NEW YORK ( TheStreet) -- Pride International (NYSE: PDE) hit a new 52-week high Friday as it traded at $40.90 compared with its previous 52-Week high of $40.84. Pride International is changing hands at $40.77 with 84,647 shares traded as of 9:32 a.m. ET. Average volume has been 3.3 million shares over the past 30 days. Pride International has a market cap of $7.1 billion and is part of the basic materials sector and energy industry. Shares are up 22.2% year to date as of the close of trading on Thursday. Pride International, Inc. provides offshore contract drilling services to oil and natural gas exploration and production companies. It offers services through the use of mobile offshore drilling rigs in the United States and international waters. The company has a P/E ratio of 29.2, below the average energy industry P/E ratio of 32.5 and above the S&P 500 P/E ratio of 22.6. TheStreet Ratings rates Pride International as a hold. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income and revenue growth. However, as a counter to these strengths, we also find weaknesses including disappointing return on equity and weak operating cash flow. You can view the full Pride International Ratings Report. See all 52-week high stocks or get investment ideas from our investment research center.