Shares of Rowan Companies plc (RDC) Sees Large Inflow of Net Money Flow

Rowan Companies plc (RDC) : Investors lapped up stocks on upticks to the tune of $12.39 million in the Fridays trading session. The trading value on downticks was comparatively at $9.99 million and the uptick to downtick ratio of 1.24 indicates continuous buying by the bulls. The net money flow into the stock was $2.4 million. The block trades were dominated by the bulls with a healthy 1.87, uptick to downtick ratio. Only $3.31 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $6.19 clearly indicating buying by large investors. The total money flow for block trades stood at $2.88 million, which is a positive for the stock in the long-term. Rowan Companies plc (RDC) fell $0.79 during the day at $16.04, a drop of -4.69% over the previous days close. However, for the week, the stock is -9.68%, compared to the previous week.


Rowan Companies plc (RDC) : 16 investment research analysts covering Rowan Companies plc (RDC) have an average price target of $18.39 for the near short term. The highest target price given by the Brokerage Firm to the stock is $25 and the lowest target is $12 for the short term. Analysts expect the variance to be within $3.42 of the average price.

Rowan Companies plc (NYSE:RDC): On Fridays trading session , Opening price of the stock was $16.88 with an intraday high of $16.915. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $15.92. However, the stock managed to close at $16.04, a loss of 4.69% for the day. On the previous day, the stock had closed at $16.83. The total traded volume of the day was 3,583,881 shares.

In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Rowan Companies Plc, Sandvold Tore I, had purchased 5,000 shares in a transaction dated on May 19, 2015. The transaction was executed at $22.29 per share with total amount equaling $111,450.

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.

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