Atwood Oceanics Inc. (NYSE:ATW) fell 3.9% during mid-day 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. The stock had previously closed at $10.98.

Several research firms have recently issued reports on ATW. Jefferies Group set a $11.00 price objective on Atwood Oceanics and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Morgan Stanley set a $19.00 target price on Atwood Oceanics and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Deutsche Bank AG increased their target price on Atwood Oceanics from $11.00 to $15.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. Stephens reaffirmed an “overweight” rating and issued a $16.00 target price on shares of Atwood Oceanics in a research report on Monday, August 1st. Finally, Citigroup Inc. cut their target price on Atwood Oceanics from $13.00 to $12.00 and set a “neutral” rating on the stock in a research report on Thursday, July 28th. Four research analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company. Atwood Oceanics presently has an average rating of “Hold” and a consensus price target of $11.38.

The firm’s 50 day moving average price is $11.62 and its 200-day moving average price is $9.65. The firm has a market cap of $627.26 million and a P/E ratio of 1.53.

Atwood Oceanics (NYSE:ATW) last released its earnings results on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.63. The firm had revenue of $227.80 million for the quarter, compared to analyst estimates of $232.74 million. During the same period in the prior year, the firm earned $1.73 EPS. The firm’s revenue was down 31.1% on a year-over-year basis. Equities analysts forecast that Atwood Oceanics Inc. will post $4.55 EPS for the current year.

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Trexquant Investment LP purchased a new position in Atwood Oceanics during the fourth quarter worth $2,425,000. Morgan Stanley raised 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. Finally, California Public Employees Retirement System raised 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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