Atwood Oceanics Inc. (NYSE:ATW)’s share price shot up 7.7% on Tuesday . The stock traded as high as $12.72 and last traded at $12.58, with a volume of 2,618,841 shares. The stock had previously closed at $11.68.

Several research firms recently weighed in on ATW. Vetr cut Atwood Oceanics from a “strong-buy” rating to a “buy” rating and set a $14.00 price objective for the company. in a research report on Thursday, June 30th. Wood & Company raised Atwood Oceanics to a “strong-buy” rating in a research report on Thursday, July 7th. Royal Bank Of Canada boosted their price objective on Atwood Oceanics from $10.00 to $12.00 and gave the stock a “sector perform” rating in a research report on Monday, May 9th. Jefferies Group cut Atwood Oceanics from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $9.00 to $12.00 in a research report on Monday, May 9th. Finally, Johnson Rice cut Atwood Oceanics from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Four analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have assigned a buy rating and two have given a strong buy rating to the company. Atwood Oceanics presently has a consensus rating of “Hold” and an average target price of $10.54.

The stock has a market capitalization of $773.03 million and a PE ratio of 1.82. The stock has a 50-day moving average price of $11.85 and a 200-day moving average price of $9.26.

Atwood Oceanics (NYSE:ATW) last posted its earnings results on Thursday, May 5th. The company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.56 by $0.33. The company had revenue of $296.40 million for the quarter, compared to the consensus estimate of $292.90 million. During the same period in the previous year, the firm posted $1.89 EPS. The business’s quarterly revenue was down 15.4% compared to the same quarter last year. On average, equities analysts forecast that Atwood Oceanics Inc. will post $4.57 earnings per share for the current year.

Several hedge funds have modified their holdings of the company. Morgan Stanley boosted its stake in shares of Atwood Oceanics by 154.6% in the fourth quarter. Morgan Stanley now owns 1,324,986 shares of the company’s stock valued at $13,554,000 after buying an additional 804,553 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Atwood Oceanics during the fourth quarter valued at $2,425,000. New Amsterdam Partners LLC NY acquired a new stake in shares of Atwood Oceanics during the fourth quarter valued at $1,715,000. First Trust Advisors LP boosted its stake in shares of Atwood Oceanics by 45.1% in the fourth quarter. First Trust Advisors LP now owns 376,357 shares of the company’s stock valued at $3,850,000 after buying an additional 117,013 shares in the last quarter. Finally, Nationwide Fund Advisors boosted its stake in shares of Atwood Oceanics by 23.5% in the fourth quarter. Nationwide Fund Advisors now owns 365,993 shares of the company’s stock valued at $3,744,000 after buying an additional 69,548 shares in the last quarter.

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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.