Rowan Companies (RDC) Given a $13.00 Price Target at Susquehanna Bancshares

Susquehanna Bancshares set a $13.00 price target on Rowan Companies (NYSE:RDC) in a research report sent to investors on Friday. The firm currently has a hold rating on the oil and gas company’s stock.

RDC has been the subject of a number of other reports. Cowen set a $14.00 target price on shares of Rowan Companies and gave the stock a hold rating in a report on Thursday, January 11th. Barclays lowered shares of Rowan Companies from an equal weight rating to an underweight rating and set a $10.00 target price for the company. in a report on Tuesday, January 23rd. Zacks Investment Research upgraded shares of Rowan Companies from a sell rating to a hold rating in a report on Monday, April 2nd. Piper Jaffray set a $15.00 target price on shares of Rowan Companies and gave the stock a hold rating in a report on Friday, March 16th. Finally, TheStreet upgraded shares of Rowan Companies from a d+ rating to a c rating in a report on Wednesday, February 28th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and an average price target of $14.75.

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Rowan Companies stock opened at $14.94 on Friday. The company has a quick ratio of 6.06, a current ratio of 6.06 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1,877.60, a PE ratio of -23.34 and a beta of 1.80. Rowan Companies has a 1-year low of $9.02 and a 1-year high of $17.33.

Rowan Companies (NYSE:RDC) last posted its earnings results on Wednesday, February 28th. The oil and gas company reported ($0.31) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.26) by ($0.05). The firm had revenue of $296.70 million for the quarter, compared to analysts’ expectations of $270.28 million. Rowan Companies had a negative return on equity of 1.52% and a net margin of 5.67%. The business’s revenue for the quarter was down 15.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. sell-side analysts predict that Rowan Companies will post -3.41 earnings per share for the current year.

In other Rowan Companies news, CFO Stephen M. Butz sold 3,671 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $12.99, for a total value of $47,686.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.60% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of RDC. New York State Common Retirement Fund lifted its holdings in shares of Rowan Companies by 17.8% during the third quarter. New York State Common Retirement Fund now owns 1,005,300 shares of the oil and gas company’s stock valued at $12,918,000 after purchasing an additional 151,958 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Rowan Companies by 8.6% during the third quarter. Ameriprise Financial Inc. now owns 939,383 shares of the oil and gas company’s stock valued at $12,071,000 after purchasing an additional 74,254 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Rowan Companies by 4.1% during the third quarter. Legal & General Group Plc now owns 219,764 shares of the oil and gas company’s stock valued at $2,821,000 after purchasing an additional 8,753 shares during the last quarter. Wells Fargo & Company MN lifted its holdings in shares of Rowan Companies by 160.5% during the third quarter. Wells Fargo & Company MN now owns 672,795 shares of the oil and gas company’s stock valued at $8,646,000 after purchasing an additional 414,545 shares during the last quarter. Finally, California Public Employees Retirement System lifted its holdings in shares of Rowan Companies by 98.6% during the third quarter. California Public Employees Retirement System now owns 691,616 shares of the oil and gas company’s stock valued at $8,887,000 after purchasing an additional 343,316 shares during the last quarter.

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About Rowan Companies

Rowan Companies plc provides offshore oil and gas contract drilling services to the oil and gas industry. The company operates through Deepwater, Jack-ups, and ARO segments. The Deepwater segment operates 4 ultra-deepwater drillships. The Jack-ups segment operates 23 self-elevating jack-up rigs. The ARO segment operates 5 self-elevating jack-up rigs.

Analyst Recommendations for Rowan Companies (NYSE:RDC)

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