Credit Suisse AG raised its stake in shares of Atwood Oceanics, Inc. (NYSE:ATW) by 148.2% during the first quarter, Holdings Channel reports. The firm owned 193,021 shares of the offshore driller’s stock after buying an additional 115,268 shares during the period. Credit Suisse AG’s holdings in Atwood Oceanics were worth $1,840,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new position in Atwood Oceanics during the first quarter valued at about $104,000. Brandes Investment Partners LP acquired a new position in Atwood Oceanics during the first quarter valued at about $117,000. Municipal Employees Retirement System of Michigan boosted its position in Atwood Oceanics by 20.9% in the first quarter. Municipal Employees Retirement System of Michigan now owns 16,640 shares of the offshore driller’s stock valued at $159,000 after buying an additional 2,880 shares during the period. Eqis Capital Management Inc. boosted its position in Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock valued at $163,000 after buying an additional 3,416 shares during the period. Finally, Mason Street Advisors LLC boosted its position in Atwood Oceanics by 32.9% in the first quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock valued at $167,000 after buying an additional 4,329 shares during the period. 91.97% of the stock is currently owned by institutional investors and hedge funds.
Atwood Oceanics, Inc. (NYSE:ATW) traded up 1.26% during midday trading on Friday, hitting $6.41. The stock had a trading volume of 2,507,703 shares. Atwood Oceanics, Inc. has a 52-week low of $6.12 and a 52-week high of $15.37. The firm has a 50-day moving average of $7.87 and a 200 day moving average of $9.12. The firm’s market capitalization is $515.74 million.
Atwood Oceanics (NYSE:ATW) last posted its earnings results 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 firm had revenue of $117.20 million for the quarter, compared to the consensus estimate of $125.89 million. Atwood Oceanics had a negative net margin of 3.06% and a positive return on equity of 2.25%. The company’s revenue was down 48.6% on a year-over-year basis. During the same period last year, the firm posted $1.53 EPS. On average, equities analysts forecast that Atwood Oceanics, Inc. will post ($0.29) EPS for the current year.
Several equities analysts recently issued reports on ATW shares. ValuEngine raised Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Clarkson Capital raised Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Friday, May 12th. Wood & Company raised Atwood Oceanics from an “accumulate” rating to a “buy” rating in a research report on Friday, April 28th. Zacks Investment Research raised Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.50 price objective on the stock in a research report on Wednesday, July 12th. Finally, TheStreet cut Atwood Oceanics from a “c-” rating to a “d+” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Atwood Oceanics presently has an average rating of “Hold” and an average target price of $11.40.
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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