NEW YORK ( TheStreet) -- Atwood Oceanics (NYSE: ATW) hit a new 52-week high Tuesday as it is currently trading at $46.94, above its previous 52-week high of $46.92 with 403,108 shares traded as of three p.m. ET. Average volume has been 753,200 shares over the past 30 days.

Atwood Oceanics has a market cap of $3 billion and is part of the basic materials sector and energy industry. Shares are up 18.1% year to date as of the close of trading on Monday.

Atwood Oceanics, Inc., together with its subsidiaries, engages in offshore drilling, and the completion of exploratory and developmental oil and gas wells. The company owns semisubmersible rigs, semisubmersible tender assist rigs, jack-up drilling rigs, and submersible drilling rigs. 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 17.7.
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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, revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. You can view the full Atwood Oceanics Ratings Report.

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