Shares of Atwood Oceanics, Inc. (NYSE:ATW) have received an average rating of “Hold” from the twenty-six analysts that are currently covering the company, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $11.53.

ATW has been the subject of several research reports. Barclays PLC lowered their target price on Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Friday, August 11th. Piper Jaffray Companies cut Atwood Oceanics from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $15.00 to $10.00 in a research note on Monday, June 19th. BidaskClub upgraded Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. ValuEngine cut Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Zacks Investment Research upgraded Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Tuesday, July 25th.

Several hedge funds have recently made changes to their positions in ATW. State of Alaska Department of Revenue increased its holdings in shares of Atwood Oceanics by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock valued at $119,000 after purchasing an additional 6,400 shares during the period. Piedmont Investment Advisors LLC acquired a new position in shares of Atwood Oceanics in the second quarter valued at about $133,000. Municipal Employees Retirement System of Michigan increased its holdings in shares of Atwood Oceanics by 6.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock valued at $144,000 after purchasing an additional 1,030 shares during the period. Mason Street Advisors LLC increased its holdings in shares of Atwood Oceanics by 32.9% in the first quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock valued at $167,000 after purchasing an additional 4,329 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Atwood Oceanics in the second quarter valued at about $176,000. 91.97% of the stock is currently owned by institutional investors and hedge funds.

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Atwood Oceanics (NYSE ATW) opened at 8.11 on Friday. Atwood Oceanics has a 52-week low of $5.91 and a 52-week high of $15.37. The company’s 50-day moving average is $7.02 and its 200-day moving average is $8.21. The company’s market capitalization is $652.51 million.

Atwood Oceanics (NYSE:ATW) last issued its earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. During the same period in the prior year, the business earned $1.53 EPS. The business’s revenue for the quarter was down 48.6% compared to the same quarter last year. On average, analysts expect that Atwood Oceanics will post ($0.51) earnings per share for the current fiscal year.

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.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

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