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NEW YORK ( TheStreet) -- Contango Oil & Gas Company (AMEX: MCF) hit a new 52-week high Wednesday as it is currently trading at $65.20, above its previous 52-week high of $65 with 14,233 shares traded as of 10:46 a.m. ET. Average volume has been 109,200 shares over the past 30 days. Contango Oil & Gas has a market cap of $989.4 million and is part of the basic materials sector and energy industry. Shares are up 9% year to date as of the close of trading on Tuesday. 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 16.3, above the average energy industry P/E ratio of 15.9 and below the S&P 500 P/E ratio of 17.7.