Rowan Companies (RDC) Given a $15.00 Price Target at Susquehanna Bancshares
Rowan Companies (NYSE:RDC) has been given a $15.00 price target by equities researchers at Susquehanna Bancshares in a research report issued to clients and investors on Friday. The brokerage currently has a “hold” rating on the oil and gas company’s stock. Susquehanna Bancshares’ target price indicates a potential downside of 12.64% from the stock’s previous close.
Other analysts have also recently issued reports about the stock. Piper Jaffray Companies cut shares of Rowan Companies from an “overweight” rating to a “neutral” rating and set a $18.00 price target on the stock. in a report on Thursday. B. Riley set a $16.00 target price on shares of Rowan Companies and gave the company a “buy” rating in a research note on Friday, January 5th. Zacks Investment Research lowered shares of Rowan Companies from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. initiated coverage on shares of Rowan Companies in a research note on Thursday, October 19th. They set a “buy” rating and a $16.80 target price for the company. Finally, ValuEngine lowered shares of Rowan Companies from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $16.54.
Shares of Rowan Companies (NYSE RDC) opened at $17.17 on Friday. The stock has a market cap of $2,167.76, a price-to-earnings ratio of -33.02 and a beta of 1.90. The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 0.47. Rowan Companies has a twelve month low of $9.02 and a twelve month high of $20.34.
Several institutional investors have recently added to or reduced their stakes in RDC. Sciencast Management LP grew its position in shares of Rowan Companies by 10.0% during the second quarter. Sciencast Management LP now owns 13,094 shares of the oil and gas company’s stock worth $134,000 after acquiring an additional 1,190 shares during the last quarter. Wedbush Securities Inc. bought a new position in shares of Rowan Companies during the third quarter worth about $135,000. Pacad Investment Ltd. bought a new position in shares of Rowan Companies during the second quarter worth about $138,000. Smith Salley & Associates bought a new position in shares of Rowan Companies during the third quarter worth about $146,000. Finally, Capital Fund Management S.A. bought a new position in shares of Rowan Companies during the second quarter worth about $161,000.
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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