Atwood Oceanics, Inc. (ATW) Bonds Drop 1.3% During Trading

An issue of Atwood Oceanics, Inc. (NYSE:ATW) bonds fell 1.3% as a percentage of their face value during trading on Thursday. The high-yield issue of debt has a 6.5% coupon and will mature on February 1, 2020. The debt is now trading at $96.00 and was trading at $97.25 last week. Price changes in a company’s bonds in credit markets often anticipate parallel changes in its stock price.

ATW has been the topic of a number of research reports. Zacks Investment Research cut Atwood Oceanics from a “hold” rating to a “sell” rating in a research report on Monday, April 17th. Jefferies Group LLC set a $10.00 price target on Atwood Oceanics and gave the stock a “hold” rating in a research report on Tuesday, April 11th. Wood & Company upgraded Atwood Oceanics from an “underperform” rating to a “market perform” rating in a research report on Wednesday, May 31st. Barclays PLC reiterated an “underweight” rating and set a $7.00 price target (down from $11.00) on shares of Atwood Oceanics in a research report on Monday, May 1st. Finally, Clarkson Capital upgraded Atwood Oceanics from a “neutral” rating to a “buy” rating and set a $12.00 price target on the stock in a research report on Friday, May 12th. Three equities research analysts have rated the stock with a sell rating, seventeen have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. Atwood Oceanics currently has an average rating of “Hold” and a consensus price target of $11.68.

Atwood Oceanics, Inc. (NYSE:ATW) opened at 7.92 on Friday. The firm’s 50-day moving average price is $8.65 and its 200-day moving average price is $9.70. The company has a market capitalization of $637.71 million, a price-to-earnings ratio of 6.40 and a beta of 2.37. Atwood Oceanics, Inc. has a 52 week low of $6.12 and a 52 week high of $15.37.

Atwood Oceanics (NYSE:ATW) last posted its quarterly earnings data on Monday, May 8th. The offshore driller reported $0.37 earnings per share for the quarter, topping the consensus estimate of ($0.29) by $0.66. Atwood Oceanics had a net margin of 11.40% and a return on equity of 4.35%. The firm had revenue of $167.71 million during the quarter, compared to analysts’ expectations of $130.51 million. During the same quarter in the previous year, the company posted $1.89 EPS. Atwood Oceanics’s revenue was down 43.4% on a year-over-year basis. On average, equities analysts expect that Atwood Oceanics, Inc. will post ($0.27) earnings per share for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capstone Asset Management Co. boosted its position in Atwood Oceanics by 1.0% in the second quarter. Capstone Asset Management Co. now owns 35,449 shares of the offshore driller’s stock valued at $289,000 after buying an additional 350 shares during the period. Public Employees Retirement System of Ohio boosted its position in Atwood Oceanics by 6.0% in the first quarter. Public Employees Retirement System of Ohio now owns 19,583 shares of the offshore driller’s stock valued at $187,000 after buying an additional 1,104 shares during the period. Mutual of America Capital Management LLC boosted its position in Atwood Oceanics by 0.8% in the first quarter. Mutual of America Capital Management LLC now owns 242,108 shares of the offshore driller’s stock valued at $2,307,000 after buying an additional 1,803 shares during the period. Ingalls & Snyder LLC boosted its position in Atwood Oceanics by 7.9% in the first quarter. Ingalls & Snyder LLC now owns 30,125 shares of the offshore driller’s stock valued at $287,000 after buying an additional 2,200 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Atwood Oceanics by 2.3% in the first quarter. Alliancebernstein L.P. now owns 102,800 shares of the offshore driller’s stock valued at $980,000 after buying an additional 2,300 shares during the period.

WARNING: “Atwood Oceanics, Inc. (ATW) Bonds Drop 1.3% During Trading” was first published by Transcript Daily and is the property of of Transcript Daily. If you are reading this article on another domain, it was illegally stolen and reposted in violation of US and international trademark & copyright legislation. The legal version of this article can be read at https://transcriptdaily.com/2017/07/22/atwood-oceanics-inc-atw-bonds-drop-1-3-during-trading.html.

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.

Receive News & Ratings for Atwood Oceanics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atwood Oceanics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply