CNH Partners LLC Buys New Stake in Atwood Oceanics, Inc. (NYSE:ATW)

CNH Partners LLC acquired a new stake in Atwood Oceanics, Inc. (NYSE:ATW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 3,361,829 shares of the offshore driller’s stock, valued at approximately $27,399,000. CNH Partners LLC owned about 4.18% of Atwood Oceanics as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of ATW. Great West Life Assurance Co. Can increased its stake in Atwood Oceanics by 26.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 100,337 shares of the offshore driller’s stock valued at $956,000 after buying an additional 20,697 shares during the period. Bank of New York Mellon Corp increased its stake in Atwood Oceanics by 69.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,991,238 shares of the offshore driller’s stock valued at $18,977,000 after buying an additional 813,666 shares during the period. Comerica Bank grew its stake in shares of Atwood Oceanics by 29.5% in the 1st quarter. Comerica Bank now owns 82,936 shares of the offshore driller’s stock worth $650,000 after purchasing an additional 18,912 shares during the last quarter. Swiss National Bank grew its stake in shares of Atwood Oceanics by 19.2% in the 1st quarter. Swiss National Bank now owns 123,750 shares of the offshore driller’s stock worth $1,179,000 after purchasing an additional 19,900 shares during the last quarter. Finally, Karp Capital Management Corp acquired a new position in shares of Atwood Oceanics in the 1st quarter worth approximately $1,091,000. Hedge funds and other institutional investors own 91.97% of the company’s stock.

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Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. The firm had revenue of $117.20 million for the quarter, compared to analyst estimates of $125.89 million. Atwood Oceanics had a positive return on equity of 2.25% and a negative net margin of 3.06%. The company’s revenue was down 48.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.53 EPS.

Several brokerages have recently issued reports on ATW. Zacks Investment Research cut shares of Atwood Oceanics from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Jefferies Group LLC set a $10.00 target price on shares of Atwood Oceanics and gave the stock a “hold” rating in a research report on Thursday, October 5th. ValuEngine downgraded shares of Atwood Oceanics from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Piper Jaffray Companies restated a “hold” rating and set a $9.00 price target on shares of Atwood Oceanics in a report on Tuesday, September 19th. Finally, Citigroup Inc. restated a “neutral” rating on shares of Atwood Oceanics in a report on Thursday, August 31st. Five investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. Atwood Oceanics has a consensus rating of “Hold” and a consensus target price of $11.67.

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.

Institutional Ownership by Quarter for Atwood Oceanics (NYSE:ATW)

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