Atwood Oceanics, Inc. (ATW) Receives Average Recommendation of “Hold” from Analysts

Atwood Oceanics, Inc. (NYSE:ATW) has been assigned an average rating of “Hold” from the twenty-four analysts that are presently covering the company, Marketbeat reports. Five equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $11.30.

Several equities analysts recently weighed in on the company. BidaskClub raised Atwood Oceanics from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. ValuEngine raised Atwood Oceanics from a “hold” rating to a “buy” rating in a research report on Thursday, August 17th. Piper Jaffray Companies reissued a “hold” rating and set a $9.00 price objective on shares of Atwood Oceanics in a research report on Tuesday, September 19th. Barclays cut their price objective on Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating for the company in a research report on Friday, August 11th. Finally, Jefferies Group set a $10.00 price objective on Atwood Oceanics and gave the stock a “hold” rating in a research report on Thursday, October 5th.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arizona State Retirement System increased its stake in Atwood Oceanics by 0.3% during the second quarter. Arizona State Retirement System now owns 39,100 shares of the offshore driller’s stock valued at $319,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Atwood Oceanics by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 35,243 shares of the offshore driller’s stock valued at $287,000 after purchasing an additional 177 shares during the period. Capstone Asset Management Co. grew its stake in shares of Atwood Oceanics by 1.0% in the 2nd quarter. Capstone Asset Management Co. now owns 35,449 shares of the offshore driller’s stock valued at $289,000 after purchasing an additional 350 shares during the period. Texas Permanent School Fund grew its stake in shares of Atwood Oceanics by 0.9% in the 2nd quarter. Texas Permanent School Fund now owns 54,672 shares of the offshore driller’s stock valued at $446,000 after purchasing an additional 490 shares during the period. Finally, Municipal Employees Retirement System of Michigan grew its stake in shares of Atwood Oceanics by 6.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 17,670 shares of the offshore driller’s stock valued at $144,000 after purchasing an additional 1,030 shares during the period. Hedge funds and other institutional investors own 91.97% of the company’s stock.

Atwood Oceanics (NYSE:ATW) opened at $9.32 on Thursday. Atwood Oceanics has a 12-month low of $5.91 and a 12-month high of $15.37. The company has a current ratio of 8.80, a quick ratio of 7.45 and a debt-to-equity ratio of 0.38.

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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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