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NEW YORK (TheStreet) -- Rowan Cos.  (RDC) stock is up by 3.61% to $17.21 in mid-afternoon trading on Friday as oil prices climb.

Crude oil (WTI) is rising by 3.64% to $35.83 per barrel this morning and Brent crude is up by 4.02% to $38.56 per barrel, according to the index.

Oil prices are increasing after a strong U.S. jobs report on Friday, the Wall Street Journal reports. Higher employment supports energy consumption. 

"Employment data was strong, and that speaks to strong gasoline demand we've been seeing," AgainCapital founding partner John Kilduff told CNBC

Based in Houston, Rowan is a provider of international and domestic offshore oil and gas contract drilling services.

Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

TheStreet Recommends

TheStreet Ratings rates this stock as a "hold" with a ratings score of C-. The company's strengths can be seen in multiple areas, such as its impressive record of earnings per share growth, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we find that the stock has had a generally disappointing performance in the past year.

You can view the full analysis from the report here: RDC

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