Rowan shares gained 9.65% to $33.99. Rowan said Thursday it has a meeting on April 16 to approve a corporate structure change. The board previously announced that it has a plan to move the company's corporate headquarters to the United Kingdom.
Rowan shares currently trade at a forward P/E of 8.79X; the average for oil equipment and services companies is 12.67X. For comparison, Helmerich & Payne (HP) has a higher forward P/E of 9.66X.Twenty-five of the 39 analysts who cover Rowan rate it at buy. Thirteen analysts give the stock a hold rating and one rates it sell. TheStreet Ratings gives Rowan a C+ grade and hold rating. The stock has risen 12.07% year to date.
Other top-performing S&P stocks on Thursday included:
- Alpha Natural Resources (ANR): The stock rose 9.91% Thursday to $16.08. The stock has fallen 21.29% year to date. TheStreet Ratings gives Alpha Natural Resources a D grade and sell rating.
- Peabody Energy (BTU): The stock increased 7.47% Thursday to $29.34. The stock has fallen 11.39% year to date. TheStreet Ratings gives Peabody Energy a C+ grade and hold rating.
- United States Steel (X): The stock rose 7.52% Thursday to $29.37. The stock has risen 10.96% year to date. TheStreet Ratings gives United States Steel a D+ grade and sell rating.
- Hewlett-Packard (HPQ): The stock increased 7.22% Thursday to $25.10. The stock has fallen 2.56% year to date. TheStreet Ratings gives Hewlett-Packard a C+ grade and hold rating.
- Cliffs Natural Resources (CLF): The stock rose 6.62% Thursday to $71.16. The stock has risen 14.13% year to date. TheStreet Ratings gives Cliffs Natural Resources a B- grade with a buy rating and $77.44 price target.
- Freeport McMoRan (FCX): The stock rose 5.9% Thursday to $37.89. The stock has increased 2.99% year to date. TheStreet Ratings gives Freeport McMoRan a B grade with a buy rating and $43.66 price target.
- Allegheny Technologies (ATI):The stock increased 5.46% Thursday to $41.37. The stock has fallen 13.45% year to date. TheStreet Ratings gives Allegheny Technologies a C+ grade and hold rating.
- Nabors Industries (NBR): The stock rose 5.11% Thursday to $16.98. The stock has fallen 2.1% year to date. TheStreet Ratings gives Nabors Industries a B- grade with a buy rating and $19.17 price target.
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