Atwood Oceanics, Inc. (ATW) Receives “Neutral” Rating from Citigroup Inc.
Several other equities analysts have also issued reports on the stock. BidaskClub raised shares of Atwood Oceanics from a strong sell rating to a sell rating in a report on Friday, August 25th. Piper Jaffray Companies set a $10.00 price objective on shares of Atwood Oceanics and gave the stock a hold rating in a research note on Monday, August 21st. ValuEngine upgraded shares of Atwood Oceanics from a hold rating to a buy rating in a research note on Thursday, August 17th. Barclays PLC lowered their price objective on shares of Atwood Oceanics from $10.00 to $8.00 and set an underweight rating for the company in a research note on Friday, August 11th. Finally, TheStreet downgraded shares of Atwood Oceanics from a c- rating to a d+ rating in a research note on Monday, August 7th. Four investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $11.40.
Atwood Oceanics (NYSE ATW) traded up 5.78% during trading on Thursday, reaching $6.95. The company had a trading volume of 1,627,278 shares. Atwood Oceanics has a 12-month low of $5.91 and a 12-month high of $15.37. The stock’s market capitalization is $559.18 million. The stock has a 50 day moving average of $7.20 and a 200-day moving average of $8.50.
Atwood Oceanics (NYSE:ATW) last released 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 business had revenue of $117.20 million for the quarter, compared to analyst estimates of $125.89 million. During the same period in the previous year, the company earned $1.53 earnings per share. The business’s revenue for the quarter was down 48.6% on a year-over-year basis. On average, analysts forecast that Atwood Oceanics will post ($0.44) earnings per share for the current fiscal year.
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Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Atwood Oceanics by 45,068.1% in the first quarter. BlackRock Inc. now owns 9,573,385 shares of the offshore driller’s stock worth $91,235,000 after buying an additional 9,552,190 shares in the last quarter. CNH Partners LLC acquired a new stake in shares of Atwood Oceanics during the second quarter valued at about $27,399,000. Dimensional Fund Advisors LP boosted 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 buying an additional 2,188,009 shares in the last quarter. OxFORD Asset Management LLP boosted its stake in shares of Atwood Oceanics by 5,000.9% in the second quarter. OxFORD Asset Management LLP now owns 1,809,024 shares of the offshore driller’s stock valued at $14,744,000 after buying an additional 1,773,559 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Atwood Oceanics by 18.0% in the first quarter. FMR LLC now owns 11,470,032 shares of the offshore driller’s stock valued at $109,309,000 after buying an additional 1,750,720 shares in the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.
About Atwood Oceanics
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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