Credit Suisse Maintains a Hold Rating on Rowan Companies

By Jason Carr

Credit Suisse analyst Gregory Lewis maintained a Hold rating on Rowan Companies (NYSE: RDC) yesterday and set a price target of $21. The company’s shares closed yesterday at $14.26.

According to, Lewis is a 1-star analyst with an average return of -0.7% and a 45.9% success rate. Lewis covers the Services sector, focusing on stocks such as Dynagas LNG Partners LP , Navios Maritime Midstream, and Nordic American Offshore.

Rowan Companies has an analyst consensus of Hold.

Rowan Companies’ market cap is currently $1.79B and has a P/E ratio of 5.57. The company has a book value ratio of 0.3500.

Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RDC in relation to earlier this year. Most recently, in May 2015, Tore Sandvold, a Director at RDC bought 5,000 shares for a total of $111,450.

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Rowan Cos. Plc provides offshore contract drilling services to the international oil and gas industry. It focuses on high specification and premium jack-up rigs, which are used for exploratory and development drilling operations. The company operates through two segments: Deepwater, which consists of drillship operations, and Jack-Ups. Rowan was founded by Charles Rowan and Archibald Rowan in 1923 and is headquartered in Houston, TX.