Traynor Capital Management Inc. increased its stake in Atwood Oceanics Inc. (NYSE:ATW) by 189.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,025 shares of the company’s stock after buying an additional 54,975 shares during the period. Traynor Capital Management Inc.’s holdings in Atwood Oceanics were worth $1,072,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the company. Jacobs Levy Equity Management Inc. bought a new stake in Atwood Oceanics during the first quarter valued at about $1,829,000. Geode Capital Management LLC raised its stake in Atwood Oceanics by 75.8% in the first quarter. Geode Capital Management LLC now owns 1,745,643 shares of the company’s stock valued at $16,007,000 after buying an additional 752,887 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Atwood Oceanics by 251.9% in the first quarter. Meeder Asset Management Inc. now owns 78,860 shares of the company’s stock valued at $723,000 after buying an additional 56,451 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in 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 valued at $2,693,000 after buying an additional 278,800 shares in the last quarter. Finally, Huntington Asset Advisors Inc. acquired a new stake in Atwood Oceanics during the first quarter valued at about $183,000.
Shares of Atwood Oceanics Inc. (NYSE:ATW) traded up 14.03% on Wednesday, reaching $8.21. The company had a trading volume of 7,602,858 shares. The company’s 50-day moving average is $8.05 and its 200-day moving average is $9.91. The company has a market capitalization of $532.01 million, a PE ratio of 1.29 and a beta of 2.23. Atwood Oceanics Inc. has a one year low of $4.82 and a one year high of $19.65.
Atwood Oceanics (NYSE:ATW) last issued its earnings results on Monday, August 1st. The company reported $1.53 earnings per share (EPS) for the quarter, beating 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 business had revenue of $227.80 million for the quarter, compared to analysts’ expectations of $232.74 million. During the same quarter in the previous year, the firm posted $1.73 EPS. The business’s revenue for the quarter was down 31.1% compared to the same quarter last year. Equities research analysts predict that Atwood Oceanics Inc. will post $4.68 earnings per share for the current year.
ATW has been the topic of several research analyst reports. KLR Group upgraded Atwood Oceanics from an “accumulate” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Tuesday, May 31st. Vetr upgraded Atwood Oceanics from a “strong sell” rating to a “strong-buy” rating and set a $14.00 price objective on the stock in a research note on Tuesday, May 31st. Johnson Rice lowered Atwood Oceanics from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Wood & Company upgraded Atwood Oceanics to a “strong-buy” rating in a research note on Thursday, July 7th. Finally, Citigroup Inc. dropped their price objective on Atwood Oceanics from $13.00 to $12.00 and set a “neutral” rating on the stock in a research note on Thursday, July 28th. Five equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. Atwood Oceanics has an average rating of “Hold” and an average target price of $10.64.
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.
Want to see what other hedge funds are holding ATW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atwood Oceanics Inc. (NYSE:ATW).
Receive News & Ratings for Atwood Oceanics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atwood Oceanics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.