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Offshore driller Ensco said on Monday it plans to buy smaller rival Rowan Cos. in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.
Jefferies analyst Brad Handler reiterated a Hold rating on Atwood Oceanics (NYSE: ATW) yesterday and set a price target of $10. The company’s shares closed yesterday at $9.32. According to TipRanks.com, Handler is ranked 0 out of 5 stars with an average return of -7.6% and a 36.4% success rate. Handler covers the Basic Materials
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ATW – Piper Jaffray reiterates Hold rating, $9 PT. This price target represents a 11.94% upside over the stock’s previous closing price of $8.04.
ATW – Citigroup reiterates Neutral rating. Stock price at the time of this analyst call was $6.80.
Here are the weakest energy stocks in the S&P 1500 on Monday.
ATW – Barclays cuts PT to $8 from $10. This new price target represents a 26.38% upside over the stock’s previous closing price of $6.33.
ATW – Beats EPS loss estimates by $0.02. Misses on revenues.
Companies in the Materials sector have received a lot of coverage today as analysts weigh in on Schlumberger (NYSE: SLB) and Atwood Oceanics (NYSE: ATW). Schlumberger (NYSE: SLB) In a report issued on July 20, Bill Herbert from Piper Jaffray reiterated a Buy rating on Schlumberger (NYSE: SLB), with a price target of $76. The
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