Atwood Oceanics Inc. (NYSE:ATW)’s share price dropped 9.4% during trading on Tuesday . The company traded as low as $12.37 and last traded at $12.38, with a volume of 2,571,417 shares traded. The stock had previously closed at $13.66.

ATW has been the subject of a number of research analyst reports. Goldman Sachs Group Inc. cut shares of Atwood Oceanics from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $5.75 to $5.00 in a research report on Friday, March 11th. Deutsche Bank AG reaffirmed a “hold” rating on shares of Atwood Oceanics in a research report on Saturday, March 12th. Vetr cut shares of Atwood Oceanics from a “strong-buy” rating to a “buy” rating and set a $10.31 price objective for the company. in a research report on Monday, March 14th. Seaport Global Securities boosted their target price on shares of Atwood Oceanics from $5.00 to $7.00 and gave the company a “reduce” rating in a research report on Monday, March 14th. Finally, Citigroup Inc. reissued a “neutral” rating and issued a $10.00 target price (up previously from $7.00) on shares of Atwood Oceanics in a research report on Wednesday, March 16th. Five investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Atwood Oceanics presently has a consensus rating of “Hold” and an average price target of $10.54.

The company’s 50 day moving average is $11.71 and its 200 day moving average is $9.20. The company has a market cap of $845.28 million and a price-to-earnings ratio of 1.994.

Atwood Oceanics (NYSE:ATW) last issued its earnings results on Thursday, May 5th. The company reported $1.89 EPS for the quarter, topping the consensus estimate of $1.56 by $0.33. During the same quarter in the prior year, the business earned $1.89 EPS. The company earned $296.40 million during the quarter, compared to the consensus estimate of $292.90 million. The firm’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, equities analysts predict that Atwood Oceanics Inc. will post $4.42 EPS for the current fiscal year.

Other hedge funds have modified their holdings of the company. South Dakota Investment Council increased its stake in shares of Atwood Oceanics by 9.1% in the fourth quarter. South Dakota Investment Council now owns 108,400 shares of the company’s stock worth $1,109,000 after buying an additional 9,000 shares during the period. Trexquant Investment LP acquired a new stake in shares of Atwood Oceanics during the fourth quarter worth about $2,425,000. Buckhead Capital Management LLC increased its stake in shares of Atwood Oceanics by 52.7% in the fourth quarter. Buckhead Capital Management LLC now owns 122,996 shares of the company’s stock worth $1,258,000 after buying an additional 42,455 shares during the period. Numeric Investors LLC acquired a new stake in shares of Atwood Oceanics during the fourth quarter worth about $2,185,000. Finally, GSA Capital Partners LLP increased its stake in shares of Atwood Oceanics by 51.0% in the fourth quarter. GSA Capital Partners LLP now owns 197,981 shares of the company’s stock worth $2,025,000 after buying an additional 66,868 shares during the period.

Atwood Oceanics, Inc is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The Company has a fleet of approximately 13 mobile offshore drilling units located around the world. The Company’s fleet includes Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups.

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