Atwood Oceanics, Inc. (ATW) Short Interest Update

Atwood Oceanics, Inc. (NYSE:ATW) saw a large increase in short interest during the month of June. As of June 30th, there was short interest totalling 30,444,069 shares, an increase of 33.1% from the June 15th total of 22,864,960 shares. Based on an average daily trading volume, of 6,372,163 shares, the days-to-cover ratio is presently 4.8 days. Approximately 40.1% of the shares of the company are sold short.

Shares of Atwood Oceanics (ATW) opened at 7.92 on Friday. The company’s 50 day moving average is $8.65 and its 200 day moving average is $9.70. Atwood Oceanics has a one year low of $6.12 and a one year high of $15.37. The company has a market capitalization of $637.71 million, a price-to-earnings ratio of 6.40 and a beta of 2.37.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings results on Monday, May 8th. The offshore driller reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.29) by $0.66. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The firm had revenue of $167.71 million for the quarter, compared to the consensus estimate of $130.51 million. During the same period in the prior year, the firm posted $1.89 earnings per share. The company’s revenue for the quarter was down 43.4% on a year-over-year basis. Equities research analysts predict that Atwood Oceanics will post ($0.27) earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Great West Life Assurance Co. Can boosted its position in Atwood Oceanics by 26.0% in the first quarter. Great West Life Assurance Co. Can now owns 100,337 shares of the offshore driller’s stock valued at $956,000 after buying an additional 20,697 shares during the period. Canada Pension Plan Investment Board boosted its position in Atwood Oceanics by 5.3% in the first quarter. Canada Pension Plan Investment Board now owns 501,200 shares of the offshore driller’s stock valued at $4,776,000 after buying an additional 25,200 shares during the period. Wells Fargo & Company MN boosted its position in Atwood Oceanics by 19.6% in the first quarter. Wells Fargo & Company MN now owns 906,017 shares of the offshore driller’s stock valued at $8,634,000 after buying an additional 148,563 shares during the period. James Investment Research Inc. bought a new position in Atwood Oceanics during the first quarter valued at $1,454,000. Finally, Nisa Investment Advisors LLC boosted its position in Atwood Oceanics by 6,233.3% in the first quarter. Nisa Investment Advisors LLC now owns 57,000 shares of the offshore driller’s stock valued at $543,000 after buying an additional 56,100 shares during the period.

A number of research firms have recently issued reports on ATW. Zacks Investment Research upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research note on Tuesday. Jefferies Group LLC set a $10.00 price target on shares of Atwood Oceanics and gave the stock a “hold” rating in a research report on Monday, June 19th. Piper Jaffray Companies lowered shares of Atwood Oceanics from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $15.00 to $10.00 in a research report on Monday, June 19th. Seaport Global Securities raised shares of Atwood Oceanics from a “sell” rating to a “neutral” rating in a research report on Friday, June 2nd. Finally, ValuEngine raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Atwood Oceanics has an average rating of “Hold” and an average target price of $11.68.

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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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