Shares of Atwood Oceanics Inc. (NYSE:ATW) shot up 5.8% during mid-day trading on Friday . The stock traded as high as $8.26 and last traded at $8.08, with a volume of 1,722,754 shares changing hands. The stock had previously closed at $7.64.

Several brokerages have issued reports on ATW. Citigroup Inc. dropped their target price on Atwood Oceanics from $12.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 25th. RBC Capital Markets reaffirmed a “sector perform” rating and set a $11.00 target price (down previously from $14.00) on shares of Atwood Oceanics in a research report on Sunday, August 14th. Royal Bank Of Canada dropped their target price on Atwood Oceanics from $14.00 to $11.00 and set a “sector perform” rating on the stock in a research report on Friday, August 12th. Jefferies Group reaffirmed a “hold” rating on shares of Atwood Oceanics in a research report on Thursday, August 11th. Finally, Morgan Stanley set a $19.00 target price on Atwood Oceanics and gave the company a “buy” rating in a research report on Wednesday, August 3rd. 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 issued a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $11.24.

The firm has a 50-day moving average of $9.98 and a 200 day moving average of $9.92. The company has a market cap of $516.46 million and a price-to-earnings ratio of 1.26.

Atwood Oceanics (NYSE:ATW) last announced its earnings results 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 had revenue of $227.80 million for the quarter, compared to analyst estimates of $232.74 million. Atwood Oceanics’s quarterly revenue was down 31.1% on a year-over-year basis. During the same quarter last year, the company posted $1.73 EPS. On average, equities analysts predict that Atwood Oceanics Inc. will post $4.69 earnings per share for the current year.

A hedge fund recently raised its stake in Atwood Oceanics stock. Morgan Stanley raised its stake in Atwood Oceanics Inc. (NYSE:ATW) by 154.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,324,986 shares of the company’s stock after buying an additional 804,553 shares during the period. Morgan Stanley owned approximately 2.05% of Atwood Oceanics worth $13,554,000 at the end of the most recent reporting period.

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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