Atwood Oceanics, Inc. (NYSE:ATW) received a $12.00 price target from Scotiabank in a research report issued on Wednesday. The brokerage presently has a “hold” rating on the offshore driller’s stock. Scotiabank’s price target would suggest a potential upside of 51.13% from the stock’s previous close.

ATW has been the subject of a number of other reports. Vetr upgraded Atwood Oceanics from a “strong sell” rating to a “hold” rating and set a $14.10 target price for the company in a report on Thursday, January 12th. Goldman Sachs Group Inc reiterated a “sell” rating and issued a $7.75 target price (down from $9.00) on shares of Atwood Oceanics in a report on Tuesday, February 7th. Simmons reiterated an “overweight” rating and issued a $15.00 target price (down from $15.50) on shares of Atwood Oceanics in a report on Tuesday, February 7th. Jefferies Group LLC restated a “hold” rating and set a $13.00 price objective (up previously from $8.00) on shares of Atwood Oceanics in a report on Friday, December 23rd. Finally, TheStreet upgraded Atwood Oceanics from a “sell” rating to a “hold” rating in a report on Friday, December 23rd. Six investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $12.36.

Analyst Recommendations for Atwood Oceanics (NYSE:ATW)

Atwood Oceanics (NYSE:ATW) opened at 7.94 on Wednesday. The company has a market cap of $638.92 million, a price-to-earnings ratio of 2.18 and a beta of 2.26. Atwood Oceanics has a 12 month low of $6.12 and a 12 month high of $15.37. The company’s 50-day moving average is $9.14 and its 200 day moving average is $10.33.

Atwood Oceanics (NYSE:ATW) last released its quarterly earnings data on Friday, February 3rd. The offshore driller reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.18 by $0.03. The business earned $157.56 million during the quarter, compared to analyst estimates of $154.93 million. Atwood Oceanics had a net margin of 27.10% and a return on equity of 7.38%. The business’s quarterly revenue was down 48.8% compared to the same quarter last year. During the same period last year, the business earned $1.60 earnings per share. Equities analysts forecast that Atwood Oceanics will post ($0.49) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of the company. Everence Capital Management Inc. purchased a new position in Atwood Oceanics during the first quarter worth about $104,000. Bowling Portfolio Management LLC purchased a new position in Atwood Oceanics during the fourth quarter worth about $136,000. Victory Capital Management Inc. purchased a new position in Atwood Oceanics during the third quarter worth about $156,000. First Citizens Bank & Trust Co. purchased a new position in Atwood Oceanics during the third quarter worth about $201,000. Finally, Acrospire Investment Management LLC boosted its position in Atwood Oceanics by 76.6% in the third quarter. Acrospire Investment Management LLC now owns 25,816 shares of the offshore driller’s stock worth $224,000 after buying an additional 11,200 shares during the last quarter. Hedge funds and other institutional investors own 90.62% of the company’s stock.

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.

5 Day Chart for NYSE:ATW

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