Analyst Rating Update on Atwood Oceanics (ATW)

Atwood Oceanics (ATW) : 13 analysts are covering Atwood Oceanics (ATW) and their average rating on the stock is 3.23, which is read as a Hold. 2 equity analysts believe that the stock has a bright future and the price doesnt capture all of its upside, hence they rate the stock as a Strong Buy. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. However, 3 analysts consider that the stock has more downward risks ahead, hence, they suggest a Strong Sell on the stock. 1 more analyst has given the stock a Sell recommendation. A total of 7 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

Atwood Oceanics (ATW) has been rated by 11 research analysts. Fundamentally, the highest shorterm price forecast for the stock is expected to reach $19 and the lowest price target forecast is $6. The average forecast of all the analysts is $11.36 and the expected standard deviation is $4.03.

Company shares have received an average consensus rating of Hold for the current week Also, Citigroup maintains its view on Atwood Oceanics (NYSE:ATW) according to the research report released by the firm to its investors. The shares have now been rated Neutral by the stock experts at the ratings house. Citigroup lowers the price target from $13 per share to $12 per share on Atwood Oceanics . The rating by the firm was issued on July 28, 2016.


Atwood Oceanics (NYSE:ATW): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $9.81 and $9.68 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $10.55. The buying momentum continued till the end and the stock did not give up its gains. It closed at $10.36, notching a gain of 5.61% for the day. The total traded volume was 5,851,732 . The stock had closed at $9.81 on the previous day.

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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