Atwood Oceanics is engaged in offshore drilling, exploration and the development of oil and gas wells. For the quarter ended June 30, earnings before interest, taxes, depreciation and amortization (EBITDA) was $95 million, better than analysts expected. The results stemmed from improved utilization of the deep-water semisubmersibles Eagle and Falcon and stable operating expenses. The company's earnings per share increased from 21 cents in 2004 to $3.89 in 2009. Analysts polled by Bloomberg expect EPS of $4.02 and $4.24 for 2010 and 2011, respectively. Of the 21 analysts covering the stock, 10 have buy recommendations, seven have holds and four have sells. Although the stock has gained 34.3% since August 23, it's still trading at an attractive forward P/E of 8.3. During the past 12 months, the company's return on equity has been 20.5%. This compares with 16.0% for Schlumberger ( SLB), 16.0% for Halliburton ( HAL) 11.0% for National-Oilwell Varco ( NOV) and 14.2% for Transocean ( RIG).