NEW YORK (TheStreet) -- Shares of Atwood Oceanics (ATW) are gaining 2.37% to $10.78 late Friday afternoon ahead of the company's 2016 fiscal third quarter results, due out before Monday's opening bell.

Analysts are projecting that earnings and revenue will drop year-over-year.

Wall Street is expecting the Houston-based offshore drilling contractor to post earnings of 90 cents per share on revenue of $232.74 million.

Last year, Atwood Oceanics earned $1.73 per diluted share on revenue of $330.56 million.

Additionally, oil prices are mixed today. Crude oil (WTI) is advancing 0.78% to $41.46 per barrel, while Brent crude is down 0.49% to $42.49 per barrel this afternoon.

Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.

The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures, notable return on equity and reasonable valuation levels.

But the team also finds that the stock has had a generally disappointing performance in the past year.

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: ATW

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