Johnson Rice Downgrades Atwood Oceanics to Hold

Brokerage firm Johnson Rice Downgrades its rating on Atwood Oceanics(NYSE:ATW). The shares have been rated Hold. Previously, the analysts had a Buy rating on the shares. The rating by Johnson Rice was issued on Jun 13, 2016.

In a different note, On May 31, 2016, KLR Group said it Upgrades its rating on Atwood Oceanics. The shares have been rated ‘Buy’ by the firm. On May 19, 2016, Citigroup said it Maintains its rating on Atwood Oceanics. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 16, 2016, Citigroup said it Maintains its rating on Atwood Oceanics. In the research note, the firm Raises the price-target to $10.00 per share. The shares have been rated ‘Neutral’ by the firm. On May 9, 2016, Jefferies said it Downgrades its rating on Atwood Oceanics. In the research note, the firm Raises the price-target to $9.00 per share. The shares have been rated ‘Hold’ by the firm. On Mar 28, 2016, Barclays said it Downgrades its rating on Atwood Oceanics. In the research note, the firm Lowers the price-target to $7.00 per share. The shares have been rated ‘Underweight’ by the firm. On Mar 22, 2016, RBC Capital said it Maintains its rating on Atwood Oceanics. In the research note, the firm Raises the price-target to $7.75 per share. The shares have been rated ‘Sector Perform’ by the firm.

Atwood Oceanics (ATW) made into the market gainers list on Fridays trading session with the shares advancing 10.09% or 1.13 points. Due to strong positive momentum, the stock ended at $12.33, which is also near the day’s high of $12.54. The stock began the session at $11.46 and the volume stood at 40,26,438 shares. The 52-week high of the shares is $29.35 and the 52 week low is $4.82. The company has a current market capitalization of $799 M and it has 6,47,97,106 shares in outstanding.

Atwood Oceanics(ATW) last announced its earnings results on May 5, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $296.35M. Analysts had an estimated revenue of $290.49M. Earnings per share were $1.76. Analysts had estimated an EPS of $1.57.

Several Insider Transactions has been reported to the SEC. On Feb 5, 2016, Robert J. Saltiel (CEO) purchased 10,000 shares at $7.31 per share price.Also, On Jan 12, 2015, Barry Michael Smith (Sr. VP – Technical Services) sold 818 shares at $26.53 per share price.On Jan 12, 2015, Mark W. Smith (VP, CAO & Controller) sold 568 shares at $26.53 per share price, according to the Form-4 filing with the securities and exchange commission.

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 Company’s 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 Company’s 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 12000 feet.

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