NEW YORK ( TheStreet) -- Precision Drilling (NYSE: PDS) hit a new 52-week high Wednesday as it traded at $13.43 compared with its previous 52-Week high of $13.41. Precision is changing hands at $13.42 with 1.1 million shares traded as of 12:12 p.m. ET. Average volume has been 1.3 million shares over the past 30 days.

Precision has a market cap of $3.6 billion and is part of the basic materials sector and energy industry. Shares are up 36% year to date as of the close of trading on Tuesday.

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 59.2, above the average energy industry P/E ratio of 58.9 and above the S&P 500 P/E ratio of 16.1.
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TheStreet Ratings rates Precision as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, increase in net income and expanding profit margins. 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.

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