NEW YORK ( TheStreet) -- Precision Drilling (NYSE: PDS) hit a new 52-week high Tuesday as it traded at $11.53 compared with its previous 52-Week high of $11.44. Precision is changing hands at $11.34 with 232,320 shares traded as of 10:42 a.m. ET. Average volume has been 977,900 shares over the past 30 days.

Precision has a market cap of $3.2 billion and is part of the basic materials sector and energy industry. Shares are up 18.1% year to date as of the close of trading on Friday.

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 52, above the average energy industry P/E ratio of 51.7 and above the S&P 500 P/E ratio of 23.2.

TheStreet Ratings rates Precision as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, reasonable valuation levels and increase in net income. However, as a counter to these strengths, we find that the company's return on equity has been disappointing. You can view the full Precision Ratings Report.

See all 52-week high stocks or get investment ideas from our investment research center.