Rowan Companies Inc (NYSE:RDC) Stock Target Raised
In analysts report revealed to investors and clients by Deutsche Bank on 28 September, Rowan Companies Inc (NYSE:RDC) had its PT increased to $21.00. The firm now has “Hold” rating on the stock.
In spite of the target raise, NYSE:RDC is right now trading -1.42% lower at $15.98 as of 13:20 New York time. Rowan Companies Inc. shares have decreased -21.95% in the last 200 days, while the S&P500 has decreased -6.24% during the same time.
According to data compiled by Thomson Reuters, Rowan Companies Inc (NYSE:RDC)’s stock is covered by 29 equity analysts across the Street, with 5 analysts giving it a Sell rating, 14 a Buy rating, while 16 consider it a Hold. The 12-month consensus target price for the stock is $21.02, which reflects an upside potential of 31.54% over the current price.
Institutional Ownership
Blue Harbour Group L.P. had the biggest stake with ownership of 9.99 million shares as of q2 2015 for 6.16% of the US long stock exposure. Arosa Capital Management Lp is another bull as the investment professional who is having 1.34 million shares of Rowan Companies Inc. or 4.96% of their US long stock exposure. Also, Poplar Forest Capital Llc have 2.86% of their US long stock exposure invested in the company for 1.84M shares. The New York-based fund Wcg Management L.P. disclosed it had bought a stake worth about 2.75% of the investment professional’s stock portfolio in Rowan Companies Inc.. The United Kingdom-based fund Kiltearn Partners Llp is also positive about the stock, possessing 300,000 shares or 1.14% of their US long stock exposure.
Rowan Companies Inc (NYSE:RDC) Profile
Rowan Companies plc (Rowan) is a provider of international and domestic offshore oil and gas contract drilling services. Its operation broadly consists of Drilling Fleet and Contracts. It has a fleet of 30 self-elevating mobile offshore jack-up drilling units and four ultra-deepwater drillships.
Rowan Companies Inc (NYSE:RDC) traded down -1.42% on 28 September, hitting $15.98. A total of 944,973 shares of the company’s stock traded hands. This is down from average of 2.68M shares. Rowan Companies Inc. has a 52 week low of $14.63 and a 52 week high of $26.2. The company has a market cap of $2.01 billion and a P/E ratio of 0.
