An issue of Atwood Oceanics Inc. (NYSE:ATW) bonds fell 0.6% against their face value during trading on Wednesday. The high-yield debt issue has a 6.5% coupon and is set to mature on February 1, 2020. The bonds in the issue are now trading at $77.38 and were trading at $78.25 last week. Price moves in a company’s bonds in credit markets often anticipate parallel moves in its share price.
A number of equities research analysts have recently weighed in on the company. Jefferies Group set a $8.00 target price on Atwood Oceanics and gave the stock a “hold” rating in a report on Wednesday. Morgan Stanley set a $19.00 target price on Atwood Oceanics and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Citigroup Inc. dropped their target price on Atwood Oceanics from $13.00 to $12.00 and set a “neutral” rating for the company in a report on Thursday, July 28th. Deutsche Bank AG lifted their target price on Atwood Oceanics from $11.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Finally, Stephens reissued an “overweight” rating and set a $16.00 target price on shares of Atwood Oceanics in a report on Monday, August 1st. Five analysts have rated the stock with a sell rating, sixteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. Atwood Oceanics presently has an average rating of “Hold” and a consensus target price of $10.64.
Shares of Atwood Oceanics Inc. (NYSE:ATW) opened at 8.21 on Thursday. Atwood Oceanics Inc. has a 52-week low of $4.82 and a 52-week high of $19.65. The stock has a market capitalization of $532.01 million, a price-to-earnings ratio of 1.29 and a beta of 2.23. The company has a 50-day moving average price of $7.98 and a 200-day moving average price of $9.90.
Atwood Oceanics (NYSE:ATW) last posted its earnings results on Monday, August 1st. The company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.63. The company had revenue of $227.80 million for the quarter, compared to the consensus estimate of $232.74 million. Atwood Oceanics had a return on equity of 13.79% and a net margin of 34.45%. The firm’s revenue for the quarter was down 31.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.73 earnings per share. On average, equities analysts anticipate that Atwood Oceanics Inc. will post $4.70 earnings per share for the current year.
Large investors have recently modified their holdings of the stock. Teacher Retirement System of Texas increased its stake in shares of Atwood Oceanics by 14.2% in the second quarter. Teacher Retirement System of Texas now owns 8,449 shares of the company’s stock worth $106,000 after buying an additional 1,049 shares during the period. Mason Street Advisors LLC bought a new stake in shares of Atwood Oceanics during the second quarter worth about $143,000. Raymond James & Associates increased its stake in shares of Atwood Oceanics by 0.4% in the second quarter. Raymond James & Associates now owns 11,621 shares of the company’s stock worth $145,000 after buying an additional 48 shares during the period. Advisor Partners LLC bought a new stake in shares of Atwood Oceanics during the first quarter worth about $115,000. Finally, Public Employees Retirement System of Ohio increased its stake in shares of Atwood Oceanics by 32.3% in the second quarter. Public Employees Retirement System of Ohio now owns 13,237 shares of the company’s stock worth $166,000 after buying an additional 3,234 shares during the period.
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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