James Investment Research Inc. lowered its stake in shares of Atwood Oceanics, Inc. (NYSE:ATW) by 48.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 79,255 shares of the offshore driller’s stock after selling 73,250 shares during the period. James Investment Research Inc. owned about 0.10% of Atwood Oceanics worth $646,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Everence Capital Management Inc. purchased a new stake in Atwood Oceanics during the first quarter valued at approximately $104,000. Brandes Investment Partners LP purchased a new stake in Atwood Oceanics during the first quarter valued at approximately $117,000. State of Alaska Department of Revenue increased its stake in Atwood Oceanics by 77.5% in the second quarter. State of Alaska Department of Revenue now owns 14,660 shares of the offshore driller’s stock valued at $119,000 after buying an additional 6,400 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its stake 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 in the last quarter. Finally, Eqis Capital Management Inc. increased its stake 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 in the last quarter. Hedge funds and other institutional investors own 91.97% of the company’s stock.
Shares of Atwood Oceanics, Inc. (ATW) traded up 3.64% during trading on Friday, reaching $6.26. The company’s stock had a trading volume of 3,858,301 shares. Atwood Oceanics, Inc. has a 12-month low of $5.91 and a 12-month high of $15.37. The company has a 50 day moving average of $7.60 and a 200 day moving average of $8.86. The company’s market cap is $503.67 million.
Atwood Oceanics (NYSE:ATW) last issued its earnings results on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. The firm had revenue of $117.20 million for the quarter, compared to analysts’ expectations of $125.89 million. During the same period in the previous year, the firm posted $1.53 earnings per share. The business’s revenue was down 48.6% compared to the same quarter last year. On average, analysts anticipate that Atwood Oceanics, Inc. will post ($0.31) EPS for the current fiscal year.
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ATW has been the subject of several recent research reports. TheStreet downgraded Atwood Oceanics from a “c-” rating to a “d+” rating in a report on Monday, August 7th. ValuEngine upgraded Atwood Oceanics from a “hold” rating to a “buy” rating in a report on Thursday. Barclays PLC decreased their price target on Atwood Oceanics from $10.00 to $8.00 and set an “underweight” rating for the company in a report on Friday, August 11th. Raymond James Financial, Inc. upgraded Atwood Oceanics from an “underperform” rating to a “market perform” rating in a report on Wednesday, May 31st. Finally, Piper Jaffray Companies downgraded Atwood Oceanics from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $15.00 to $10.00 in a report on Monday, June 19th. Three research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target 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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