Shares of Atwood Oceanics Inc. (NYSE:ATW) saw unusually-strong trading volume on Thursday . Approximately 3,086,913 shares changed hands during mid-day trading, a decline of 14% from the previous session’s volume of 3,592,357 shares.The stock last traded at $12.10 and had previously closed at $12.38.

ATW has been the subject of several research analyst reports. Vetr raised Atwood Oceanics from a “buy” rating to a “strong-buy” rating and set a $10.39 price objective for the company in a research note on Tuesday, March 15th. Simmons reissued an “overweight” rating and set a $19.00 price objective (up previously from $18.00) on shares of Atwood Oceanics in a research note on Tuesday, May 10th. Goldman Sachs Group Inc. lowered Atwood Oceanics from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $5.75 to $5.00 in a research note on Friday, March 11th. KLR Group raised Atwood Oceanics from an “accumulate” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Tuesday, May 31st. Finally, Barclays PLC lowered Atwood Oceanics from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $7.00 to $6.00 in a research note on Monday, March 28th. Four research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, five have assigned a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.54.

The company has a market cap of $779.51 million and a PE ratio of 1.84. The company has a 50 day moving average price of $11.76 and a 200 day moving average price of $9.23.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings results on Thursday, May 5th. The company reported $1.89 EPS for the quarter, beating the Zacks’ consensus estimate of $1.56 by $0.33. During the same period in the previous year, the business posted $1.89 EPS. The business earned $296.40 million during the quarter, compared to the consensus estimate of $292.90 million. The firm’s revenue was down 15.4% on a year-over-year basis. Equities analysts predict that Atwood Oceanics Inc. will post $4.56 earnings per share for the current year.

Several hedge funds and institutional investors have made changes to their positions in the stock. South Dakota Investment Council increased its position 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 last quarter. Buckhead Capital Management LLC raised its stake in 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. New Amsterdam Partners LLC NY purchased a new stake in Atwood Oceanics during the fourth quarter worth $1,715,000. Principal Financial Group Inc. raised its stake in Atwood Oceanics by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 189,780 shares of the company’s stock worth $1,942,000 after buying an additional 4,935 shares during the period. Finally, GSA Capital Partners LLP raised its stake in 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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