ValuEngine upgraded shares of Atwood Oceanics, Inc. (NYSE:ATW) from a hold rating to a buy rating in a research note released on Monday.

A number of other research firms have also recently commented on ATW. Citigroup Inc. reaffirmed a neutral rating on shares of Atwood Oceanics in a research note on Thursday, August 31st. Raymond James Financial, Inc. raised Atwood Oceanics from an underperform rating to a market perform rating in a research note on Wednesday, May 31st. Piper Jaffray Companies set a $10.00 target price on Atwood Oceanics and gave the company a hold rating in a research note on Monday, August 21st. Zacks Investment Research raised Atwood Oceanics from a hold rating to a buy rating and set a $9.00 target price on the stock in a research note on Tuesday, July 18th. Finally, Wood & Company raised Atwood Oceanics from an underperform rating to a market perform rating in a research note on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $11.72.

Atwood Oceanics (NYSE ATW) opened at 8.04 on Monday. The company’s 50-day moving average price is $7.01 and its 200 day moving average price is $8.23. Atwood Oceanics has a 52-week low of $5.91 and a 52-week high of $15.37. The company’s market capitalization is $646.88 million.

Atwood Oceanics (NYSE:ATW) last issued its quarterly earnings data 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 business had revenue of $117.20 million for the quarter, compared to the consensus estimate of $125.89 million. During the same period in the prior year, the business posted $1.53 earnings per share. The company’s quarterly revenue was down 48.6% compared to the same quarter last year. On average, equities analysts expect that Atwood Oceanics will post ($0.51) EPS for the current fiscal year.

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A number of hedge funds have recently modified their holdings of ATW. Brandes Investment Partners LP purchased a new position in Atwood Oceanics in the 1st quarter worth $117,000. State of Alaska Department of Revenue raised its stake in Atwood Oceanics by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock worth $119,000 after acquiring an additional 6,400 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Atwood Oceanics in the 2nd quarter worth $133,000. Municipal Employees Retirement System of Michigan raised its stake in Atwood Oceanics by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock worth $144,000 after acquiring an additional 1,030 shares during the last quarter. Finally, Mason Street Advisors LLC raised its stake in Atwood Oceanics by 32.9% in the 1st quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock worth $167,000 after acquiring an additional 4,329 shares during the last quarter. Institutional investors own 91.97% of the company’s stock.

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.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

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