|Bid||9.17 x 1300|
|Ask||9.18 x 1400|
|Day's Range||9.07 - 9.30|
|52 Week Range||9.05 - 21.68|
|PE Ratio (TTM)||5.66|
|Dividend & Yield||0.00 (0.00%)|
|1y Target Est||N/A|
Rowan's (RDC) job cut plan does not come as a surprise amid sluggish drilling businesses in the offshore fields where a number of rigs are being put out of work on loss of contracts.
Houston’s Rowan Companies PLC (RDC) told the Texas Workforce Commission it plans to cut 60 to 85 jobs on a rig in the Gulf of Mexico. The Rowan EXL III rig currently is working for Arena Offshore near Lake Charles, Louisiana, but that contract is expected to be complete by the end of September, according to a Worker Adjustment and Retraining Notification Act letter. Earlier this year, OffshoreEnergyToday.com reported that the EXL III started operations in mid-December for about six months of work for Arena.
Baker Hughes (BHI) reported that rigs fell by three, or 1.6%, to 189 rigs between July 28, 2017, and August 4, 2017.