Rowan Companies PLC (NYSE:RDC) was upgraded by equities research analysts at Seaport Global Securities from a “sell” rating to a “neutral” rating in a report released on Thursday, July 20th. The firm currently has a $11.00 price objective on the oil and gas company’s stock, up from their prior price objective of $10.00. Seaport Global Securities’ target price suggests a potential upside of 3.19% from the stock’s previous close.

RDC has been the subject of several other research reports. Credit Suisse Group reissued a “hold” rating and issued a $21.00 price target on shares of Rowan Companies PLC in a research report on Friday, April 21st. Jefferies Group LLC set a $15.00 price target on shares of Rowan Companies PLC and gave the stock a “hold” rating in a research report on Tuesday, June 6th. BidaskClub raised shares of Rowan Companies PLC from a “strong sell” rating to a “sell” rating in a research report on Tuesday, June 13th. Bank of America Corporation lowered shares of Rowan Companies PLC from a “neutral” rating to an “underperform” rating in a research report on Friday, June 30th. Finally, Barclays PLC dropped their price target on shares of Rowan Companies PLC from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Monday, May 1st. Four equities research analysts have rated the stock with a sell rating, fifteen have assigned 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 $16.37.

Rowan Companies PLC (RDC) opened at 10.66 on Thursday. The firm’s market capitalization is $1.35 billion. The company has a 50-day moving average price of $11.03 and a 200-day moving average price of $14.34. Rowan Companies PLC has a 1-year low of $9.74 and a 1-year high of $21.68.

Rowan Companies PLC (NYSE:RDC) last announced its quarterly earnings data on Wednesday, August 2nd. The oil and gas company reported ($0.25) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.30) by $0.05. The business had revenue of $320.20 million during the quarter, compared to analyst estimates of $296.87 million. Rowan Companies PLC had a negative net margin of 2.62% and a positive return on equity of 0.51%. The firm’s revenue for the quarter was down 47.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, equities research analysts predict that Rowan Companies PLC will post ($0.90) earnings per share for the current fiscal year.

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Several large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Rowan Companies PLC by 4,558.9% in the first quarter. BlackRock Inc. now owns 10,987,886 shares of the oil and gas company’s stock worth $171,191,000 after buying an additional 10,752,038 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Rowan Companies PLC by 4.7% in the first quarter. Dimensional Fund Advisors LP now owns 10,615,408 shares of the oil and gas company’s stock worth $165,387,000 after buying an additional 477,442 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Rowan Companies PLC by 19.5% in the first quarter. AQR Capital Management LLC now owns 5,702,609 shares of the oil and gas company’s stock worth $88,847,000 after buying an additional 931,612 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Rowan Companies PLC by 5.0% in the first quarter. Bank of New York Mellon Corp now owns 2,330,321 shares of the oil and gas company’s stock worth $36,306,000 after buying an additional 111,480 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Rowan Companies PLC by 42.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 2,027,910 shares of the oil and gas company’s stock worth $20,766,000 after buying an additional 602,479 shares during the last quarter.

About Rowan Companies PLC

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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