Atwood Oceanics, Inc. (NYSE:ATW) was the recipient of a significant drop in short interest in September. As of September 15th, there was short interest totalling 36,578,181 shares, a drop of 10.7% from the August 31st total of 40,968,960 shares. Based on an average daily volume of 3,958,698 shares, the short-interest ratio is presently 9.2 days. Approximately 48.2% of the shares of the stock are short sold.

Shares of Atwood Oceanics (NYSE:ATW) opened at 9.32 on Friday. The firm has a 50-day moving average of $7.78 and a 200 day moving average of $8.20. The company’s market cap is $749.87 million. Atwood Oceanics has a 52 week low of $5.91 and a 52 week high of $15.37.

Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. During the same quarter in the prior year, the company posted $1.53 EPS. The business’s revenue for the quarter was down 48.6% on a year-over-year basis. Equities analysts expect that Atwood Oceanics will post ($0.45) EPS for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. State of Alaska Department of Revenue grew its stake in shares of Atwood Oceanics by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock valued at $119,000 after buying an additional 6,400 shares during the period. Piedmont Investment Advisors LLC purchased a new position in shares of Atwood Oceanics during the 2nd quarter worth approximately $133,000. Municipal Employees Retirement System of Michigan boosted its position in shares of 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 worth $144,000 after purchasing an additional 1,030 shares during the period. Mason Street Advisors LLC boosted its position in shares of Atwood Oceanics by 32.9% during the 1st quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock worth $167,000 after purchasing an additional 4,329 shares during the period. Finally, Virtu Financial LLC purchased a new position in shares of Atwood Oceanics during the 2nd quarter worth approximately $176,000. 91.97% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently weighed in on the company. Jefferies Group LLC set a $10.00 price objective on Atwood Oceanics and gave the company a “hold” rating in a research report on Monday, June 19th. Zacks Investment Research lowered Atwood Oceanics from a “hold” rating to a “sell” rating in a research report on Friday. ValuEngine upgraded Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, July 28th. BidaskClub upgraded Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Finally, TheStreet lowered Atwood Oceanics from a “c-” rating to a “d+” rating in a research report on Monday, August 7th. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Atwood Oceanics presently has an average rating of “Hold” and a consensus target price of $11.67.

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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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