Short Term Price Target on Atwood Oceanics (ATW)

Atwood Oceanics (NYSE:ATW) : The consensus price target for Atwood Oceanics (NYSE:ATW) is $11.27 for the short term with a standard deviation of $4. The most optimist securities analyst among the 11 who monitor the stock believes that the stock can reach $19, however, the pessimist price target for the company is $6.

Atwood Oceanics, Inc. has dropped 5.65% in the last five trading days, however, the shares have posted positive gains of 16.14% in the last 4 weeks. Atwood Oceanics, Inc. is up 47.82% in the last 3-month period. Year-to-Date the stock performance stands at 23.29%. Also, Equity analysts at the Brokerage firm Johnson Rice downgrades its rating on Atwood Oceanics (NYSE:ATW). The rating major has initiated the coverage with hold rating on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on June 13, 2016.

Atwood Oceanics (NYSE:ATW) : 2 brokerage houses believe that Atwood Oceanics (NYSE:ATW) is a Strong Buy at current levels. 7 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Atwood Oceanics (NYSE:ATW). Zacks Investment Research suggests a Hold with a rank of 3. 2 analysts perceive the stock to be overvalued at the existing levels, hence their call is to Sell the stock. 2 others believe that the stock has run up ahead of its fundamentals and advise a Strong Sell on the stock.The median of all the 13 Wall Street Analysts endorse the stock as a Hold with a rating of 3.15.

Atwood Oceanics (NYSE:ATW): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $12.35 and $11.83 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $12.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $12.52, notching a gain of 0.97% for the day. The total traded volume was 4,436,181 . The stock had closed at $12.40 on the previous day.

In an insider trading activity, The Securities and Exchange Commission has divulged in a Form 4 filing that the CEO of Atwood Oceanics Inc, Saltiel Robert J. had purchased shares worth of $73,100 in a transaction dated on February 5, 2016. A total of 10,000 shares were purchased at a price of $7.31 per share. The information is based on open market trades at the market prices.Option exercises are not covered.

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 Companys 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 Companys 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 12,000 feet.

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