Atwood Oceanics, Inc. (ATW) Given a $10.00 Price Target by Jefferies Group LLC Analysts
Atwood Oceanics, Inc. (NYSE:ATW) has been given a $10.00 price objective by investment analysts at Jefferies Group LLC in a research report issued on Thursday. The firm presently has a “hold” rating on the offshore driller’s stock. Jefferies Group LLC’s target price would indicate a potential upside of 7.30% from the company’s previous close.
ATW has been the subject of a number of other research reports. Citigroup Inc. reissued a “neutral” rating on shares of Atwood Oceanics in a research note on Thursday, August 31st. ValuEngine raised Atwood Oceanics from a “hold” rating to a “buy” rating in a research note on Monday, September 18th. Piper Jaffray Companies set a $10.00 price objective on Atwood Oceanics and gave the company a “hold” rating in a research note on Monday, August 21st. Zacks Investment Research raised Atwood Oceanics from a “hold” rating to a “buy” rating and set a $9.00 price objective for the company in a research note on Tuesday, July 18th. Finally, Barclays PLC reduced their price objective on Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Friday, August 11th. Five research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $11.67.
Shares of Atwood Oceanics (ATW) opened at 9.32 on Thursday. The firm has a 50-day moving average price of $7.78 and a 200 day moving average price of $8.20. Atwood Oceanics has a 1-year low of $5.91 and a 1-year high of $15.37. The company’s market cap is $749.87 million.
Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. The firm had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. During the same quarter last year, the firm posted $1.53 earnings per share. The company’s revenue for the quarter was down 48.6% compared to the same quarter last year. On average, equities analysts anticipate that Atwood Oceanics will post ($0.45) earnings per share for the current year.
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A number of institutional investors have recently modified their holdings of the stock. FMR LLC lifted its holdings in Atwood Oceanics by 2.7% during the second quarter. FMR LLC now owns 11,780,701 shares of the offshore driller’s stock worth $96,013,000 after acquiring an additional 310,669 shares during the period. BlackRock Inc. lifted its holdings in Atwood Oceanics by 45,068.1% during the first quarter. BlackRock Inc. now owns 9,573,385 shares of the offshore driller’s stock worth $91,235,000 after acquiring an additional 9,552,190 shares during the period. Vanguard Group Inc. lifted its holdings in Atwood Oceanics by 9.0% during the second quarter. Vanguard Group Inc. now owns 7,609,809 shares of the offshore driller’s stock worth $62,021,000 after acquiring an additional 626,931 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Atwood Oceanics by 40.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,416,265 shares of the offshore driller’s stock worth $52,294,000 after acquiring an additional 1,860,301 shares during the period. Finally, CNH Partners LLC bought a new stake in Atwood Oceanics during the second quarter worth $27,399,000. Institutional investors and hedge funds own 91.97% of the company’s stock.
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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