Atwood Oceanics, Inc. (NYSE:ATW) has been assigned a $10.00 target price by stock analysts at Jefferies Group LLC in a research note issued to investors on Monday. The brokerage presently has a “hold” rating on the offshore driller’s stock. Jefferies Group LLC’s target price indicates a potential upside of 10.99% from the company’s previous close.

ATW has been the subject of several other research reports. Zacks Investment Research cut shares of Atwood Oceanics from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Barclays PLC reaffirmed an “underweight” rating and set a $7.00 price objective (down previously from $11.00) on shares of Atwood Oceanics in a research note on Monday, May 1st. Scotiabank set a $12.00 price objective on shares of Atwood Oceanics and gave the company a “hold” rating in a research note on Wednesday, March 22nd. Raymond James Financial, Inc. raised shares of Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Finally, Clarkson Capital raised shares of Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Friday, May 12th. Four analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Atwood Oceanics has an average rating of “Hold” and an average price target of $11.81.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

Shares of Atwood Oceanics (NYSE:ATW) traded up 0.67% on Monday, hitting $9.07. The stock had a trading volume of 5,014,886 shares. Atwood Oceanics has a 12 month low of $6.12 and a 12 month high of $15.37. The firm’s 50-day moving average price is $8.74 and its 200 day moving average price is $10.41. The firm has a market cap of $730.31 million, a P/E ratio of 7.33 and a beta of 2.31.

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, beating the consensus estimate of ($0.29) by $0.66. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The company had revenue of $167.71 million during the quarter, compared to analysts’ expectations of $130.51 million. During the same quarter in the prior year, the company earned $1.89 EPS. Atwood Oceanics’s revenue was down 43.4% compared to the same quarter last year. Analysts anticipate that Atwood Oceanics will post ($0.33) EPS for the current fiscal year.

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A number of large investors have recently added to or reduced their stakes in ATW. Bowling Portfolio Management LLC purchased a new stake in shares of Atwood Oceanics during the fourth quarter worth $136,000. Everence Capital Management Inc. purchased a new stake in shares of Atwood Oceanics during the first quarter worth $104,000. Brandes Investment Partners LP purchased a new stake in shares of Atwood Oceanics during the first quarter worth $117,000. Municipal Employees Retirement System of Michigan raised its stake in shares of Atwood Oceanics by 20.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,640 shares of the offshore driller’s stock worth $159,000 after buying an additional 2,880 shares during the last quarter. Finally, Eqis Capital Management Inc. raised its stake in shares of Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock worth $163,000 after buying an additional 3,416 shares during the last quarter. Institutional investors own 91.97% 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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