NEW YORK ( TheStreet) -- Helmerich & Payne (NYSE: HP) hit a new 52-week high Wednesday as it traded at $61.52 compared with its previous 52-Week high of $61.09. Helmerich & Payne is changing hands at $61.53 with 243,883 shares traded as of 10:38 a.m. ET. Average volume has been 1.1 million shares over the past 30 days. Helmerich & Payne has a market cap of $6.4 billion and is part of the basic materials sector and energy industry. Shares are up 24.1% year to date as of the close of trading on Tuesday. Helmerich & Payne, Inc. engages in the contract drilling of oil and gas wells in the United States and internationally. The company has a P/E ratio of 19.9, below the average energy industry P/E ratio of 33 and below the S&P 500 P/E ratio of 23.4. TheStreet Ratings rates Helmerich & Payne as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance, increase in net income and good cash flow from operations. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. You can view the full Helmerich & Payne Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.