Dallas, Texas 02/06/2014 (FINANCIALSTRENDS) – Last Tuesday saw Atwood Oceanics, Inc. (NYSE:ATW) posting its fourth quarter results. Till now this company is being seen as earnings rich offshore drilling company. The last trading session also saw Atwood Oceanics entering into oversold territory and it touched as RSI reading of 29.6 and its share price touched a low of $45.42 per share. This is also seen as sign of heavy selling process going on a one can enter into this stock to reap bumper profits after few months.
The 52 week low of this share is $43.91 and 52 week high is $59.49. Though Raymond James has downgraded the Atwood Oceanics Inc. from outperform rating to market perform rating. If we talk about the 50 day moving average of Atwood Oceanics Inc then it comes around to be $50.52 and its 200 day average comes around to be $54.52. The current market capitalization of Atwood Oceanics Inc. is around $2.967 billion with a P/E ratio of 8.53.
Something about Atwood Oceanics, Inc. (NYSE:ATW)
Atwood Oceanics Inc. is basically engaged into offshore drilling activities and along with its subsidiaries it acts as an offshore drilling contractor. It also completes the exploration and development of different oil and natural gas wells at different locations all around the world.
As per the recent news Atwood Oceanics, Inc. (NYSE:ATW) has about 13 mobile offshore drilling units and company keeps on expanding its current feet of drilling units. Atwood Oceanics Inc. was founded in 1968 and has its headquarters in Houston, Texas. Company has also won numerous awards and some of them are Gold and Grand Award, British Gas Chairman Awards, Floater Rig of the Year and many other such esteemed awards. Atwood Oceanics Inc. was also named as Best Small Company in the year 2012 by Forbes and also one of the Fortune Magazine’s 100 Fastest Growing Company in 2010.