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NEW YORK ( TheStreet) -- Teekay Offshore Partners (NYSE: TOO) hit a new 52-week high Thursday as it is currently trading at $30.70, above its previous 52-week high of $30.68 with 114,222 shares traded as of 2:47 p.m. ET. Average volume has been 166,200 shares over the past 30 days. Teekay has a market cap of $1.6 billion and is part of the services sector and transportation industry. Shares are up 7.6% year to date as of the close of trading on Wednesday. Teekay Offshore Partners L.P. provides marine transportation and storage services to the offshore oil industry. The company has a P/E ratio of 24.4, equal to the average transportation industry P/E ratio and above the S&P 500 P/E ratio of 16.9.