Atwood Oceanics, Inc. (NYSE:ATW)’s share price gapped down prior to trading on Monday . The stock had previously closed at $9.61, but opened at $9.39. Atwood Oceanics shares last traded at $9.16, with a volume of 6,775,033 shares trading hands.

ATW has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a research report on Wednesday, July 12th. ValuEngine upgraded shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. TheStreet cut Atwood Oceanics from a “c-” rating to a “d+” rating in a research note on Monday, August 7th. Piper Jaffray Companies set a $10.00 price target on Atwood Oceanics and gave the company a “hold” rating in a research note on Monday, August 21st. Finally, Jefferies Group LLC set a $10.00 price target on Atwood Oceanics and gave the company a “hold” rating in a research note on Monday, June 19th. Four investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $11.67.

The firm has a market capitalization of $600.09 million, a price-to-earnings ratio of 2.26 and a beta of 2.47. The firm has a 50 day moving average price of $7.52 and a 200 day moving average price of $8.18.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The firm’s revenue for the quarter was down 48.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.53 EPS. Analysts anticipate that Atwood Oceanics, Inc. will post ($0.51) EPS for the current year.

Several institutional investors have recently bought and sold shares of ATW. State of Alaska Department of Revenue grew its stake in shares of Atwood Oceanics by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock worth $119,000 after purchasing an additional 6,400 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Atwood Oceanics during the 2nd quarter valued at about $133,000. Municipal Employees Retirement System of Michigan increased its holdings in Atwood Oceanics by 6.2% during 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 purchasing an additional 1,030 shares during the period. Mason Street Advisors LLC increased its holdings in Atwood Oceanics by 32.9% during the 1st quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock valued at $167,000 after purchasing an additional 4,329 shares during the period. Finally, Virtu Financial LLC purchased a new position in Atwood Oceanics during the 2nd quarter valued at about $176,000. Institutional investors own 91.97% of the company’s stock.

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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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