Plains Exploration & Production Stock Hits New 52-Week High (PXP)

NEW YORK (TheStreet) -- Plains Exploration & Production Company (NYSE:PXP) hit a new 52-week high Wednesday as it is currently trading at $42.40, above its previous 52-week high of $42.03 with 58,154 shares traded as of 9:30 a.m. ET. Average volume has been 2.8 million shares over the past 30 days.

Plains Exploration & Production has a market cap of $5.25 billion and is part of the basic materials sector and energy industry. Shares are up 13.8% year to date as of the close of trading on Tuesday.

Plains Exploration & Production Company, an independent oil and gas company, primarily engages in acquiring, developing, exploring, and producing oil and gas in California and Louisiana. The company has a P/E ratio of 64.7, above the average energy industry P/E ratio of 62.1 and above the S&P 500 P/E ratio of 17.7.

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TheStreet Ratings rates Plains Exploration & Production as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, generally poor debt management and disappointing return on equity. You can view the full Plains Exploration & Production Ratings Report.

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