Atwood Oceanics (ATW) Releases Earnings Results, Beats Expectations By $0.30 EPS

Atwood Oceanics (ATW) reported quarterly earnings results on Thursday, May-5-2016. The company said it had a profit of $1.89 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.30. Analysts had a consensus of $1.59. The company posted revenue of $296.40 million in the period, compared to analysts expectations of $291.31 million. The company’s revenue was down -15.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.89 EPS.

Many Wall Street Analysts have commented on Atwood Oceanics. Shares were Downgraded by Barclays on Mar 28, 2016 to ” Underweight” and Lowered the Price Target to $ 6 from a previous price target of $7 .Atwood Oceanics was Downgraded by Goldman to ” Sell” on Mar 11, 2016. Atwood Oceanics was Initiated by Citigroup to “Neutral” on Feb 29, 2016.

Atwood Oceanics closed down -0.12 points or -1.35% at $8.74 with 44,25,242 shares getting traded on Wednesday. Post opening the session at $8.92, the shares hit an intraday low of $8.595 and an intraday high of $9.4 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

In a different news, on Feb 5, 2016, Robert J. Saltiel (CEO) purchased 10,000 shares at $7.31 per share price. According to the SEC, 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.

Atwood Oceanics

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