Is it Now Time For Investors to Consider Buying Atwood Oceanics (NYSE:ATW) Shares? Barclays Upgrades The Company

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Atwood Oceanics (NYSE:ATW) Stock Upgrade

Barclays raised shares of Atwood Oceanics (NYSE:ATW) from a Underweight rating to a solid Equal Weight rating in a comprehensive report shared with investors and clients on Friday morning. The equities firm presently has a $18 TP on shares.

From a total of 24 analysts covering Atwood Oceanics (NYSE:ATW) stock, 9 rate it a ”Buy”, 5 a “Sell”, and 17 a ”Hold”. This means that 29% of the ratings are positive. The highest target price is $40 while the lowest target price is $11. The mean of all analyst targets is $19 with a 46.87% above today’s ($14.68) stock price. Atwood Oceanics was the topic of 16 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. Guggenheim upgraded shares on November 30 to “Buy” rating. Vetr downgraded shares to “Buy” rating and $17.64 target share price in a report from a September 1. Clarksons Platou downgraded ATW stock in a recent report from October 21 to “Neutral” rating. Global Hunter Securities downgraded the rating on August 21. Global Hunter Securities has a “Neutral” rating and a $18 price target on shares. Finally, Credit Suisse maintained the stock with “Neutral” rating in a report issued on a September 4.

Approximately 1.61M shares of stock traded hands. Atwood Oceanics, Inc. (NYSE:ATW) has declined 52.22% since May 1, 2015 and is downtrending. It has underperformed by 49.44% the S&P500.

Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental gas and oil wells. The company has a market cap of $992.86 million. The Firm has a fleet of approximately 13 mobile offshore drilling units located around the world. It has 2.21 P/E ratio. The Company’s fleet includes Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups.

According to Zacks Investment Research, “Atwood Oceanics, Inc., its international operating subsidiary, Atwood Oceanics Pacific Limited and related subsidiaries are engaged in the business of international offshore drilling and completion of exploratory and developmental oil and gas wells as well as related support, management, and consulting services. Enhancing shareholder value through safe, quality operations is at the core of all of the Atwood Group’s activities.” Get a free copy of the Zacks research report on Atwood Oceanics, Inc. (ATW).

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