Rowan Companies (RDC) Given a $14.00 Price Target by Royal Bank of Canada Analysts
Rowan Companies (NYSE:RDC) received a $14.00 target price from analysts at Royal Bank of Canada in a research note issued to investors on Thursday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Royal Bank of Canada’s price objective would suggest a potential upside of 20.59% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. DNB Markets upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Wednesday, February 14th. B. Riley set a $16.00 price objective on shares of Rowan Companies and gave the stock a “buy” rating in a research report on Friday, January 5th. Zacks Investment Research upgraded shares of Rowan Companies from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Thursday, November 16th. UBS Group lifted their price objective on shares of Rowan Companies from $15.00 to $18.00 and gave the stock a “buy” rating in a research report on Monday, November 6th. Finally, Cowen set a $14.00 price objective on shares of Rowan Companies and gave the stock a “hold” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $15.32.
Rowan Companies (NYSE RDC) opened at $11.61 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.80. The stock has a market cap of $1,470.00, a P/E ratio of 7.69 and a beta of 1.81. Rowan Companies has a 12-month low of $9.02 and a 12-month high of $18.57.
In other Rowan Companies news, CFO Stephen M. Butz sold 3,671 shares of Rowan Companies stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $12.99, for a total transaction of $47,686.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.77% of the company’s stock.
Large investors have recently modified their holdings of the business. Assetmark Inc. boosted its stake 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. acquired a new stake in shares of Rowan Companies during the 3rd quarter valued at $135,000. Investors Research Corp acquired a new stake in shares of Rowan Companies during the 4th quarter valued at $177,000. Smith Salley & Associates acquired a new stake in shares of Rowan Companies during the 3rd quarter valued at $146,000. Finally, Two Sigma Securities LLC acquired a new stake in shares of Rowan Companies during the 4th quarter valued at $178,000.
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Rowan Companies 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.
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