NEW YORK ( TheStreet) -- Contango Oil & Gas Company (AMEX: MCF) hit a new 52-week high Monday as it traded at $61.80 compared with its previous 52-Week high of $61.71. Contango Oil & Gas is changing hands at $61.80 with 1,942 shares traded as of 9:30 a.m. ET. Average volume has been 86,100 shares over the past 30 days. Contango Oil & Gas has a market cap of $963.7 million and is part of the basic materials sector and energy industry. Shares are up 6% year to date as of the close of trading on Friday. Contango Oil & Gas Company, an independent natural gas and oil company, explores, develops, produces, and acquires natural gas and oil properties primarily offshore in the Gulf of Mexico. The company was founded in 1986 and is based in Houston, Texas. The company has a P/E ratio of 21, above the average energy industry P/E ratio of 20.4 and below the S&P 500 P/E ratio of 21.9. 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.