Atwood Oceanics Inc. (NYSE:ATW) shares were down 5.4% on Tuesday . The company traded as low as $8.76 and last traded at $8.82, with a volume of 2,929,677 shares trading hands. The stock had previously closed at $9.32.

A number of research analysts recently weighed in on ATW shares. Wood & Company raised shares of Atwood Oceanics to a “strong-buy” rating in a research report on Thursday, July 7th. Royal Bank Of Canada decreased their target price on shares of Atwood Oceanics from $14.00 to $11.00 and set a “sector perform” rating for the company in a research report on Friday. Vetr raised shares of Atwood Oceanics from a “buy” rating to a “strong-buy” rating and set a $14.00 target price for the company in a research report on Wednesday, July 6th. KLR Group raised shares of Atwood Oceanics from an “accumulate” rating to a “buy” rating and set a $16.00 target price for the company in a research report on Tuesday, May 31st. Finally, RBC Capital Markets reaffirmed a “sector perform” rating and issued a $11.00 target price (down previously from $14.00) on shares of Atwood Oceanics in a research report on Sunday. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $11.32.

The stock’s 50 day moving average is $11.35 and its 200 day moving average is $9.76. The company has a market cap of $581.26 million and a P/E ratio of 1.41.

Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings results on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.90 by $0.63. The company had revenue of $227.80 million for the quarter, compared to the consensus estimate of $232.74 million. Atwood Oceanics’s quarterly revenue was down 31.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 EPS. On average, equities research analysts anticipate that Atwood Oceanics Inc. will post $4.57 earnings per share for the current fiscal year.

An institutional investor recently bought a new position in Atwood Oceanics stock. Trexquant Investment LP bought a new position in Atwood Oceanics Inc. (NYSE:ATW) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor bought 237,020 shares of the company’s stock, valued at approximately $2,425,000. Trexquant Investment LP owned about 0.37% of Atwood Oceanics at the end of the most recent 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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