Atwood Oceanics, Inc. (NYSE:ATW)‘s stock had its “hold” rating reiterated by stock analysts at Piper Jaffray Companies in a research note issued on Tuesday. They currently have a $9.00 target price on the offshore driller’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 4.05% from the stock’s previous close.
Several other equities research analysts also recently weighed in on the company. ValuEngine raised Atwood Oceanics from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Zacks Investment Research raised Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a report on Wednesday, July 12th. Barclays PLC reissued an “underweight” rating and issued a $10.00 price target (up previously from $7.00) on shares of Atwood Oceanics in a report on Wednesday, May 31st. Citigroup Inc. reissued a “neutral” rating on shares of Atwood Oceanics in a report on Thursday, August 31st. Finally, TheStreet downgraded Atwood Oceanics from a “c-” rating to a “d+” rating in a report on Monday, August 7th. Four research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $11.67.
Atwood Oceanics (NYSE ATW) opened at 8.65 on Tuesday. The company has a 50-day moving average of $7.02 and a 200-day moving average of $8.21. The company’s market cap is $695.96 million. Atwood Oceanics has a 52 week low of $5.91 and a 52 week high of $15.37.
Atwood Oceanics (NYSE:ATW) last issued its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.01. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. The company had revenue of $117.20 million for the quarter, compared to the consensus estimate of $125.89 million. During the same quarter last year, the company earned $1.53 earnings per share. The firm’s revenue for the quarter was down 48.6% compared to the same quarter last year. On average, equities analysts expect that Atwood Oceanics will post ($0.51) EPS for the current year.
A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its position in Atwood Oceanics by 2.7% during the second quarter. FMR LLC now owns 11,780,701 shares of the offshore driller’s stock valued at $96,013,000 after acquiring an additional 310,669 shares in the last quarter. BlackRock Inc. raised its position in Atwood Oceanics by 45,068.1% during the first quarter. BlackRock Inc. now owns 9,573,385 shares of the offshore driller’s stock valued at $91,235,000 after acquiring an additional 9,552,190 shares in the last quarter. Vanguard Group Inc. raised its position in Atwood Oceanics by 9.0% during the second quarter. Vanguard Group Inc. now owns 7,609,809 shares of the offshore driller’s stock valued at $62,021,000 after acquiring an additional 626,931 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Atwood Oceanics by 40.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,416,265 shares of the offshore driller’s stock valued at $52,294,000 after acquiring an additional 1,860,301 shares in the last quarter. Finally, CNH Partners LLC purchased a new position in Atwood Oceanics during the second quarter valued at approximately $27,399,000. Institutional investors own 91.97% of the company’s stock.
About Atwood Oceanics
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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