Atwood Oceanics, Inc. (NYSE:ATW) shares gapped up prior to trading on Monday . The stock had previously closed at $7.85, but opened at $8.11. Atwood Oceanics shares last traded at $8.93, with a volume of 8,266,122 shares traded.

ATW has been the topic of a number of analyst reports. Raymond James Financial, Inc. raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Wood & Company raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Barclays PLC reaffirmed an “underweight” rating and issued a $10.00 price objective (up previously from $7.00) on shares of Atwood Oceanics in a research report on Wednesday, May 31st. ValuEngine raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Seaport Global Securities raised shares of Atwood Oceanics from a “sell” rating to a “neutral” rating in a research report on Friday, June 2nd. Four investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $11.67.

The company’s 50 day moving average is $7.02 and its 200-day moving average is $8.21. The firm’s market cap is $718.49 million.

Atwood Oceanics (NYSE:ATW) last announced its earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.01. The business had revenue of $117.20 million for the quarter, compared to analyst estimates of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The company’s revenue for the quarter was down 48.6% compared to the same quarter last year. During the same period last year, the firm posted $1.53 earnings per share. On average, analysts predict that Atwood Oceanics, Inc. will post ($0.51) earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. Arizona State Retirement System grew its position in Atwood Oceanics by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 39,100 shares of the offshore driller’s stock valued at $319,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Atwood Oceanics by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 35,243 shares of the offshore driller’s stock valued at $287,000 after buying an additional 177 shares during the last quarter. Capstone Asset Management Co. grew its position in Atwood Oceanics by 1.0% in the 2nd quarter. Capstone Asset Management Co. now owns 35,449 shares of the offshore driller’s stock valued at $289,000 after buying an additional 350 shares during the last quarter. Texas Permanent School Fund grew its position in Atwood Oceanics by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 54,672 shares of the offshore driller’s stock valued at $446,000 after buying an additional 490 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan grew its position in Atwood Oceanics by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock valued at $144,000 after buying an additional 1,030 shares during the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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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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