Analysis: Atwood Oceanics (NYSE:ATW) Target Upped Today
In a recent research report finalized by RBC Capital Markets on Friday morning, the firm, Atwood Oceanics (NYSE:ATW), had their TP cut to $14.00. Analusts presently have a solid “Sector Perform” rating on the stock.
From a total of 25 analysts covering Atwood Oceanics (NYSE:ATW) stock, 0 rate it a ”Buy”, 0 a “Sell”, and 0 a ”Hold”. This means that NaN 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 $18.54 with a 92.22% above today’s ($10.79) stock price. Atwood Oceanics was the topic of 19 analyst reports since August 3, 2015 according to the firm StockzIntelligence Inc. KLR initiated shares on December 14 with “Hold” rating. Macquarie Research maintained shares with “Neutral” rating and $16 target share price in a report from an October 2. Barclays Capital upgraded ATW stock in a recent report from December 4 to “Equal-Weight” rating. Credit Suisse maintained the rating on September 4. Credit Suisse has a “Neutral” rating and a $18 price target on shares. Finally, RBC Capital Markets maintained the stock with “Sector Perform” rating in a report issued on a November 11.
Approximately 7.68M shares of stock traded hands or 103.71% up from the average. Atwood Oceanics, Inc. (NYSE:ATW) has declined 63.79% since May 15, 2015 and is downtrending. It has underperformed by 59.98% the S&P500.
The overall sentiment of institutions has decreased to 0.93 in Q2 2015. Its down 0.30, from 1.23 in 2015Q2. The ratio turned negative, as 43 institutions have sold all the shares of Atwood Oceanics, Inc. that they owned while 89 funds have taken shares off the table. 27 funds have purchased shares for the first time while 96 added to their positions. These institutions now hold 83.56 million shares or 16.52% more than the 71.71 million shares they owned in 2015Q2.
The Fund Zpr Investment Management currently is holding shares equating to 3.24% of its total portfolio in Atwood Oceanics, Inc. representing a total of 179,427 shares. Another fund,Key Group Holdings (Cayman) Ltd., is holding a total of 2.69 million shares equating to 2.89% of their holdings. Additionally, Van Den Berg Management I Inc has a 1.20 million share stake in Atwood Oceanics, Inc. which represents 2.28% of their total portfolio. The Fund, Robotti Robert, based out of New York, has also built up a stake in the stock, which represents a total of 1.26% of their total portfolio. Finally Breithorn Capital Management, a fund which is based in the state of New York reported a total holdings of 102,460 shares.
Insider activity is a very important aspect to track on any stock. Going back to September 8, 2015, shareholders of Atwood Oceanics, Inc. have witnessed 1 insider purchase, and a total of 0 selling transactions equating to a net activity of approximately $84,279 . Saltiel Robert J. bought 5,000 shares worth approximately $84,279.
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 $785.55 million. The Firm has a fleet of approximately 13 mobile offshore drilling units located around the world. It has 1.62 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.”