OppenheimerFunds Inc. boosted its position in Atwood Oceanics, Inc. (NYSE:ATW) by 53.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,656 shares of the offshore driller’s stock after buying an additional 24,335 shares during the period. OppenheimerFunds Inc.’s holdings in Atwood Oceanics were worth $663,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Everence Capital Management Inc. purchased a new stake in shares of Atwood Oceanics during the first quarter worth about $104,000. Brandes Investment Partners LP purchased a new stake in shares of Atwood Oceanics during the first quarter worth about $117,000. Municipal Employees Retirement System of Michigan raised its stake in shares of 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 worth $159,000 after buying an additional 2,880 shares in the last quarter. Eqis Capital Management Inc. raised its stake in shares of Atwood Oceanics by 24.9% in the first quarter. Eqis Capital Management Inc. now owns 17,121 shares of the offshore driller’s stock worth $163,000 after buying an additional 3,416 shares in the last quarter. Finally, Mason Street Advisors LLC raised its stake in shares of Atwood Oceanics by 32.9% in the first quarter. Mason Street Advisors LLC now owns 17,499 shares of the offshore driller’s stock worth $167,000 after buying an additional 4,329 shares in the last quarter. 91.97% of the stock is currently owned by hedge funds and other institutional investors.
Atwood Oceanics, Inc. (NYSE:ATW) traded down 3.04% on Friday, hitting $7.65. The stock had a trading volume of 3,836,540 shares. The firm has a market cap of $615.97 million, a PE ratio of 6.18 and a beta of 2.36. Atwood Oceanics, Inc. has a 12-month low of $6.12 and a 12-month high of $15.37. The company’s 50 day moving average is $8.23 and its 200 day moving average is $9.35.
Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Thursday, August 3rd. The offshore driller reported ($0.05) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The firm had revenue of $117.20 million during the quarter, compared to analyst estimates of $125.89 million. Atwood Oceanics had a positive return on equity of 2.27% and a negative net margin of 3.06%. Atwood Oceanics’s quarterly revenue was down 48.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 earnings per share. On average, equities research analysts expect that Atwood Oceanics, Inc. will post ($0.25) EPS for the current fiscal year.
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A number of equities analysts have weighed in on the company. ValuEngine raised Atwood Oceanics from a “hold” rating to a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised Atwood Oceanics from a “hold” rating to a “buy” rating and set a $8.75 price objective on the stock in a research note on Tuesday, July 25th. Jefferies Group LLC set a $10.00 price objective on Atwood Oceanics and gave the stock a “hold” rating in a research note on Monday, June 19th. Piper Jaffray Companies lowered Atwood Oceanics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $15.00 to $10.00 in a research note on Monday, June 19th. Finally, Seaport Global Securities raised Atwood Oceanics from a “sell” rating to a “neutral” rating in a research note on Friday, June 2nd. Three equities research analysts have rated the stock with a sell rating, seventeen 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 currently has an average rating of “Hold” and a consensus target price of $11.50.
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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