Johnson Rice Upgrades Rowan (RDC) to Overweight; Shares Lower Amid Crude Oil Decline

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Shares of Rowan Companies (NYSE: RDC) are trading lower with the entire oil & gas group this afternoon despite an earlier upgrade from an analyst at Johnson Rice. At last check, the stock was down 2.75 percent to $37.52.

Johnson Rice lifted its investment rating on Rowan from Equalweight to Overweight.

Commodities have fallen sharply Wednesday: crude oil is down more than 5 percent to nearly under $98 per barrel, gasoline is down a whopping 8 percent and natural gas is down about 1 percent.

For more ratings news on Rowan Companies click here and for the rating history of Rowan Companies click here.

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