United Services Automobile Association reduced its position in shares of Atwood Oceanics, Inc. (NYSE:ATW) by 37.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,940 shares of the offshore driller’s stock after selling 12,980 shares during the period. United Services Automobile Association’s holdings in Atwood Oceanics were worth $209,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. Everence Capital Management Inc. acquired a new position in shares of Atwood Oceanics during the first quarter worth about $104,000. Brandes Investment Partners LP acquired a new position in shares of Atwood Oceanics during the first quarter worth about $117,000. Municipal Employees Retirement System of Michigan increased its position 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. increased its position 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 increased its position 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.
Shares of Atwood Oceanics, Inc. (NYSE ATW) traded down 1.25% on Friday, hitting $7.92. The stock had a trading volume of 7,403,165 shares. The stock has a market cap of $637.71 million, a PE ratio of 6.40 and a beta of 2.37. The company has a 50 day moving average price of $8.65 and a 200-day moving average price of $9.70. Atwood Oceanics, Inc. has a 12 month low of $6.12 and a 12 month high of $15.37.
Atwood Oceanics (NYSE:ATW) last announced its quarterly earnings data on Monday, May 8th. The offshore driller reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.66. The firm had revenue of $167.71 million during the quarter, compared to analysts’ expectations of $130.51 million. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The business’s quarterly revenue was down 43.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.89 earnings per share. On average, equities research analysts anticipate that Atwood Oceanics, Inc. will post ($0.27) earnings per share for the current year.
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ATW has been the topic of a number of research reports. Jefferies Group LLC set a $10.00 price target on Atwood Oceanics and gave the stock a “hold” rating in a research note on Tuesday, April 11th. Zacks Investment Research downgraded Atwood Oceanics from a “hold” rating to a “sell” rating in a research note on Tuesday, April 11th. Wood & Company raised Atwood Oceanics from an “accumulate” rating to a “buy” rating in a research note on Friday, April 28th. Barclays PLC reissued an “underweight” rating and set a $7.00 price objective (down from $11.00) on shares of Atwood Oceanics in a report on Monday, May 1st. Finally, Clarkson Capital raised Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 price objective for the company in a report on Friday, May 12th. Three investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $11.68.
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.
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