NEW YORK ( TheStreet) -- Precision Drilling (NYSE: PDS) hit a new 52-week high Friday as it traded at $10.99 compared with its previous 52-Week high of $10.85. Precision is changing hands at $10.95 with 113,340 shares traded as of 9:37 a.m. ET. Average volume has been 867,900 shares over the past 30 days. Precision has a market cap of $2.9 billion and is part of the basic materials sector and energy industry. Shares are up 8.4% year to date as of the close of trading on Thursday. Precision Drilling Corporation, through its subsidiaries, provides onshore drilling, well servicing, and ancillary oilfield services to the oil and gas industry primarily in Canada and the United States. The company has a P/E ratio of 132.2, above the average energy industry P/E ratio of 108.1 and above the S&P 500 P/E ratio of 23.5. TheStreet Ratings rates Precision as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and disappointing return on equity. You can view the full Precision Ratings Report.