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Atwood Oceanics: Positioned Well Despite Analyst Concerns

  • Atwood Oceanics remains well positioned for the offshore drilling market.
  • Barclays placed an extremely negative call on the deepwater drilling segment even after huge declines by the associated stocks.
  • The company has a modern fleet of rigs that already produce the majority of EBITDA.
The negative call on the offshore drillers by Barclays is strange considering the segment is already beaten down. The analyst call was very bearish on some of the drillers that lack a fleet of modern rigs, but the call was rather neutral on Atwood Oceanics (NYSE:ATW) despite the positive rig position.

Read the full article at Seeking Alpha.

Disclosure: Long ATW. Please review the disclaimer page for more details. 


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