Atwood Oceanics, Inc. (NYSE:ATW) shares hit a new 52-week low during trading on Thursday . The company traded as low as $6.11 and last traded at $6.16, with a volume of 1,384,613 shares trading hands. The stock had previously closed at $6.20.
Several research firms have recently issued reports on ATW. ValuEngine upgraded Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Seaport Global Securities upgraded Atwood Oceanics from a “sell” rating to a “neutral” rating in a research report on Friday, June 2nd. Barclays PLC restated an “underweight” rating and issued a $10.00 price target (up from $7.00) on shares of Atwood Oceanics in a research report on Wednesday, May 31st. Wood & Company upgraded Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Finally, Raymond James Financial, Inc. upgraded Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Three analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Atwood Oceanics presently has an average rating of “Hold” and an average target price of $11.40.
The stock’s market capitalization is $503.67 million. The stock has a 50 day moving average price of $7.54 and a 200 day moving average price of $8.82.
Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $117.20 million during the quarter, compared to the consensus estimate of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. Atwood Oceanics’s revenue for the quarter was down 48.6% on a year-over-year basis. During the same period last year, the firm earned $1.53 EPS. On average, equities analysts expect that Atwood Oceanics, Inc. will post ($0.31) EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in Atwood Oceanics during the first quarter valued at approximately $104,000. Brandes Investment Partners LP acquired a new position in Atwood Oceanics during the first quarter valued at approximately $117,000. State of Alaska Department of Revenue increased its position in 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 buying an additional 6,400 shares during the period. Piedmont Investment Advisors LLC acquired a new position in Atwood Oceanics during the second quarter valued at approximately $133,000. Finally, Municipal Employees Retirement System of Michigan increased its position in 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 buying an additional 1,030 shares during the period. 91.97% of the stock is owned by institutional investors.
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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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