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Atwood Oceanics (NYSE:ATW) gapped up prior to trading on Friday after Cowen and Company raised their price target on the stock from $56.00 to $60.00, Analyst Ratings News reports. The stock had previously closed at $52.39, but opened at $52.48. Atwood Oceanics shares last traded at $53.32, with a volume of 286,302 shares traded.

A number of other analysts have also recently weighed in on ATW. Analysts at Deutsche Bank initiated coverage on shares of Atwood Oceanics in a research note on Thursday, June 12th. They set a “hold” rating and a $52.00 price target on the stock. Separately, analysts at Macquarie initiated coverage on shares of Atwood Oceanics in a research note on Wednesday, June 4th. They set a “neutral” rating and a $56.00 price target on the stock. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Atwood Oceanics in a research note on Monday, May 19th. They now have a $56.00 price target on the stock, down previously from $57.00. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have given a buy rating to the stock. Atwood Oceanics has a consensus rating of “Hold” and a consensus target price of $60.36.

The stock’s 50-day moving average is $49.2 and its 200-day moving average is $49.16. The company has a market cap of $3.428 billion and a price-to-earnings ratio of 9.82.

Atwood Oceanics (NYSE:ATW) last issued its quarterly earnings data on Wednesday, April 30th. The company reported $1.13 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.97 by $0.16. The company had revenue of $273.10 million for the quarter, compared to the consensus estimate of $282.08 million. Analysts expect that Atwood Oceanics will post $5.04 EPS for the current fiscal year.

Atwood Oceanics, Inc is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells.

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