An issue of Atwood Oceanics, Inc. (NYSE:ATW) debt rose 1.6% against its face value during trading on Thursday. The debt issue has a 6.5% coupon and is set to mature on February 1, 2020. The bonds in the issue are now trading at $101.63 and were trading at $99.50 one week ago. Price changes in a company’s debt in credit markets often anticipate parallel changes in its share price.

A number of equities analysts have commented on the stock. Zacks Investment Research cut shares of Atwood Oceanics from a “hold” rating to a “sell” rating in a research note on Friday. Jefferies Group LLC set a $10.00 price objective on shares of Atwood Oceanics and gave the stock a “hold” rating in a research note on Thursday. ValuEngine cut shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Thursday, September 28th. Piper Jaffray Companies restated a “hold” rating and issued a $9.00 target price on shares of Atwood Oceanics in a report on Tuesday, September 19th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Atwood Oceanics in a report on Thursday, August 31st. Five analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $11.67.

Shares of Atwood Oceanics, Inc. (NYSE ATW) opened at 9.32 on Friday. Atwood Oceanics, Inc. has a 12-month low of $5.91 and a 12-month high of $15.37. The company’s market cap is $749.87 million. The stock has a 50 day moving average of $7.78 and a 200 day moving average of $8.20.

Atwood Oceanics (NYSE:ATW) last issued its earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The firm’s revenue was down 48.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.53 earnings per share. Analysts forecast that Atwood Oceanics, Inc. will post ($0.45) earnings per share for the current year.

A number of large investors have recently modified their holdings of ATW. State of Alaska Department of Revenue raised its holdings 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 valued at $119,000 after acquiring an additional 6,400 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Atwood Oceanics during the second quarter worth approximately $133,000. Municipal Employees Retirement System of Michigan raised its holdings in Atwood Oceanics by 6.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock worth $144,000 after purchasing an additional 1,030 shares in the last quarter. Mason Street Advisors LLC raised its holdings in Atwood Oceanics by 32.9% during the first quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock worth $167,000 after purchasing an additional 4,329 shares in the last quarter. Finally, Virtu Financial LLC acquired a new stake in Atwood Oceanics during the second quarter worth approximately $176,000. 91.97% of the stock is currently 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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