Raymond James Financial Inc. downgraded shares of Atwood Oceanics Inc. (NYSE:ATW) from a market perform rating to an underperform rating in a research note released on Wednesday.

A number of other equities research analysts also recently weighed in on ATW. Citigroup Inc. reissued a hold rating on shares of Atwood Oceanics in a report on Thursday, May 19th. KLR Group upgraded Atwood Oceanics from an accumulate rating to a buy rating and set a $16.00 price objective on the stock in a report on Tuesday, May 31st. Vetr upgraded Atwood Oceanics from a strong sell rating to a strong-buy rating and set a $14.00 price objective on the stock in a report on Tuesday, May 31st. Johnson Rice downgraded Atwood Oceanics from a buy rating to a hold rating in a report on Monday, June 13th. Finally, Wood & Company upgraded Atwood Oceanics to a strong-buy rating in a report on Thursday, July 7th. Six research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $10.76.

Atwood Oceanics (NYSE:ATW) opened at 6.52 on Wednesday. The firm’s 50-day moving average is $8.61 and its 200-day moving average is $10.03. Atwood Oceanics has a 12 month low of $4.82 and a 12 month high of $19.65. The firm has a market capitalization of $422.50 million, a PE ratio of 1.03 and a beta of 2.23.

Atwood Oceanics (NYSE:ATW) last issued its quarterly earnings results on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.63. Atwood Oceanics had a net margin of 34.45% and a return on equity of 13.79%. The company earned $227.80 million during the quarter, compared to the consensus estimate of $232.74 million. During the same period in the prior year, the company earned $1.73 EPS. Atwood Oceanics’s revenue was down 31.1% on a year-over-year basis. On average, equities research analysts expect that Atwood Oceanics will post $4.68 EPS for the current year.

Several large investors have recently bought and sold shares of the stock. Raymond James & Associates raised its position in shares of Atwood Oceanics by 0.4% in the second quarter. Raymond James & Associates now owns 11,621 shares of the company’s stock worth $145,000 after buying an additional 48 shares during the last quarter. Capstone Asset Management Co. raised its position in shares of Atwood Oceanics by 0.5% in the second quarter. Capstone Asset Management Co. now owns 29,989 shares of the company’s stock worth $375,000 after buying an additional 160 shares during the last quarter. Arizona State Retirement System raised its position in shares of Atwood Oceanics by 1.3% in the second quarter. Arizona State Retirement System now owns 30,300 shares of the company’s stock worth $379,000 after buying an additional 400 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in shares of Atwood Oceanics by 2.0% in the second quarter. State Board of Administration of Florida Retirement System now owns 45,788 shares of the company’s stock worth $573,000 after buying an additional 915 shares during the last quarter. Finally, Teacher Retirement System of Texas raised its position in shares of Atwood Oceanics by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 8,449 shares of the company’s stock worth $106,000 after buying an additional 1,049 shares during the last quarter.

Atwood Oceanics Company Profile

Atwood Oceanics, Inc is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The Company has a fleet of approximately 13 mobile offshore drilling units located around the world. The Company’s fleet includes Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups.

5 Day Chart for NYSE:ATW

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