold 3,671 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $12.99, for a total transaction of $47,686.29. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.77% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Assetmark Inc. raised its holdings in shares of Rowan Companies by 3,057.4% during the 4th quarter. Assetmark Inc. now owns 8,525 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 8,255 shares during the period. Wedbush Securities Inc. purchased a new stake in shares of Rowan Companies during the 3rd quarter valued at about $135,000. Investors Research Corp purchased a new stake in shares of Rowan Companies during the 4th quarter valued at about $177,000. Smith Salley & Associates purchased a new stake in shares of Rowan Companies during the 3rd quarter valued at about $146,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of Rowan Companies during the 4th quarter valued at about $178,000.
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About Rowan Companies
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.
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