Shares of Atwood Oceanics Inc. (NYSE:ATW) dropped 5.4% during trading 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.

ATW has been the topic of a number of recent research reports. Simmons reissued an “overweight” rating and set a $19.00 price target (up from $18.00) on shares of Atwood Oceanics in a research note on Tuesday, May 10th. Vetr lowered Atwood Oceanics from a “buy” rating to a “strong sell” rating and set a $9.33 price objective on the stock. in a research note on Monday, May 9th. KLR Group raised Atwood Oceanics from an “accumulate” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, May 31st. Jefferies Group lowered Atwood Oceanics from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $9.00 to $12.00 in a research note on Monday, May 9th. Finally, Johnson Rice lowered Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Four research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eight have issued a buy rating and two have assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.32.

The stock’s 50-day moving average price is $11.18 and its 200 day moving average price is $9.77. The firm has a market capitalization of $565.06 million and a PE ratio of 1.37.

Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Monday, August 1st. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.63. The business earned $227.80 million during the quarter, compared to analysts’ expectations of $232.74 million. During the same quarter last year, the business posted $1.73 EPS. The company’s quarterly revenue was down 31.1% compared to the same quarter last year. Analysts expect that Atwood Oceanics Inc. will post $4.64 earnings per share for the current fiscal year.

A hedge fund recently bought a new stake in Atwood Oceanics stock. Trexquant Investment LP acquired a new stake in Atwood Oceanics Inc. (NYSE:ATW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 237,020 shares of the company’s stock, valued at approximately $2,425,000. Trexquant Investment LP owned approximately 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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