NEW YORK, September 6, 2016 /PRNewswire/ --
The Oil and Gas Drilling and Exploration space is composed of companies that explore, develop, and operate oil and gas fields. The industry makes up between 4.6% and 6.5% of the global economy. Today, Stock-Callers.com reviews the following trades: Atwood Oceanics Inc. (NYSE: ATW), Patterson-UTI Energy Inc. (NASDAQ: PTEN), Rowan Cos. PLC (NYSE: RDC), and Bill Barrett Corp. (NYSE: BBG). Learn more about these stocks by accessing their free research reports at:
Shares in Houston, Texas headquartered Atwood Oceanics Inc. ended Friday's session 4.32% higher at $7.97 with a total trading volume of 2.74 million shares. The stock is trading 20.37% below its 200-day moving average. Shares of the Company, which engages in the drilling and completion of exploratory and developmental oil and gas wells worldwide, have a Relative Strength Index (RSI) of 35.01.
On August 1st, 2016, Atwood Oceanics announced that it had earned net income of $99.5 million, or $1.53 per diluted share, on revenues of $227.8 million for the quarter ended June 30th, 2016, compared to net income of $113.0 million, or $1.73 per diluted share, on revenues of $330.6 million for the quarter ended June 30th, 2015. During the three months ended June 30th, 2016, the company repurchased, through open market transactions, $145.8 million aggregate principal amount of Senior Notes for $97.4 million, including $2.4 million of accrued interest, representing an average discount of 34.8%.
On August 12th, 2016, research firm RBC Capital Markets reiterated its 'Sector Perform' rating on the Company's stock with a decrease of the target price from $14 a share to $11 a share. Free research report on ATW is available at:
Houston, Texas headquartered Patterson-UTI Energy Inc.'s shares rose 1.28%, closing the day at $19.74 with a total trading volume of 2.82 million shares. The stock has advanced 2.17% in the last month and 31.75% on an YTD basis. The Company's shares are trading 13.67% above their 200-day moving average. Additionally, shares of Patterson-UTI Energy, which through its subsidiaries, provides onshore contract drilling services to major and independent oil and natural gas operators in the US and Canada, have an RSI of 45.13.
On August 4th, 2016, Patterson-UTI Energy reported that for July 2016, the company had an average of 56 drilling rigs operating in the US and two rigs in Canada. The company cautioned that numerous factors in addition to average drilling rigs operating can impact its operating results and that a particular trend in the number of drilling rigs operating may or may not indicate a trend in or be indicative of the company's financial performance.
On August 16th, 2016, research firm Bank of America/ Merrill upgraded the Company's stock rating from 'Underperform' to 'Neutral'. The complimentary research report on PTEN can be downloaded at:
Last Friday, shares in Houston, Texas-based Rowan Cos. PLC gained 1.28%, closing the session at $12.65 with a total trading volume of 2.58 million shares. The stock is trading 18.40% below its 50-day moving average. Shares of the Company, which provides offshore oil and gas contract drilling services, have an RSI of 34.61.
On August 12th, 2016, research firm RBC Capital Markets reiterated its 'Sector Perform' rating on the Company's stock with a decrease of the target price from $22 a share to $16 a share.
On August 22nd, 2016, Rowan announced the appointment of Charles L. Szews to the Board of Directors, effective immediately. Mr. Szews currently serves as a director of Commercial Metals Company and previously served as a director of Gardner Denver Inc. and Oshkosh Corporation. Mr. Szews was recommended to the Company by one of its largest shareholders, Blue Harbour Group, L.P., which has entered into a Support Agreement in connection with Mr. Szews' appointment to the Board. Visit us today and access our complete research report on RDC at:
Denver, Colorado headquartered Bill Barrett Corp.'s stock finished the session 2.43% higher at $6.74 with a total trading volume of 1.39 million shares. The Company's shares have surged 13.85% in the last month and 71.50% on YTD basis. The stock is trading above its 50-day and 200-day moving averages by 10.30% and 18.96%, respectively. Additionally, shares of Bill Barrett, which acquires, explores for, and develops oil and natural gas resources in the US, have an RSI of 61.79.
On August 15th, 2016, Bill Barrett announced that it will resume its extended reach lateral ("XRL") development program in the Denver-Julesburg Basin during Q3 2016. It is expected that up to 12 gross XRL wells will spud prior to the end of year and be placed on initial production in Q1 2017. Get free access to your research report on BBG at:
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