B. Riley set a $16.00 target price on Rowan Companies (NYSE:RDC) in a research note published on Friday. The brokerage currently has a buy rating on the oil and gas company’s stock.

A number of other brokerages have also issued reports on RDC. Jefferies Group set a $16.00 price objective on shares of Rowan Companies and gave the company a hold rating in a report on Thursday, January 4th. ValuEngine raised shares of Rowan Companies from a sell rating to a hold rating in a report on Friday, December 1st. UBS Group upped their price objective on shares of Rowan Companies from $15.00 to $18.00 and gave the company a buy rating in a report on Monday, November 6th. Zacks Investment Research raised shares of Rowan Companies from a hold rating to a buy rating and set a $16.00 price objective for the company in a report on Tuesday, October 17th. Finally, BMO Capital Markets set a $12.00 price objective on shares of Rowan Companies and gave the company a hold rating in a report on Tuesday, October 17th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. Rowan Companies currently has an average rating of Hold and an average target price of $16.22.

Shares of Rowan Companies (RDC) traded down $0.05 on Friday, hitting $17.02. 3,639,900 shares of the company were exchanged, compared to its average volume of 2,699,080. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.80 and a quick ratio of 5.80. Rowan Companies has a 12-month low of $9.02 and a 12-month high of $20.50. The stock has a market capitalization of $2,120.00, a price-to-earnings ratio of -33.37 and a beta of 1.89.

Rowan Companies (NYSE:RDC) last announced its quarterly earnings data on Wednesday, November 1st. The oil and gas company reported ($0.16) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.26. Rowan Companies had a negative net margin of 4.76% and a negative return on equity of 0.61%. The firm had revenue of $291.60 million during the quarter, compared to analyst estimates of $281.51 million. During the same quarter in the prior year, the firm posted $0.30 earnings per share. Rowan Companies’s quarterly revenue was down 23.1% on a year-over-year basis. equities analysts anticipate that Rowan Companies will post -0.61 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC lifted its position in shares of Rowan Companies by 140.0% during the second quarter. FMR LLC now owns 1,640,662 shares of the oil and gas company’s stock worth $16,800,000 after purchasing an additional 957,047 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Rowan Companies by 26.7% during the second quarter. Rhumbline Advisers now owns 285,312 shares of the oil and gas company’s stock worth $2,922,000 after purchasing an additional 60,193 shares in the last quarter. Sterling Capital Management LLC acquired a new stake in shares of Rowan Companies during the second quarter worth about $922,000. Royal Bank of Canada lifted its position in shares of Rowan Companies by 296.6% during the second quarter. Royal Bank of Canada now owns 38,316 shares of the oil and gas company’s stock worth $392,000 after purchasing an additional 28,656 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its position in shares of Rowan Companies by 270.2% during the second quarter. Cubist Systematic Strategies LLC now owns 42,926 shares of the oil and gas company’s stock worth $440,000 after purchasing an additional 31,331 shares in the last quarter.

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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.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

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