Atwood Oceanics Inc. (NYSE:ATW)’s share price was up 4.4% on Wednesday after Clarkson Capital upgraded the stock from a sell rating to a neutral rating. The company traded as high as $7.71 and last traded at $7.52, with a volume of 3,488,242 shares traded. The stock had previously closed at $7.20.
ATW has been the topic of a number of other research reports. Scotia Howard Weill started coverage on shares of Atwood Oceanics in a research note on Wednesday, September 14th. They set a “sector perform” rating and a $8.50 price target on the stock. Citigroup Inc. cut their target price on shares of Atwood Oceanics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 25th. Howard Weil started coverage on shares of Atwood Oceanics in a research note on Wednesday, September 14th. They issued a “sector perform” rating and a $8.50 target price on the stock. Raymond James Financial Inc. downgraded shares of Atwood Oceanics from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 14th. Finally, KLR Group raised shares of Atwood Oceanics from an “accumulate” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Tuesday, May 31st. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Atwood Oceanics currently has a consensus rating of “Hold” and an average price target of $10.64.
Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Atwood Oceanics by 1.8% in the second quarter. FMR LLC now owns 9,410,000 shares of the company’s stock worth $117,813,000 after buying an additional 165,000 shares during the last quarter. Vanguard Group Inc. increased its stake in Atwood Oceanics by 1.6% in the second quarter. Vanguard Group Inc. now owns 6,290,948 shares of the company’s stock worth $78,762,000 after buying an additional 99,998 shares during the last quarter. BlackRock Fund Advisors increased its stake in Atwood Oceanics by 27.6% in the first quarter. BlackRock Fund Advisors now owns 4,112,195 shares of the company’s stock worth $37,709,000 after buying an additional 890,165 shares during the last quarter. Key Group Holdings Cayman LTD. increased its stake in Atwood Oceanics by 91.7% in the second quarter. Key Group Holdings Cayman LTD. now owns 2,800,023 shares of the company’s stock worth $35,056,000 after buying an additional 1,339,490 shares during the last quarter. Finally, State Street Corp increased its stake in Atwood Oceanics by 2.0% in the second quarter. State Street Corp now owns 2,426,876 shares of the company’s stock worth $30,384,000 after buying an additional 47,139 shares during the last quarter.
The firm has a market cap of $532.01 million, a price-to-earnings ratio of 1.29 and a beta of 2.23. The company has a 50 day moving average price of $7.98 and a 200-day moving average price of $9.90.
Atwood Oceanics (NYSE:ATW) last issued its earnings results on Monday, August 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.63. The company had revenue of $227.80 million for the quarter, compared to analyst estimates of $232.74 million. Atwood Oceanics had a net margin of 34.45% and a return on equity of 13.79%. The company’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.73 EPS. Analysts predict that Atwood Oceanics Inc. will post $4.70 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.
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