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NEW YORK ( TheStreet) -- Frontier Oil Corporation (NYSE: FTO) hit a new 52-week high Wednesday as it is currently trading at $32.41, above its previous 52-week high of $32.37 with 1.1 million shares traded as of 11:16 a.m. ET. Average volume has been 2.7 million shares over the past 30 days. Frontier Oil has a market cap of $3.3 billion and is part of the basic materials sector and energy industry. Shares are up 78.1% year to date as of the close of trading on Tuesday. Frontier Oil Corporation, together with its subsidiaries, engages in refining crude oil and marketing refined petroleum products. The company has a P/E ratio of 15, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.