Other equities analysts have also recently issued reports about the stock. Morgan Stanley set a $19.00 price target on shares of Atwood Oceanics and gave the stock a buy rating in a research note on Wednesday, August 3rd. Deutsche Bank AG lifted their price objective on shares of Atwood Oceanics from $11.00 to $15.00 and gave the company a buy rating in a report on Wednesday, August 3rd. Citigroup Inc. decreased their price objective on shares of Atwood Oceanics from $13.00 to $12.00 and set a neutral rating for the company in a report on Thursday, July 28th. Stephens reiterated an overweight rating and set a $16.00 price objective on shares of Atwood Oceanics in a report on Monday, August 1st. Finally, Vetr upgraded shares of Atwood Oceanics from a strong sell rating to a strong-buy rating and set a $14.00 price objective for the company in a report on Tuesday, May 31st. Five analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $10.64.
Shares of Atwood Oceanics (NYSE:ATW) opened at 8.62 on Wednesday. Atwood Oceanics has a 1-year low of $4.82 and a 1-year high of $19.65. The company has a market cap of $558.58 million, a price-to-earnings ratio of 1.36 and a beta of 2.22. The firm has a 50-day moving average price of $7.89 and a 200 day moving average price of $9.89.
Atwood Oceanics (NYSE:ATW) last released its quarterly 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. Atwood Oceanics had a net margin of 34.45% and a return on equity of 13.79%. The firm earned $227.80 million during the quarter, compared to analysts’ expectations of $232.74 million. During the same period in the previous year, the company earned $1.73 EPS. The firm’s revenue for the quarter was down 31.1% compared to the same quarter last year. On average, analysts predict that Atwood Oceanics will post $4.70 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the company. Panagora Asset Management Inc. increased its stake in shares of Atwood Oceanics by 34.8% in the first quarter. Panagora Asset Management Inc. now owns 692,747 shares of the company’s stock worth $6,352,000 after buying an additional 178,815 shares during the period. Foundry Partners LLC purchased a new stake in shares of Atwood Oceanics during the second quarter worth about $3,385,000. Robotti Robert increased its stake in shares of Atwood Oceanics by 91.6% in the first quarter. Robotti Robert now owns 756,858 shares of the company’s stock worth $6,941,000 after buying an additional 361,761 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Atwood Oceanics during the first quarter worth about $1,829,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Atwood Oceanics by 1,871.1% in the first quarter. Canada Pension Plan Investment Board now owns 293,700 shares of the company’s stock worth $2,693,000 after buying an additional 278,800 shares during the period.
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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