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Fly News Breaks for November 20, 2015
ATW
Nov 20, 2015 | 07:59 EDT
Stephens analyst Matthew Marietta said he was not surprised to see Atwood Oceanics lower its dividend to 7.5c from 25c per share, noting that management had discussed such a possibility on the company's Q4 call. Marietta, who thinks the $45M of annual cash savings from the change should help with newbuild CapEx milestones next year and give the company strategic flexibility, keeps an Overweight rating and $21 price target on Atwood.
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