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NEW YORK ( TheStreet) -- Contango Oil & Gas Company (AMEX: MCF) hit a new 52-week high Thursday as it traded at $61.99 compared with its previous 52-Week high of $61.80. Contango Oil & Gas is changing hands at $61.99 with 2,746 shares traded as of 9:35 a.m. ET. Average volume has been 102,900 shares over the past 30 days. Contango Oil & Gas has a market cap of $935.8 million and is part of the basic materials sector and energy industry. Shares are up 6.1% year to date as of the close of trading on Wednesday. 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 20.4, above the average energy industry P/E ratio of 19.8 and above the S&P 500 P/E ratio of 16.2.