Follow The Short Interest: Is Buying Atwood Oceanics Incorporated (NYSE:ATW), Having Higher Short Interest a Winning Strategy?

November 25, 2016 - By Dolores Ford   ·   0 Comments

Follow The Short Interest: Is Buying Atwood Oceanics Incorporated (NYSE:ATW), Having Higher Short Interest a Winning Strategy?

The stock of Atwood Oceanics Incorporated (NYSE:ATW) registered an increase of 3.63% in short interest. ATW’s total short interest was 25.18M shares in November as published by FINRA. Its up 3.63% from 24.30 million shares, reported previously. With 3.60 million shares average volume, it will take short sellers 7 days to cover their ATW’s short positions. The short interest to Atwood Oceanics Incorporated’s float is 41.78%. The stock increased 2.73% or $0.23 during the last trading session, hitting $8.66. About 100 shares traded hands. Atwood Oceanics, Inc. (NYSE:ATW) has declined 0.57% since April 22, 2016 and is downtrending. It has underperformed by 5.98% the S&P500.

Atwood Oceanics, Inc. is an offshore drilling firm engaged in the drilling and completion of exploration and development wells for the global gas and oil industry. The company has a market cap of $576.53 million. The Firm owns various types of drilling rigs, such as Ultra-Deepwater Rigs, Deepwater Semisubmersibles and Jackups. It has a 2.12 P/E ratio. 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.

Insitutional Activity: The institutional sentiment increased to 1.1 in Q2 2016. Its up 0.25, from 0.85 in 2016Q1. The ratio is positive, 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.
Grantham Mayo Van Otterloo And Ltd Co last reported 39,000 shares in the company. One Natl Association accumulated 0.03% or 32,148 shares. Amp Investors Ltd holds 0% of its portfolio in Atwood Oceanics, Inc. (NYSE:ATW) for 30,255 shares. Thrivent Fin For Lutherans holds 0.02% of its portfolio in Atwood Oceanics, Inc. (NYSE:ATW) for 318,727 shares. D E Shaw And Inc, a New York-based fund reported 295,580 shares. Piedmont Limited Liability Company holds 0% of its portfolio in Atwood Oceanics, Inc. (NYSE:ATW) for 186 shares. Amica Retiree Medical Trust accumulated 1,820 shares or 0.02% of the stock. Vanguard Gp Inc has invested 0% of its portfolio in Atwood Oceanics, Inc. (NYSE:ATW). The France-based Bnp Paribas Sa has invested 0.02% in Atwood Oceanics, Inc. (NYSE:ATW). Nationwide Fund Advisors, a Pennsylvania-based fund reported 241,666 shares. Moreover, Prudential has 0.02% invested in Atwood Oceanics, Inc. (NYSE:ATW) for 996,363 shares. Moreover, Eulav Asset Mgmt has 0.03% invested in Atwood Oceanics, Inc. (NYSE:ATW) for 42,200 shares. Blackrock Group Ltd holds 81,161 shares or 0% of its portfolio. Robotti Robert holds 1.23 million shares or 5.53% of its portfolio. Mutual Of America Mgmt Limited Liability last reported 0.03% of its portfolio in the stock.

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

Out of 25 analysts covering Atwood Oceanics (NYSE:ATW), 2 rate it a “Buy”, 5 “Sell”, while 18 “Hold”. This means 8% are positive. $39 is the highest target while $5 is the lowest. The $9.47 average target is 9.35% above today’s ($8.66) stock price. Atwood Oceanics has been the topic of 58 analyst reports since August 3, 2015 according to StockzIntelligence Inc. The firm earned “Underweight” rating on Monday, March 28 by Barclays Capital. Howard Weil downgraded Atwood Oceanics, Inc. (NYSE:ATW) on Monday, December 14 to “Sector Perform” rating. RBC Capital Markets maintained Atwood Oceanics, Inc. (NYSE:ATW) rating on Tuesday, March 22. RBC Capital Markets has “Sector Perform” rating and $10 price target. The stock of Atwood Oceanics, Inc. (NYSE:ATW) earned “Buy” rating by KLR Group on Tuesday, May 31. The rating was upgraded by KLR Group on Thursday, February 4 to “Accumulate”. The stock has “Hold” rating given by Johnson Rice on Monday, June 13. The firm has “Sell” rating by Citigroup given on Thursday, November 17. iBERIA Capital Partners downgraded the stock to “Sector Perform” rating in Wednesday, November 16 report. The firm has “Neutral” rating given on Thursday, August 25 by Citigroup. Jefferies downgraded the stock to “Hold” rating in Monday, May 9 report.

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.

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.

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By Dolores Ford

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