Atwood Oceanics Inc. (ATW) Given Consensus Rating of “Hold” by Analysts
Shares of Atwood Oceanics Inc. (NYSE:ATW) have earned an average recommendation of “Hold” from the thirty-one brokerages that are currently covering the stock. Five research analysts have rated the stock with a sell recommendation, fifteen have issued a hold recommendation, eight have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $11.05.
Several equities analysts have weighed in on ATW shares. Vetr cut Atwood Oceanics from a “strong-buy” rating to a “buy” rating and set a $14.00 price objective for the company. in a report on Thursday, June 30th. Wood & Company raised Atwood Oceanics to a “strong-buy” rating in a report on Thursday, July 7th. Citigroup Inc. dropped their price objective on Atwood Oceanics from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Stephens reaffirmed an “overweight” rating and issued a $16.00 price objective on shares of Atwood Oceanics in a report on Monday, August 1st. Finally, Deutsche Bank AG lifted their price objective on Atwood Oceanics from $11.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd.
Several hedge funds have recently modified their holdings of the company. Panagora Asset Management Inc. raised its position in shares of Atwood Oceanics by 34.8% in the first quarter. Panagora Asset Management Inc. now owns 692,747 shares of the company’s stock valued at $6,352,000 after buying an additional 178,815 shares during the period. Foundry Partners LLC purchased a new position in shares of Atwood Oceanics during the second quarter valued at $3,385,000. Robotti Robert raised its position in shares of Atwood Oceanics by 91.6% in the first quarter. Robotti Robert now owns 756,858 shares of the company’s stock valued at $6,941,000 after buying an additional 361,761 shares during the period. Jacobs Levy Equity Management Inc. purchased a new position in shares of Atwood Oceanics during the first quarter valued at $1,829,000. Finally, Canada Pension Plan Investment Board raised its position in shares of Atwood Oceanics by 1,871.1% in the first quarter. Canada Pension Plan Investment Board now owns 293,700 shares of the company’s stock valued at $2,693,000 after buying an additional 278,800 shares during the period.
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Atwood Oceanics (NYSE:ATW) traded down 1.63% on Thursday, reaching $9.07. The company’s stock had a trading volume of 1,798,575 shares. The company has a 50-day moving average price of $7.94 and a 200 day moving average price of $9.88. Atwood Oceanics has a 12 month low of $4.82 and a 12 month high of $19.65. The company has a market cap of $587.74 million, a P/E ratio of 1.43 and a beta of 2.23.
Atwood Oceanics (NYSE:ATW) last released its quarterly earnings results on Monday, August 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.63. The business earned $227.80 million during the quarter, compared to the consensus estimate of $232.74 million. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The firm’s quarterly revenue was down 31.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities research analysts anticipate that Atwood Oceanics will post $4.70 EPS for the current fiscal year.
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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