NEW YORK ( TheStreet) -- Atwood Oceanics (NYSE: ATW) hit a new 52-week high Thursday as it traded at $46.55 compared with its previous 52-Week high of $46.54. Atwood Oceanics is changing hands at $46.51 with 131,619 shares traded as of 11:49 a.m. ET. Average volume has been 722,500 shares over the past 30 days.

Atwood Oceanics has a market cap of $2.9 billion and is part of the basic materials sector and energy industry. Shares are up 22.6% year to date as of the close of trading on Wednesday.

Atwood Oceanics, Inc., together with its subsidiaries, engages in offshore drilling, and the completion of exploratory and developmental oil and gas wells. It also provides support, management, and consulting services. The company has a P/E ratio of 12.2, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 16.2.
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TheStreet Ratings rates Atwood Oceanics as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full Atwood Oceanics Ratings Report.

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