ValuEngine downgraded shares of Atwood Oceanics, Inc. (NYSE:ATW) from a buy rating to a hold rating in a research report report published on Wednesday.

Other equities analysts have also recently issued research reports about the company. Jefferies Group LLC set a $10.00 target price on Atwood Oceanics and gave the stock a hold rating in a report on Wednesday, May 17th. Zacks Investment Research upgraded Atwood Oceanics from a hold rating to a buy rating and set a $8.50 target price for the company in a report on Wednesday, July 12th. BidaskClub upgraded Atwood Oceanics from a strong sell rating to a sell rating in a report on Friday, August 25th. TheStreet cut Atwood Oceanics from a c- rating to a d+ rating in a report on Monday, August 7th. Finally, Piper Jaffray Companies cut 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 report on Monday, June 19th. Four equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of Hold and an average target price of $11.40.

Shares of Atwood Oceanics (ATW) opened at 7.05 on Wednesday. Atwood Oceanics has a 52-week low of $5.91 and a 52-week high of $15.37. The company’s 50-day moving average price is $7.05 and its 200-day moving average price is $8.38. The firm’s market cap is $567.23 million.

Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.01. The business had revenue of $117.20 million during the quarter, compared to analysts’ expectations of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The firm’s quarterly revenue was down 48.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 EPS. Equities analysts expect that Atwood Oceanics will post ($0.44) earnings per share for the current fiscal year.

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A number of large investors have recently modified their holdings of the stock. FMR LLC lifted its stake in Atwood Oceanics by 2.7% in the 2nd quarter. FMR LLC now owns 11,780,701 shares of the offshore driller’s stock valued at $96,013,000 after purchasing an additional 310,669 shares during the last quarter. BlackRock Inc. lifted its stake in Atwood Oceanics by 45,068.1% in the 1st quarter. BlackRock Inc. now owns 9,573,385 shares of the offshore driller’s stock valued at $91,235,000 after purchasing an additional 9,552,190 shares during the last quarter. Vanguard Group Inc. lifted its stake in Atwood Oceanics by 9.0% in the 2nd quarter. Vanguard Group Inc. now owns 7,609,809 shares of the offshore driller’s stock valued at $62,021,000 after purchasing an additional 626,931 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Atwood Oceanics by 40.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,416,265 shares of the offshore driller’s stock valued at $52,294,000 after purchasing an additional 1,860,301 shares during the last quarter. Finally, CNH Partners LLC acquired a new stake in Atwood Oceanics in the 2nd quarter valued at about $27,399,000. Institutional investors and hedge funds own 91.97% of the company’s stock.

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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Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

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