Rowan Companies plc (NYSE:RDC) : 4 brokerage houses believe that Rowan Companies plc (NYSE:RDC) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 11 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Rowan Companies plc (NYSE:RDC). Zacks Investment Research suggests a Hold with a rank of 3. 2 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock.The median of all the 18 Wall Street Analysts endorse the stock as a Hold with a rating of 2.61.
Rowan Companies plc (NYSE:RDC) : 15 Wall Street analysts covering Rowan Companies plc (NYSE:RDC) believe that the average level the stock could reach for the short term is $18.07. The maximum price target given is $25 and the minimum target for short term is around $12, hence the standard deviation is calculated at $3.56.
Company shares have received an average consensus rating of Hold for the current week Also, Bank of America reinstates its rating on Rowan Companies plc (NYSE:RDC). Analysts at the Bank of America have a current rating of Underperform on the shares. The rating by the firm was issued on June 13, 2016.
Rowan Companies plc (NYSE:RDC): stock turned positive on Tuesday. Though the stock opened at $17.51, the bulls momentum made the stock top out at $17.8 level for the day. The stock recorded a low of $17.17 and closed the trading day at $17.63, in the green by 3.95%. The total traded volume for the day was 1,986,151. The stock had closed at $16.96 in the previous days trading.
In an insider trading activity, Sandvold Tore I, director of Rowan Companies Plc, had purchased 5,000 shares on May 19, 2015. The total value of the transaction was $111,450. The information was disclosed with the SEC 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.