Atwood Oceanics, Inc. (NYSE:ATW) has received an average rating of “Hold” from the twenty-six analysts that are covering the firm, MarketBeat.com reports. Five investment analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $11.70.
Several analysts have issued reports on ATW shares. Barclays PLC dropped their price target on shares of Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Friday, August 11th. Piper Jaffray Companies set a $10.00 price target on shares of Atwood Oceanics and gave the stock a “hold” rating in a research report on Monday, August 21st. BidaskClub raised shares of Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. ValuEngine lowered shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research report on Wednesday, September 6th. Finally, Zacks Investment Research raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 price target on the stock in a research report on Tuesday, July 25th.
Large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC acquired a new position in shares of Atwood Oceanics in the second quarter valued at $176,000. Marshall Wace North America L.P. grew its stake in shares of Atwood Oceanics by 255.5% in the second quarter. Marshall Wace North America L.P. now owns 850,711 shares of the offshore driller’s stock valued at $6,806,000 after acquiring an additional 611,392 shares in the last quarter. Kassirer Asset Management Corp acquired a new position in shares of Atwood Oceanics in the second quarter valued at about $1,223,000. Dimensional Fund Advisors LP grew its stake in shares of Atwood Oceanics by 92.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,555,964 shares of the offshore driller’s stock valued at $43,418,000 after acquiring an additional 2,188,009 shares in the last quarter. Finally, Chicago Capital Management LLC acquired a new position in shares of Atwood Oceanics in the second quarter valued at about $1,793,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $125.89 million. During the same period in the prior year, the firm posted $1.53 earnings per share. The company’s quarterly revenue was down 48.6% compared to the same quarter last year.
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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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