NEW YORK ( TheStreet) -- Contango Oil & Gas Company (AMEX: MCF) hit a new 52-week high Tuesday as it traded at $60.49 compared with its previous 52-Week high of $60.48. Contango Oil & Gas is changing hands at $60.48 with 26,771 shares traded as of 10:11 a.m. ET. Average volume has been 106,500 shares over the past 30 days. Contango Oil & Gas has a market cap of $929.4 million and is part of the basic materials sector and energy industry. Shares are up 2.4% year to date as of the close of trading on Friday. Contango Oil & Gas Company, together with its subsidiaries, engages in the exploration, development, production, and acquisition of oil and natural gas properties primarily offshore in the Gulf of Mexico. The company also holds interests in an alternative energy company. The company has a P/E ratio of 20.2, above the average energy industry P/E ratio of 19.6 and below the S&P 500 P/E ratio of 23.2. TheStreet Ratings rates Contango Oil & Gas 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 expanding profit margins. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and weak operating cash flow. You can view the full Contango Oil & Gas Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.