Atwood Oceanics Inc. (ATW) PT Set at $8.00 by Jefferies Group
Atwood Oceanics Inc. (NYSE:ATW) received a $8.00 target price from Jefferies Group in a research report issued on Wednesday. The brokerage currently has a a “hold” rating on the stock. Jefferies Group’s price objective would indicate a potential upside of 11.11% from the company’s current price.
Other equities analysts have also recently issued reports about the company. KLR Group raised Atwood Oceanics from an “accumulate” rating to a “buy” rating and set a $16.00 price objective on the stock in a research report on Tuesday, May 31st. Morgan Stanley set a $19.00 target price on shares of Atwood Oceanics and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Deutsche Bank AG boosted their target price on shares of Atwood Oceanics from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Vetr lowered shares of Atwood Oceanics from a “strong-buy” rating to a “buy” rating and set a $14.00 target price for the company. in a research note on Thursday, June 30th. Finally, Johnson Rice lowered shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Five research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $10.76.
Atwood Oceanics (NYSE:ATW) traded up 14.17% during midday trading on Wednesday, reaching $8.22. The company had a trading volume of 7,013,962 shares. The firm has a 50-day moving average price of $8.05 and a 200-day moving average price of $9.91. Atwood Oceanics has a 52 week low of $4.82 and a 52 week high of $19.65. The company has a market capitalization of $532.66 million, a price-to-earnings ratio of 1.30 and a beta of 2.23.
Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data 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 business had revenue of $227.80 million for the quarter, compared to analysts’ expectations of $232.74 million. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The firm’s quarterly revenue was down 31.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.73 EPS. Analysts expect that Atwood Oceanics will post $4.68 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of ATW. FMR LLC raised its position in shares of 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 period. Vanguard Group Inc. raised its position in shares of 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 period. BlackRock Fund Advisors raised its position in shares of 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 period. Key Group Holdings Cayman LTD. raised its position in shares of 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 period. Finally, State Street Corp raised its position in shares of 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 period.
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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