Rowan Companies plc (RDC) has been under a strong bear grip, hence the stock is down -5.62% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.62% in the past 1 week. The stock has risen by 3.14% in the past week indicating that the buyers are active at lower levels, but the stock is down -1.5% in the past 4 weeks. The stock has recorded a 20-day Moving Average of 0.46% and the 50-Day Moving Average is 0.84%.
Rowan Companies plc (NYSE:RDC): The stock opened at $18.03 on Friday but the bulls could not build on the opening and the stock topped out at $18.05 for the day. The stock traded down to $17.72 during the day, due to lack of any buying support eventually closed down at $17.76 with a loss of -0.67% for the day. The stock had closed at $17.88 on the previous day. The total traded volume was 1,557,355 shares.
The company Insiders own 0.97% of Rowan Companies plc shares according to the proxy statements. In a related news, Sandvold Tore I, director of Rowan Companies Plc, executed a transaction worth $111,450 on May 19, 2015. A total of 5,000 shares were purchased at an average price of $22.29. The Insider information was divulged by the Securities and Exchange Commission in a Form 4 filing. The information is based on open market trades at the market prices.Option exercises are not covered.
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. It conducts offshore drilling operations in the United States Gulf of Mexico (US GOM), the United Kingdom (UK) and Norwegian sectors of the North Sea, the Middle East, West and North Africa, Southeast Asia and Trinidad. The Companys jack-ups are capable of drilling wells to depths ranging from 25,000 to 40,000 feet and in water depths ranging from 250 to 550 feet. Its ultra-deepwater drillships are capable of drilling wells to depths of 40,000 feet and in water depths of 12,000 feet. The Companys drilling contracts provide for a fixed amount of compensation per day, and are either well-to-well, multiple-well or fixed-term generally ranging from one month to several years.