Atwood Oceanics Inc. (ATW) Stock Price Up 4.4% on Analyst Upgrade
Atwood Oceanics Inc. (NYSE:ATW) rose 4.4% on Wednesday after Jefferies Group raised their price target on the stock from $8.00 to $11.00. Jefferies Group currently has a hold rating on the stock. Atwood Oceanics traded as high as $7.71 and last traded at $7.52, with a volume of 3,488,242 shares trading hands. The stock had previously closed at $7.20.
Other equities research 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 for the company in a research note on Tuesday, May 31st. Morgan Stanley set a $19.00 target price on Atwood Oceanics and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Deutsche Bank AG boosted their target price on Atwood Oceanics from $11.00 to $15.00 and gave the stock a “buy” rating in a research note on Wednesday, August 3rd. Vetr cut 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 cut 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 assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $10.76.
Several large investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its stake in Atwood Oceanics by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 8,449 shares of the company’s stock worth $106,000 after buying an additional 1,049 shares in the last quarter. Advisor Partners LLC purchased a new stake in Atwood Oceanics during the first quarter worth $115,000. Mason Street Advisors LLC purchased a new stake in Atwood Oceanics during the second quarter worth $143,000. Raymond James & Associates boosted its stake in Atwood Oceanics by 0.4% in the second quarter. Raymond James & Associates now owns 11,621 shares of the company’s stock worth $145,000 after buying an additional 48 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Atwood Oceanics by 32.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,237 shares of the company’s stock worth $166,000 after buying an additional 3,234 shares in the last quarter.
The stock has a market cap of $488.92 million, a price-to-earnings ratio of 1.190 and a beta of 2.23. The firm has a 50 day moving average price of $8.05 and a 200-day moving average price of $9.91.
Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Monday, August 1st. The company reported $1.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.63. The business earned $227.80 million during the quarter, compared to the consensus estimate of $232.74 million. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The company’s revenue for the quarter was down 31.1% compared to the same quarter last year. During the same period last year, the firm earned $1.73 earnings per share. On average, equities analysts expect that Atwood Oceanics Inc. will post $4.68 earnings per share for the current year.
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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