Rowan Companies PLC (NYSE:RDC) had its price target cut by Stephens from $15.00 to $10.00 in a research note published on Thursday, StockTargetPrices.com reports.

Other hedge funds have recently bought and sold shares of the company. Saba Capital Management purchased a new stake in Rowan Companies PLC during the third quarter worth approximately $13,127,000. Acadian Asset Management purchased a new stake in Rowan Companies PLC during the fourth quarter worth approximately $759,000. Boston Advisors purchased a new stake in Rowan Companies PLC during the fourth quarter worth approximately $4,127,000. Finally, Cubic Asset Management LLC boosted its stake in Rowan Companies PLC by 10.7% in the fourth quarter. Cubic Asset Management LLC now owns 18,775 shares of the company’s stock worth $318,000 after buying an additional 1,810 shares during the period.

A number of other brokerages have also recently commented on RDC. Deutsche Bank reissued a hold rating on shares of Rowan Companies PLC in a report on Wednesday, November 4th. Zacks Investment Research raised Rowan Companies PLC from a hold rating to a buy rating and set a $23.00 target price for the company in a report on Thursday, November 5th. Jefferies Group reissued a buy rating and set a $26.00 target price (up previously from $25.00) on shares of Rowan Companies PLC in a report on Thursday, November 19th. Barclays increased their target price on Rowan Companies PLC from $17.00 to $19.00 in a report on Wednesday, November 4th. Finally, RBC Capital increased their target price on Rowan Companies PLC from $17.00 to $20.00 and gave the company a sector perform rating in a report on Wednesday, November 4th. Four analysts have rated the stock with a sell rating, fifteen have given a hold rating and eight have given a buy rating to the company’s stock. Rowan Companies PLC currently has a consensus rating of Hold and an average target price of $20.96.

Rowan Companies PLC (NYSE:RDC) traded up 2.92% during trading on Thursday, reaching $11.64. The company had a trading volume of 5,485,247 shares. Rowan Companies PLC has a 52 week low of $10.96 and a 52 week high of $25.13. The company’s 50-day moving average is $15.82 and its 200 day moving average is $17.68. The firm’s market capitalization is $1.45 billion.

Rowan Companies PLC (NYSE:RDC) last announced its earnings results on Tuesday, November 3rd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.37. During the same period in the previous year, the company earned $0.63 EPS. The firm had revenue of $545.40 million for the quarter, compared to analyst estimates of $520.09 million. Rowan Companies PLC’s revenue was up 16.6% compared to the same quarter last year. Equities analysts anticipate that Rowan Companies PLC will post $3.31 EPS for the current year.

Rowan Companies plc (NYSE:RDC) 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 Company’s 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 Company’s 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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