Jefferies Group LLC set a $10.00 target price on Atwood Oceanics, Inc. (NYSE:ATW) in a research note issued to investors on Monday morning. The firm currently has a hold rating on the offshore driller’s stock.
ATW has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Atwood Oceanics from a hold rating to a sell rating in a research note on Tuesday, April 11th. Barclays PLC reissued an underweight rating and issued a $7.00 price target (down from $11.00) on shares of Atwood Oceanics in a research note on Monday, May 1st. Scotiabank set a $12.00 price target on shares of Atwood Oceanics and gave the company a hold rating in a research note on Wednesday, March 22nd. Raymond James Financial, Inc. raised shares of Atwood Oceanics from an underperform rating to a market perform rating in a research note on Wednesday, May 31st. Finally, Clarkson Capital raised shares of Atwood Oceanics from a neutral rating to a buy rating and set a $12.00 price target on the stock in a research note on Friday, May 12th. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $11.81.
Shares of Atwood Oceanics (NYSE:ATW) traded down 4.43% during mid-day trading on Monday, hitting $8.62. 3,246,342 shares of the stock traded hands. Atwood Oceanics has a 12 month low of $6.12 and a 12 month high of $15.37. The firm has a 50 day moving average of $8.77 and a 200 day moving average of $10.42. The company has a market cap of $694.07 million, a P/E ratio of 6.97 and a beta of 2.31.
Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Monday, May 8th. The offshore driller reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.66. The firm had revenue of $167.71 million for the quarter, compared to analyst estimates of $130.51 million. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. Atwood Oceanics’s quarterly revenue was down 43.4% on a year-over-year basis. During the same period in the previous year, the business posted $1.89 earnings per share. Equities analysts anticipate that Atwood Oceanics will post ($0.30) EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently bought and sold shares of ATW. Everence Capital Management Inc. purchased a new position in Atwood Oceanics during the first quarter valued at approximately $104,000. Brandes Investment Partners LP purchased a new position in Atwood Oceanics during the first quarter valued at approximately $117,000. Bowling Portfolio Management LLC purchased a new position in Atwood Oceanics during the fourth quarter valued at approximately $136,000. Municipal Employees Retirement System of Michigan boosted its position in Atwood Oceanics by 20.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,640 shares of the offshore driller’s stock valued at $159,000 after buying an additional 2,880 shares during the period. Finally, Eqis Capital Management Inc. boosted its position in Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock valued at $163,000 after buying an additional 3,416 shares during the period. Institutional investors own 91.97% of the company’s stock.
Atwood Oceanics Company Profile
Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.
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