Atwood Oceanics (ATW) : Analyst Rating Update

Atwood Oceanics (ATW) : Zacks Investment Research ranks Atwood Oceanics (ATW) as 3, which is a Hold recommendation. 2 research analysts consider that the stocks fundamentals point to a bright future, hence they rate the stock as a Strong Buy. Not everyone is convinced about the stocks future, hence, the stock receives 2 Sell recommendation. 2 more believe that the stock has more downside risks, hence they propose a Strong Sell. A total of 7 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 13 research analysts is 3.15, which indicates as a Hold.

Atwood Oceanics (ATW) : The consensus price target for Atwood Oceanics (ATW) is $11.27 for the short term with a standard deviation of $4. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $19, however, the pessimist price target for the company is $6.

Atwood Oceanics (NYSE:ATW): The stock opened at $12.63 on Wednesday but the bulls could not build on the opening and the stock topped out at $12.63 for the day. The stock traded down to $11.97 during the day, due to lack of any buying support eventually closed down at $12.38 with a loss of -3.05% for the day. The stock had closed at $12.77 on the previous day. The total traded volume was 4,317,727 shares.

Also, Equity Analysts at the Brokerage Firm, Johnson Rice, downgrades their rating on the shares of Atwood Oceanics (NYSE:ATW). Johnson Rice has a Hold rating on the shares. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 13, 2016. The company shares have dropped -48.03% from its 1 Year high price. On Jul 8, 2015, the shares registered one year high at $25.54 and the one year low was seen on Feb 3, 2016. The 50-Day Moving Average price is $11.69 and the 200 Day Moving Average price is recorded at $9.18.

Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells. The Company has a fleet of approximately 13 mobile offshore drilling units located around the world. The Companys fleet includes Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. Its segment Offshore Contract Drilling Services consists of mobile offshore drilling units and related equipment comprising its offshore rig fleet. Its segment conducts offshore contract drilling operations located in the United States, Gulf of Mexico, the Mediterranean Sea, offshore West Africa, offshore Southeast Asia and offshore Australia. The Companys projects are Atwood Advantage, Atwood Achiever, Atwood Admiral and Atwood Archer. The Atwood Advantage, Atwood Achiever, Atwood Admiral and Atwood Archer are DP-3 dynamically-positioned, dual derrick, ultra-deepwater drillships rated to operate in water depths approximately up to 12,000 feet.

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