QCM Cayman Ltd. bought a new position in Atwood Oceanics, Inc. (NYSE:ATW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 25,692 shares of the offshore driller’s stock, valued at approximately $209,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Arizona State Retirement System lifted its stake in Atwood Oceanics by 0.3% during the second quarter. Arizona State Retirement System now owns 39,100 shares of the offshore driller’s stock valued at $319,000 after purchasing an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Atwood Oceanics by 0.5% during the second quarter. PNC Financial Services Group Inc. now owns 35,243 shares of the offshore driller’s stock worth $287,000 after buying an additional 177 shares in the last quarter. Capstone Asset Management Co. boosted its holdings in Atwood Oceanics by 1.0% during the second quarter. Capstone Asset Management Co. now owns 35,449 shares of the offshore driller’s stock worth $289,000 after buying an additional 350 shares in the last quarter. Texas Permanent School Fund boosted its holdings in Atwood Oceanics by 0.9% during the second quarter. Texas Permanent School Fund now owns 54,672 shares of the offshore driller’s stock worth $446,000 after buying an additional 490 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted 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 buying an additional 1,030 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

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A number of brokerages have recently commented on ATW. ValuEngine downgraded Atwood Oceanics from a “buy” rating to a “hold” rating in a research report on Thursday. Jefferies Group LLC set a $10.00 price objective on Atwood Oceanics and gave the stock a “hold” rating in a research note on Monday, June 19th. Piper Jaffray Companies cut Atwood Oceanics from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $15.00 to $10.00 in a report on Monday, June 19th. Finally, Zacks Investment Research upgraded Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 target price on the stock in a report on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Atwood Oceanics has an average rating of “Hold” and an average price target of $11.67.

Shares of Atwood Oceanics, Inc. (NYSE ATW) traded down 4.15% during mid-day trading on Monday, hitting $9.00. The company had a trading volume of 2,494,467 shares. Atwood Oceanics, Inc. has a one year low of $5.91 and a one year high of $15.37. The firm’s 50-day moving average price is $7.02 and its 200 day moving average price is $8.21. The company has a market capitalization of $583.25 million, a P/E ratio of 2.20 and a beta of 2.46.

Atwood Oceanics (NYSE:ATW) last released its quarterly 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 company had revenue of $117.20 million during 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 business’s quarterly revenue was down 48.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.53 earnings per share. Analysts predict that Atwood Oceanics, Inc. will post ($0.51) earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Atwood Oceanics (NYSE:ATW)

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