An issue of Atwood Oceanics, Inc. (NYSE:ATW) bonds fell 0.6% as a percentage of their face value during trading on Thursday. The high-yield debt issue has a 6.5% coupon and is set to mature on February 1, 2020. The debt is now trading at $97.88 and was trading at $96.81 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its share price.

Several research analysts recently weighed in on ATW shares. Barclays PLC decreased their target price on Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Friday, August 11th. Piper Jaffray Companies cut Atwood Oceanics from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $15.00 to $10.00 in a research note on Monday, June 19th. BidaskClub raised Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research raised Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Tuesday, July 25th. Finally, Wood & Company raised Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Four analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $11.40.

Shares of Atwood Oceanics, Inc. (NYSE ATW) traded down 3.38% during midday trading on Thursday, reaching $6.57. The company had a trading volume of 6,443,124 shares. Atwood Oceanics, Inc. has a 52-week low of $5.91 and a 52-week high of $15.37. The firm’s market cap is $528.61 million. The company’s 50-day moving average is $7.20 and its 200-day moving average is $8.50.

Atwood Oceanics (NYSE:ATW) last posted its earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) 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 firm had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. During the same period in the previous year, the firm earned $1.53 earnings per share. The company’s revenue was down 48.6% on a year-over-year basis. Equities research analysts expect that Atwood Oceanics, Inc. will post ($0.44) EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of ATW. Brandes Investment Partners LP acquired a new position in Atwood Oceanics during the first quarter worth about $117,000. State of Alaska Department of Revenue boosted its position in Atwood Oceanics by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock worth $119,000 after buying an additional 6,400 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Atwood Oceanics during the second quarter worth about $133,000. Municipal Employees Retirement System of Michigan boosted its position in Atwood Oceanics by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock worth $144,000 after buying an additional 1,030 shares during the last quarter. 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 worth $163,000 after buying an additional 3,416 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.

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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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