Atwood Oceanics Inc. (NYSE:ATW) was down 7.6% during mid-day trading on Wednesday . The stock traded as low as $10.95 and last traded at $11.03, with a volume of 3,451,553 shares. The stock had previously closed at $11.94.

Several equities research analysts have issued reports on ATW shares. Vetr cut shares of Atwood Oceanics from a “buy” rating to a “hold” rating and set a $9.51 target price on the stock. in a research note on Tuesday, April 12th. Wood & Company raised shares of Atwood Oceanics to a “strong-buy” rating in a research report on Thursday, July 7th. Citigroup Inc. reissued a “hold” rating on shares of Atwood Oceanics in a research report on Thursday, May 19th. Finally, Johnson Rice cut shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research report on Monday, June 13th. Four investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $10.54.

The firm has a market capitalization of $706.29 million and a PE ratio of 1.67. The stock’s 50-day moving average price is $12.11 and its 200 day moving average price is $9.40.

Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Thursday, May 5th. The company reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.56 by $0.33. During the same quarter last year, the business earned $1.89 earnings per share. The firm earned $296.40 million during the quarter, compared to analysts’ expectations of $292.90 million. The business’s revenue for the quarter was down 15.4% compared to the same quarter last year. On average, analysts anticipate that Atwood Oceanics Inc. will post $4.58 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in the company. South Dakota Investment Council increased its position in 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. Buckhead Capital Management LLC increased its position 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. GSA Capital Partners LLP increased its position 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. California Public Employees Retirement System increased its position 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 worth $2,213,000 after buying an additional 18,900 shares during the period. Finally, Trexquant Investment LP purchased a new position in Atwood Oceanics during the fourth quarter worth approximately $2,425,000.

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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