Shares of Atwood Oceanics Inc. (NYSE:ATW) have earned an average rating of “Hold” from the thirty-one ratings firms that are currently covering the stock. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $11.05.
A number of brokerages have recently weighed in on ATW. Stephens restated an “overweight” rating and issued a $16.00 target price on shares of Atwood Oceanics in a research note on Monday, August 1st. Howard Weil began coverage on Atwood Oceanics in a research note on Wednesday, September 14th. They issued a “sector perform” rating and a $8.50 target price for the company. Citigroup Inc. lowered their target price on Atwood Oceanics from $12.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 25th. Clarkson Capital upgraded Atwood Oceanics from a “sell” rating to a “neutral” rating in a research note on Thursday, September 22nd. Finally, Morgan Stanley set a $19.00 target price on Atwood Oceanics and gave the company a “buy” rating in a research note on Wednesday, August 3rd.
Shares of Atwood Oceanics (NYSE:ATW) opened at 9.19 on Thursday. Atwood Oceanics has a 1-year low of $4.82 and a 1-year high of $19.65. The stock has a market capitalization of $595.51 million, a price-to-earnings ratio of 1.45 and a beta of 2.22. The firm’s 50-day moving average is $8.02 and its 200-day moving average is $9.89.
Atwood Oceanics (NYSE:ATW) last announced its earnings results on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.63. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The company earned $227.80 million during the quarter, compared to analyst estimates of $232.74 million. During the same period last year, the company posted $1.73 earnings per share. The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. On average, analysts predict that Atwood Oceanics will post $4.70 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors L.L.C. bought a new position in Atwood Oceanics during the first quarter valued at $1,510,000. Virginia Retirement System acquired a new position in Atwood Oceanics during the first quarter worth $411,000. Prudential Financial Inc. raised its position in Atwood Oceanics by 141.3% in the first quarter. Prudential Financial Inc. now owns 806,543 shares of the company’s stock worth $7,396,000 after buying an additional 472,341 shares during the last quarter. BlackRock Fund Advisors raised its position 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. Finally, Advisor Partners LLC acquired a new position in Atwood Oceanics during the first quarter worth $115,000.
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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