ValuEngine upgraded shares of Atwood Oceanics, Inc. (NYSE:ATW) from a hold rating to a buy rating in a research note published on Thursday morning.

A number of other analysts have also recently weighed in on the stock. DNB Markets upgraded shares of Atwood Oceanics from a sell rating to a hold rating in a research note on Friday, May 19th. Clarkson Capital upgraded shares of Atwood Oceanics from a neutral rating to a buy rating and set a $12.00 price target for the company in a research note on Friday, May 12th. Zacks Investment Research upgraded shares of Atwood Oceanics from a hold rating to a buy rating and set a $8.50 price target for the company in a research note on Wednesday, July 12th. Jefferies Group LLC set a $10.00 price target on shares of Atwood Oceanics and gave the stock a hold rating in a research note on Wednesday, May 17th. Finally, Barclays PLC reiterated an underweight rating and set a $10.00 price target (up previously from $7.00) on shares of Atwood Oceanics in a research note on Wednesday, May 31st. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $11.40.

Shares of Atwood Oceanics (ATW) opened at 6.26 on Thursday. The firm’s market capitalization is $503.67 million. The stock’s 50 day moving average is $7.54 and its 200 day moving average is $8.82. Atwood Oceanics has a 1-year low of $5.91 and a 1-year high of $15.37.

Atwood Oceanics (NYSE:ATW) last issued its earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. During the same quarter in the prior year, the business posted $1.53 EPS. The company’s revenue for the quarter was down 48.6% on a year-over-year basis. Equities analysts predict that Atwood Oceanics will post ($0.31) earnings per share for the current year.

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Institutional investors have recently made changes to their positions in the stock. Bank of New York Mellon Corp increased its position in shares of Atwood Oceanics by 69.1% in the first quarter. Bank of New York Mellon Corp now owns 1,991,238 shares of the offshore driller’s stock worth $18,977,000 after buying an additional 813,666 shares in the last quarter. Eqis Capital Management Inc. increased its position in shares of Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock worth $163,000 after buying an additional 3,416 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Atwood Oceanics by 26.0% in the first quarter. Great West Life Assurance Co. Can now owns 100,337 shares of the offshore driller’s stock worth $956,000 after buying an additional 20,697 shares in the last quarter. Canada Pension Plan Investment Board increased its position in shares of Atwood Oceanics by 5.3% in the first quarter. Canada Pension Plan Investment Board now owns 501,200 shares of the offshore driller’s stock worth $4,776,000 after buying an additional 25,200 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Atwood Oceanics by 19.6% in the first quarter. Wells Fargo & Company MN now owns 906,017 shares of the offshore driller’s stock worth $8,634,000 after buying an additional 148,563 shares in the last quarter. Institutional investors and hedge funds own 91.97% of the company’s stock.

Atwood Oceanics Company Profile

Atwood Oceanics, Inc is an offshore drilling company engaged in the drilling and completion of exploration and development wells for the global oil and gas industry. The Company owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

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