Atwood Oceanics, Inc. (ATW) Upgraded to “Neutral” by Goldman Sachs Group Inc
Atwood Oceanics, Inc. (NYSE:ATW) was upgraded by Goldman Sachs Group Inc from a “sell” rating to a “neutral” rating in a research note issued to investors on Tuesday.
A number of other research analysts have also commented on the stock. Zacks Investment Research lowered shares of Atwood Oceanics from a “hold” rating to a “sell” rating in a research report on Monday, April 17th. Jefferies Group LLC set a $11.00 price target on shares of Atwood Oceanics and gave the company a “hold” rating in a research report on Wednesday, March 22nd. Scotiabank set a $12.00 target price on shares of Atwood Oceanics and gave the stock a “hold” rating in a research report on Wednesday, March 22nd. Wood & Company upgraded shares of Atwood Oceanics from an “accumulate” rating to a “buy” rating in a research report on Friday, April 28th. Finally, Barclays PLC reiterated an “underweight” rating and issued a $7.00 target price (down from $11.00) on shares of Atwood Oceanics in a research report on Monday, May 1st. Five research analysts have rated the stock with a sell rating, fourteen have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $12.08.
Shares of Atwood Oceanics (NYSE:ATW) opened at 8.73 on Tuesday. The company’s 50-day moving average price is $8.27 and its 200-day moving average price is $10.24. The firm has a market cap of $702.93 million, a P/E ratio of 7.06 and a beta of 2.26. Atwood Oceanics has a 12 month low of $6.12 and a 12 month high of $15.37.
Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Monday, May 8th. The offshore driller reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.66. Atwood Oceanics had a net margin of 27.10% and a return on equity of 7.38%. The business had revenue of $167.71 million during the quarter, compared to analyst estimates of $130.51 million. During the same period in the previous year, the business earned $1.89 EPS. Atwood Oceanics’s revenue was down 43.4% compared to the same quarter last year. On average, analysts predict that Atwood Oceanics will post ($0.38) EPS for the current year.
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A number of large investors have recently made changes to their positions in ATW. BlackRock Fund Advisors boosted its stake in shares of Atwood Oceanics by 9.5% in the third quarter. BlackRock Fund Advisors now owns 4,501,437 shares of the offshore driller’s stock worth $39,117,000 after buying an additional 388,686 shares during the period. Hartford Investment Management Co. purchased a new stake in Atwood Oceanics during the third quarter worth approximately $232,000. Jane Street Group LLC purchased a new stake in Atwood Oceanics during the third quarter worth approximately $616,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Atwood Oceanics by 91.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 428,600 shares of the offshore driller’s stock worth $3,725,000 after buying an additional 205,025 shares during the last quarter. Finally, Comerica Bank boosted its stake in Atwood Oceanics by 6.0% in the fourth quarter. Comerica Bank now owns 64,024 shares of the offshore driller’s stock worth $887,000 after buying an additional 3,619 shares during the last quarter. Institutional investors and hedge funds own 90.62% of the company’s stock.
About Atwood Oceanics
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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