Shares of Atwood Oceanics Inc. (NYSE:ATW) fell 3.9% during trading on Tuesday . The stock traded as low as $10.52 and last traded at $10.55, with a volume of 1,526,183 shares trading hands. The stock had previously closed at $10.98.

Several brokerages have commented on ATW. Vetr cut shares of Atwood Oceanics from a “strong-buy” rating to a “buy” rating and set a $14.00 target price for the company. in a research report on Thursday, June 30th. Wood & Company upgraded shares of Atwood Oceanics to a “strong-buy” rating in a research report on Thursday, July 7th. Jefferies Group cut shares of Atwood Oceanics from a “buy” rating to a “hold” rating and upped their target price for the company from $9.00 to $12.00 in a research report on Monday, May 9th. Royal Bank Of Canada upped their target price on shares of Atwood Oceanics from $10.00 to $12.00 and gave the company a “sector perform” rating in a research report on Monday, May 9th. 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, fifteen have assigned a hold rating, eight have given a buy rating and two have issued a strong buy rating to the stock. Atwood Oceanics currently has a consensus rating of “Hold” and an average target price of $11.38.

The firm’s 50-day moving average is $11.69 and its 200-day moving average is $9.65. The company has a market cap of $684.29 million and a PE ratio of 1.67.

Atwood Oceanics (NYSE:ATW) last issued its quarterly earnings data on Monday, August 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.63. During the same quarter in the prior year, the business earned $1.73 earnings per share. The business had revenue of $227.80 million for the quarter, compared to analyst estimates of $232.74 million. The firm’s quarterly revenue was down 31.1% compared to the same quarter last year. Equities analysts anticipate that Atwood Oceanics Inc. will post $4.54 earnings per share for the current year.

Several hedge funds and institutional investors have modified their holdings of the stock. Morgan Stanley boosted its position 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 worth $13,554,000 after buying an additional 804,553 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Atwood Oceanics during the fourth quarter worth about $2,425,000. Finally, California Public Employees Retirement System boosted its position in shares of 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 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.

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