Rowan Companies PLC (NYSE:RDC)’s share price fell 2% on Thursday . The stock traded as low as $13.27 and last traded at $13.01. 1,847,528 shares traded hands during trading, a decline of 31% from the average session volume of 2,696,149 shares. The stock had previously closed at $13.28.

Several research firms recently weighed in on RDC. Zacks Investment Research lowered shares of Rowan Companies from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Cowen set a $10.00 price target on shares of Rowan Companies and gave the company a “hold” rating in a research report on Wednesday, October 18th. ValuEngine upgraded shares of Rowan Companies from a “sell” rating to a “hold” rating in a research report on Friday, December 1st. assumed coverage on shares of Rowan Companies in a research report on Thursday, October 19th. They set a “buy” rating and a $16.80 price target for the company. Finally, Jefferies Group set a $16.00 target price on shares of Rowan Companies and gave the stock a “hold” rating in a research report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $16.32.

The stock has a market capitalization of $1,610.00, a price-to-earnings ratio of -25.08 and a beta of 1.73. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47.

Several institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Rowan Companies by 8.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 274,584 shares of the oil and gas company’s stock worth $4,301,000 after buying an additional 20,591 shares in the last quarter. New Mexico Educational Retirement Board purchased a new stake in shares of Rowan Companies in the fourth quarter worth about $440,000. Swiss National Bank lifted its holdings in shares of Rowan Companies by 3.1% in the fourth quarter. Swiss National Bank now owns 202,000 shares of the oil and gas company’s stock worth $3,163,000 after buying an additional 6,000 shares in the last quarter. California Public Employees Retirement System lifted its holdings in shares of Rowan Companies by 0.9% in the fourth quarter. California Public Employees Retirement System now owns 697,824 shares of the oil and gas company’s stock worth $10,928,000 after buying an additional 6,208 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Rowan Companies in the fourth quarter worth about $618,000.

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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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