Atwood Oceanics, Inc. (ATW) Upgraded by Wood & Company to “Market Perform”

Atwood Oceanics, Inc. (ATW) Upgraded by Wood & Company to “Market Perform”

Several other equities analysts have also recently weighed in on ATW. Raymond James Financial, Inc. upgraded Atwood Oceanics from an underperform rating to a market perform rating in a research report on Wednesday. Evercore ISI reiterated a hold rating and issued a $10.00 price target on shares of Atwood Oceanics in a research report on Tuesday, February 7th. DNB Markets raised Atwood Oceanics from a sell rating to a hold rating in a research note on Friday, May 19th. Jefferies Group LLC set a $11.00 price objective on Atwood Oceanics and gave the company a hold rating in a research note on Monday, February 6th. Finally, Piper Jaffray Companies set a $15.00 price objective on Atwood Oceanics and gave the company a buy rating in a research note on Tuesday, February 7th. Four investment 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 company’s stock. Atwood Oceanics currently has a consensus rating of Hold and an average price target of $12.06.

Wood & Company upgraded shares of Atwood Oceanics, Inc. (NYSE:ATW) from an underperform rating to a market perform rating in a research note published on Wednesday morning.

Shares of Atwood Oceanics (NYSE ATW) traded up 1.99% during mid-day trading on Wednesday, reaching $10.24. The company had a trading volume of 878,839 shares. The firm’s 50-day moving average price is $8.20 and its 200 day moving average price is $10.31. The company has a market cap of $824.51 million, a price-to-earnings ratio of 8.28 and a beta of 2.26. Atwood Oceanics has a 52-week low of $6.12 and a 52-week high of $15.37.

Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings results on Monday, May 8th. The offshore driller reported $0.37 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.29) by $0.66. The company had revenue of $167.71 million during the quarter, compared to analysts’ expectations of $130.51 million. Atwood Oceanics had a return on equity of 7.38% and a net margin of 27.10%. The firm’s quarterly revenue was down 43.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.89 earnings per share. Equities analysts expect that Atwood Oceanics will post ($0.41) EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. Bowling Portfolio Management LLC bought a new stake in Atwood Oceanics during the fourth quarter worth $136,000. Everence Capital Management Inc. bought a new stake in Atwood Oceanics during the first quarter worth $104,000. Brandes Investment Partners LP bought a new stake in Atwood Oceanics during the first quarter worth $117,000. Municipal Employees Retirement System of Michigan raised its stake in Atwood Oceanics by 20.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,640 shares of the offshore driller’s stock worth $159,000 after buying an additional 2,880 shares during the period. Finally, Eqis Capital Management Inc. raised its stake in 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 during the period. 90.62% of the stock is owned by institutional investors.

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “ATW”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Related posts

Leave a Comment