Atwood Oceanics, Inc. (NYSE:ATW) shares were up 7.3% during trading on Monday . The company traded as high as $7.07 and last traded at $7.05. Approximately 3,327,358 shares were traded during trading, a decline of 43% from the average daily volume of 5,845,290 shares. The stock had previously closed at $6.57.

A number of research analysts have commented on ATW shares. Barclays PLC reduced their price target on shares of Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating on the stock in a research report on Friday, August 11th. Piper Jaffray Companies cut shares of Atwood Oceanics from an “overweight” rating to a “neutral” rating and reduced their price target for the company from $15.00 to $10.00 in a research report on Monday, June 19th. BidaskClub upgraded shares of Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Zacks Investment Research raised Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 price objective for the company in a research note on Tuesday, July 25th. Finally, Wood & Company raised Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research note on Wednesday, May 31st. Four equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $11.40.

The company’s 50-day moving average is $7.18 and its 200 day moving average is $8.48. The stock’s market capitalization is $567.23 million.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $117.20 million for the quarter, compared to the consensus estimate of $125.89 million. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. Atwood Oceanics’s quarterly revenue was down 48.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.53 EPS. On average, equities research analysts forecast that Atwood Oceanics, Inc. will post ($0.44) EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Brandes Investment Partners LP purchased a new stake in shares of Atwood Oceanics in the 1st quarter worth $117,000. State of Alaska Department of Revenue lifted its holdings in shares of Atwood Oceanics by 77.5% in the 2nd quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock worth $119,000 after buying an additional 6,400 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in shares of Atwood Oceanics in the 2nd quarter worth $133,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of Atwood Oceanics by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock worth $144,000 after buying an additional 1,030 shares during the period. Finally, Eqis Capital Management Inc. lifted its holdings in shares of Atwood Oceanics by 24.9% in the 1st 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 during the period. Institutional investors and hedge funds own 91.97% of the company’s stock.

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About Atwood Oceanics

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.

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