Atwood Oceanics, Inc. (NYSE:ATW) was upgraded by Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating in a report issued on Tuesday.
A number of other research firms also recently weighed in on ATW. DNB Markets upgraded Atwood Oceanics from a “sell” rating to a “hold” rating in a research report on Friday. Clarkson Capital upgraded Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Friday, May 12th. Jefferies Group LLC set a $10.00 target price on Atwood Oceanics and gave the stock a “hold” rating in a research report on Wednesday, May 17th. Evercore ISI restated a “hold” rating and set a $10.00 target price on shares of Atwood Oceanics in a research report on Tuesday, February 7th. Finally, Piper Jaffray Companies set a $15.00 target price on Atwood Oceanics and gave the stock a “buy” rating in a research report on Tuesday, February 7th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $12.08.
Atwood Oceanics (NYSE:ATW) opened at 8.73 on Tuesday. The stock has a market capitalization of $702.93 million, a PE ratio of 7.06 and a beta of 2.26. Atwood Oceanics has a 1-year low of $6.12 and a 1-year high of $15.37. The stock’s 50 day moving average price is $8.27 and its 200 day moving average price is $10.24.
Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings results on Monday, May 8th. The offshore driller reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.66. The business had revenue of $167.71 million for the quarter, compared to analyst estimates of $130.51 million. Atwood Oceanics had a return on equity of 7.38% and a net margin of 27.10%. Atwood Oceanics’s quarterly revenue was down 43.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.89 EPS. Equities research analysts forecast that Atwood Oceanics will post ($0.38) earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. GLG Partners LP bought a new position in Atwood Oceanics during the fourth quarter worth about $1,020,000. A.R.T. Advisors LLC increased its position in Atwood Oceanics by 165.7% in the fourth quarter. A.R.T. Advisors LLC now owns 99,100 shares of the offshore driller’s stock worth $1,301,000 after buying an additional 61,800 shares during the period. New York State Teachers Retirement System increased its position in Atwood Oceanics by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 158,195 shares of the offshore driller’s stock worth $2,077,000 after buying an additional 900 shares during the period. Marshall Wace LLP increased its position in Atwood Oceanics by 116.3% in the fourth quarter. Marshall Wace LLP now owns 284,711 shares of the offshore driller’s stock worth $3,738,000 after buying an additional 153,070 shares during the period. Finally, Frontier Wealth Management LLC increased its position in Atwood Oceanics by 58.3% in the fourth quarter. Frontier Wealth Management LLC now owns 29,465 shares of the offshore driller’s stock worth $387,000 after buying an additional 10,851 shares during the period. 90.62% of the stock is owned by hedge funds and other institutional investors.
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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