Atwood Oceanics, Inc. (NYSE:ATW)’s share price rose 7.3% 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.

ATW has been the subject of a number of analyst reports. Barclays PLC lowered their target price on shares of Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating for the company in a research note on Friday, August 11th. Piper Jaffray Companies downgraded shares of Atwood Oceanics from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $15.00 to $10.00 in a research note on Monday, June 19th. BidaskClub raised shares of Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. ValuEngine downgraded shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Zacks Investment Research raised shares of Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 target price for the company in a research note on Tuesday, July 25th. Four equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Atwood Oceanics presently has a consensus rating of “Hold” and a consensus price target of $11.40.

The firm’s market capitalization is $566.42 million. The stock’s 50-day moving average price is $7.13 and its 200 day moving average price is $8.41.

Atwood Oceanics (NYSE:ATW) last issued its quarterly earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The company had revenue of $117.20 million during the quarter, compared to analyst estimates of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. Atwood Oceanics’s quarterly revenue was down 48.6% compared to the same quarter last year. During the same period last year, the business earned $1.53 EPS. On average, equities analysts anticipate that Atwood Oceanics, Inc. will post ($0.44) EPS for the current fiscal year.

Several institutional investors have recently modified their holdings of the stock. Arizona State Retirement System increased its stake in shares of Atwood Oceanics by 0.3% in the 2nd quarter. Arizona State Retirement System now owns 39,100 shares of the offshore driller’s stock worth $319,000 after acquiring an additional 100 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Atwood Oceanics by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 35,243 shares of the offshore driller’s stock worth $287,000 after acquiring an additional 177 shares in the last quarter. Capstone Asset Management Co. increased its stake in shares of Atwood Oceanics by 1.0% in the 2nd quarter. Capstone Asset Management Co. now owns 35,449 shares of the offshore driller’s stock worth $289,000 after acquiring an additional 350 shares in the last quarter. Texas Permanent School Fund increased its stake in shares of Atwood Oceanics by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 54,672 shares of the offshore driller’s stock worth $446,000 after acquiring an additional 490 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake 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 acquiring an additional 1,030 shares in the last quarter. Institutional investors own 91.97% of the company’s stock.

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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.

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