Rowan Companies plc (RDC) Receives ‘Analyst’ Rating

Rowan Companies plc (RDC) : Zacks Investment Research ranks Rowan Companies plc (RDC) as 3, which is a Hold recommendation. 4 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. A total of 12 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 18 research analysts is 2.67, which indicates as a Hold.

Rowan Companies plc (RDC) : The most positive equity analysts on Rowan Companies plc (RDC) expects the shares to touch $25, whereas, the least positive believes that the stock will trade at $12 in the short term. The company is covered by 15 Wall Street Brokerage Firms. The average price target for shares are $16.83 with an expected fluctuation of $3.61 from the mean.


Also, Citigroup maintains its view on Rowan Companies plc (NYSE:RDC) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Citigroup lowers the price target from $20 per share to $15 per share on Rowan Companies plc. The rating by the firm was issued on August 25, 2016.

Rowan Companies plc (NYSE:RDC): After opening at $12.58, the stock dipped to an intraday low of $12.38 on Thursday. However, the bulls stepped in to buy at lower levels and pushed the stock higher. The stock touched an intraday high of $12.83 and the buying power remained strong till the end. The stock closed at $12.7 for the day, a gain of 0.87% for the day session. The total traded volume was 4,038,098. The stocks close on the previous trading day was $12.59.

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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