Very Favorable Press Coverage Likely to Affect Atwood Oceanics (ATW) Stock Price

Media coverage about Atwood Oceanics (NYSE:ATW) has trended very positive this week, Accern Sentiment reports. The research firm scores the sentiment of news coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Atwood Oceanics earned a media sentiment score of 0.53 on Accern’s scale. Accern also assigned media stories about the offshore driller an impact score of 66 out of 100, meaning that recent news coverage is likely to have an impact on the stock’s share price in the near future.

These are some of the headlines that may have impacted Accern Sentiment’s analysis:

Insider Buying and Selling by Quarter for Atwood Oceanics (NYSE:ATW)

A number of research firms have weighed in on ATW. ValuEngine upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Seaport Global Securities raised shares of Atwood Oceanics from a “sell” rating to a “neutral” rating in a research note on Friday, June 2nd. Raymond James Financial, Inc. raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Barclays PLC reaffirmed an “underweight” rating and issued a $10.00 price objective (up from $7.00) on shares of Atwood Oceanics in a research note on Wednesday, May 31st. Finally, Wood & Company raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Four investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $11.81.

Atwood Oceanics (NYSE:ATW) traded down 5.99% during midday trading on Tuesday, reaching $8.48. The company had a trading volume of 6,238,351 shares. The firm has a market capitalization of $682.80 million, a PE ratio of 6.86 and a beta of 2.31. The firm’s 50-day moving average price is $8.77 and its 200 day moving average price is $10.42. Atwood Oceanics has a 12 month low of $6.12 and a 12 month high of $15.37.

Atwood Oceanics (NYSE:ATW) last released its earnings results on Monday, May 8th. The offshore driller reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.66. Atwood Oceanics had a return on equity of 4.35% and a net margin of 11.40%. The company had revenue of $167.71 million for the quarter, compared to the consensus estimate of $130.51 million. During the same quarter last year, the business posted $1.89 EPS. Atwood Oceanics’s quarterly revenue was down 43.4% compared to the same quarter last year. Equities analysts anticipate that Atwood Oceanics will post ($0.30) earnings per share for the current fiscal year.

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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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