Shares of Atwood Oceanics Inc. (NYSE:ATW) traded down 4.6% during mid-day trading on Tuesday . The company traded as low as $11.71 and last traded at $11.82, with a volume of 3,103,754 shares traded. The stock had previously closed at $12.39.

A number of analysts have issued reports on the company. Vetr raised Atwood Oceanics from a “sell” rating to a “hold” rating and set a $9.33 price target on the stock in a research note on Tuesday, May 3rd. Wood & Company raised Atwood Oceanics to a “strong-buy” rating in a research note on Thursday, July 7th. Susquehanna raised their price target on Atwood Oceanics from $6.00 to $9.00 in a research note on Tuesday, April 12th. Citigroup Inc. raised their price target on Atwood Oceanics from $10.00 to $11.00 and gave the stock a “neutral” rating in a research note on Monday, May 16th. Finally, Clarkson Capital lowered Atwood Oceanics from a “neutral” rating to a “sell” rating in a research note on Wednesday, April 27th. Four equities 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 assigned a strong buy rating to the stock. Atwood Oceanics presently has a consensus rating of “Hold” and a consensus price target of $10.54.

The stock’s 50-day moving average price is $11.95 and its 200-day moving average price is $9.29. The company has a market capitalization of $788.58 million and a price-to-earnings ratio of 1.86.

Atwood Oceanics (NYSE:ATW) last released its quarterly earnings results on Thursday, May 5th. The company reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.33. During the same quarter last year, the company posted $1.89 EPS. The company had revenue of $296.40 million for the quarter, compared to the consensus estimate of $292.90 million. The business’s revenue was down 15.4% compared to the same quarter last year. Equities research analysts forecast that Atwood Oceanics Inc. will post $4.58 earnings per share for the current fiscal year.

Several hedge funds recently added to or reduced their stakes in ATW. Nationwide Fund Advisors increased its stake in 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 during the period. First Trust Advisors LP increased its stake in 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 during the period. California Public Employees Retirement System increased its stake in Atwood Oceanics by 9.6% in the fourth quarter. California Public Employees Retirement System now owns 216,300 shares of the company’s stock valued at $2,213,000 after buying an additional 18,900 shares during the period. South Dakota Investment Council increased its stake in Atwood Oceanics by 9.1% in the fourth quarter. South Dakota Investment Council now owns 108,400 shares of the company’s stock valued at $1,109,000 after buying an additional 9,000 shares during the period. Finally, New Amsterdam Partners LLC NY bought a new stake in Atwood Oceanics during the fourth quarter valued at about $1,715,000.

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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