Shares of Atwood Oceanics Inc. (NYSE:ATW) rose 4% during trading on Wednesday . The company traded as high as $6.90 and last traded at $6.74, with a volume of 3,024,451 shares trading hands. The stock had previously closed at $6.48.

ATW has been the topic of a number of recent research reports. Raymond James Financial Inc. lowered Atwood Oceanics from a “market perform” rating to an “underperform” rating in a research note on Wednesday, September 14th. Deutsche Bank AG lifted their price target on Atwood Oceanics from $11.00 to $15.00 and gave the company a “buy” rating in a research note on Wednesday, August 3rd. Wood & Company raised Atwood Oceanics to a “strong-buy” rating in a research note on Thursday, July 7th. Jefferies Group set a $11.00 price target on Atwood Oceanics and gave the company a “hold” rating in a research note on Wednesday, August 3rd. Finally, Scotia Howard Weill initiated coverage on Atwood Oceanics in a research note on Wednesday, September 14th. They set a “sector perform” rating and a $8.50 price target on the stock. Six analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $10.76.

The firm has a 50-day moving average of $8.51 and a 200-day moving average of $10.00. The firm has a market cap of $442.26 million, a price-to-earnings ratio of 1.076 and a beta of 2.23.

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Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.63. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The business earned $227.80 million during the quarter, compared to analysts’ expectations of $232.74 million. During the same quarter last year, the business posted $1.73 EPS. The business’s revenue was down 31.1% on a year-over-year basis. Equities analysts expect that Atwood Oceanics Inc. will post $4.68 EPS for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its position in Atwood Oceanics by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 8,449 shares of the company’s stock worth $106,000 after buying an additional 1,049 shares during the last quarter. Mason Street Advisors LLC purchased a new position in Atwood Oceanics during the second quarter worth approximately $143,000. Raymond James & Associates boosted its position in Atwood Oceanics by 0.4% in the second quarter. Raymond James & Associates now owns 11,621 shares of the company’s stock worth $145,000 after buying an additional 48 shares during the last quarter. Advisor Partners LLC purchased a new position in Atwood Oceanics during the first quarter worth approximately $115,000. Finally, Public Employees Retirement System of Ohio boosted its position in Atwood Oceanics by 32.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,237 shares of the company’s stock worth $166,000 after buying an additional 3,234 shares during the last quarter.

Atwood Oceanics Company Profile

Atwood Oceanics, Inc is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The Company has a fleet of approximately 13 mobile offshore drilling units located around the world. The Company’s fleet includes Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups.

5 Day Chart for NYSE:ATW

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