Price Action To Observe: Will Atwood Oceanics, Inc. Short Squeeze Soon?

Price Action To Observe: Will Atwood Oceanics, Inc. Short Squeeze Soon?

The stock of Atwood Oceanics, Inc. (NYSE:ATW) is a huge mover today! The stock decreased 2.52% or $0.2 during the last trading session, hitting $7.74. About 3.86 million shares traded hands or 0.26% up from the average. Atwood Oceanics, Inc. (NYSE:ATW) has declined 12.17% since April 14, 2016 and is downtrending. It has underperformed by 16.85% the S&P500.
The move comes after 9 months negative chart setup for the $494.09 million company. It was reported on Nov, 16 by Barchart.com. We have $6.66 PT which if reached, will make NYSE:ATW worth $69.17 million less.

Atwood Oceanics, Inc. (NYSE:ATW) Ratings Coverage

Out of 24 analysts covering Atwood Oceanics (NYSE:ATW), 3 rate it a “Buy”, 4 “Sell”, while 17 “Hold”. This means 13% are positive. Atwood Oceanics has been the topic of 55 analyst reports since August 3, 2015 according to StockzIntelligence Inc. Macquarie Research maintained the shares of ATW in a report on Friday, February 5 with “Neutral” rating. Iberia Capital Partners maintained Atwood Oceanics, Inc. (NYSE:ATW) rating on Thursday, February 4. Iberia Capital Partners has “Outperform” rating and $8.50 price target. On Tuesday, March 22 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. The stock of Atwood Oceanics, Inc. (NYSE:ATW) earned “Sector Perform” rating by Howard Weil on Wednesday, September 14. Macquarie Research maintained Atwood Oceanics, Inc. (NYSE:ATW) rating on Wednesday, September 9. Macquarie Research has “Neutral” rating and $17 price target. The firm has “Sell” rating given on Thursday, July 14 by Seaport Global. The rating was downgraded by Goldman Sachs on Friday, March 11 to “Sell”. RBC Capital Markets maintained the shares of ATW in a report on Thursday, February 4 with “Sector Perform” rating. Guggenheim upgraded Atwood Oceanics, Inc. (NYSE:ATW) on Monday, November 30 to “Buy” rating. The stock of Atwood Oceanics, Inc. (NYSE:ATW) earned “Neutral” rating by Macquarie Research on Friday, October 2.

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.”

Insitutional Activity: The institutional sentiment decreased to 0.85 in Q2 2016. Its down 0.05, from 0.9 in 2016Q1. The ratio dived, as 33 funds sold all Atwood Oceanics, Inc. shares owned while 70 reduced positions. 25 funds bought stakes while 63 increased positions. They now own 71.30 million shares or 1.28% less from 72.22 million shares in 2016Q1.
Woodstock holds 0.05% or 18,501 shares in its portfolio. The Illinois-based Alyeska Inv Group Lp has invested 0.1% in Atwood Oceanics, Inc. (NYSE:ATW). Old Mutual Investors (Uk) holds 0.3% or 1.29M shares in its portfolio. Allianz Asset Mngmt Ag accumulated 0% or 332,375 shares. Meeder Asset Mngmt accumulated 0.08% or 68,424 shares. Advisor Prtn Limited Liability Corp has 0.05% invested in the company for 11,564 shares. Profund Advisors Limited Liability Co has 24,631 shares for 0.01% of their US portfolio. Deere And Company accumulated 17,308 shares or 0.01% of the stock. United Automobile Association has invested 0% of its portfolio in Atwood Oceanics, Inc. (NYSE:ATW). Tiaa Cref Limited owns 298,609 shares or 0% of their US portfolio. Van Den Berg Management I Incorporated reported 1.64 million shares or 2.63% of all its holdings. The Massachusetts-based Grantham Mayo Van Otterloo And Communication Limited Liability Corporation has invested 0% in Atwood Oceanics, Inc. (NYSE:ATW). Pnc Svcs has 0% invested in the company for 892 shares. Virginia Retirement Et Al reported 43,900 shares or 0.01% of all its holdings. California Employees Retirement, a California-based fund reported 324,100 shares.

Another recent and important Atwood Oceanics, Inc. (NYSE:ATW) news was published by Fool.com which published an article titled: “Atwood Oceanics, Inc. Earnings Plunge on Charges, Contract Roll-Offs” on November 14, 2016.

ATW Company Profile

Atwood Oceanics, Inc., incorporated on October 9, 1968, is an offshore drilling company. The Firm is engaged in the drilling and completion of exploration and development wells for the global gas and oil industry. The Firm owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. The Company’s Ultra-deepwater Rigs and Deepwater Semisubmersibles include Atwood Achiever, Atwood Archer, Atwood Admiral, Atwood Advantage, Atwood Condor, Atwood Eagle and Atwood Osprey. The Atwood Achiever is an ultra-deepwater drillship, operating offshore Northwest Africa. The Atwood Advantage is an ultra-deepwater drillship, operating in the United States Gulf of Mexico. The Atwood Condor is an ultra-deepwater semisubmersible, operating in the United States Gulf of Mexico. The Atwood Osprey is an ultra-deepwater semisubmersible, and the Atwood Eagle, a deepwater semisubmersible, are both operating offshore Australia. The Atwood Admiral and Atwood Archer are ultra-deepwater drillships operating in water depths over 12,000 feet.

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