Atwood Oceanics, Inc. (NYSE:ATW) was downgraded by equities research analysts at Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday.

ATW has been the topic of several other reports. Raymond James Financial, Inc. raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Seaport Global Securities raised shares of Atwood Oceanics from a “sell” rating to a “neutral” rating in a research report on Friday, June 2nd. Wood & Company raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. ValuEngine raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Barclays PLC reissued an “underweight” rating and issued a $10.00 target price (up from $7.00) on shares of Atwood Oceanics in a research report on Wednesday, May 31st. Four analysts have rated the stock with a sell rating, seventeen have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Atwood Oceanics has an average rating of “Hold” and an average target price of $12.06.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

Atwood Oceanics (NYSE ATW) traded down 0.33% during midday trading on Monday, hitting $8.98. 573,387 shares of the stock traded hands. Atwood Oceanics has a one year low of $6.12 and a one year high of $15.37. The company has a market cap of $723.06 million, a PE ratio of 7.26 and a beta of 2.31. The company’s 50-day moving average is $8.74 and its 200-day moving average is $10.41.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Monday, May 8th. The offshore driller reported $0.37 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.29) by $0.66. The company had revenue of $167.71 million for the quarter, compared to analysts’ expectations of $130.51 million. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The business’s revenue was down 43.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS. Equities research analysts expect that Atwood Oceanics will post ($0.33) EPS for the current fiscal year.

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A number of hedge funds have recently bought and sold shares of ATW. New York State Teachers Retirement System boosted its stake in Atwood Oceanics by 0.6% in the fourth quarter. New York State Teachers Retirement System now owns 158,195 shares of the offshore driller’s stock worth $2,077,000 after buying an additional 900 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Atwood Oceanics by 6.0% in the first quarter. Public Employees Retirement System of Ohio now owns 19,583 shares of the offshore driller’s stock worth $187,000 after buying an additional 1,104 shares during the last quarter. Capstone Asset Management Co. boosted its stake in Atwood Oceanics by 3.8% in the first quarter. Capstone Asset Management Co. now owns 35,099 shares of the offshore driller’s stock worth $334,000 after buying an additional 1,270 shares during the last quarter. Mutual of America Capital Management LLC boosted its stake in Atwood Oceanics by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 242,108 shares of the offshore driller’s stock worth $2,307,000 after buying an additional 1,803 shares during the last quarter. Finally, Ingalls & Snyder LLC boosted its stake in Atwood Oceanics by 7.9% in the first quarter. Ingalls & Snyder LLC now owns 30,125 shares of the offshore driller’s stock worth $287,000 after buying an additional 2,200 shares during the last quarter. 91.97% of the stock is owned by institutional investors and hedge funds.

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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