Howard Weil assumed coverage on shares of Atwood Oceanics Inc. (NYSE:ATW) in a report issued on Wednesday. The brokerage issued a sector perform rating and a $8.50 price target on the stock.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

Several other analysts have also recently weighed in on ATW. Vetr raised Atwood Oceanics from a strong sell rating to a strong-buy rating and set a $14.00 price objective on the stock in a research report on Tuesday, May 31st. Jefferies Group set a $11.00 price objective on Atwood Oceanics and gave the company a hold rating in a research report on Wednesday, August 3rd. Deutsche Bank AG lifted their price objective on Atwood Oceanics from $11.00 to $15.00 and gave the company a buy rating in a research report on Wednesday, August 3rd. Citigroup Inc. reaffirmed a hold rating on shares of Atwood Oceanics in a research report on Thursday, May 19th. Finally, Johnson Rice cut Atwood Oceanics from a buy rating to a hold rating in a research report on Monday, June 13th. 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 given a strong buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $10.76.

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

Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings data on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.63. The business had revenue of $227.80 million for the quarter, compared to analysts’ expectations of $232.74 million. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The business’s revenue was down 31.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.73 EPS. Equities analysts predict that Atwood Oceanics will post $4.68 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Teacher Retirement System of Texas increased 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 valued at $106,000 after buying an additional 1,049 shares in the last quarter. Advisor Partners LLC bought a new position in Atwood Oceanics during the first quarter valued at approximately $115,000. Mason Street Advisors LLC bought a new position in Atwood Oceanics during the second quarter valued at approximately $143,000. Raymond James & Associates increased its position in Atwood Oceanics by 0.4% in the second quarter. Raymond James & Associates now owns 11,621 shares of the company’s stock valued at $145,000 after buying an additional 48 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Atwood Oceanics by 32.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,237 shares of the company’s stock valued at $166,000 after buying an additional 3,234 shares during the period.

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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