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NEW YORK ( TheStreet) -- Venoco Incorporated (NYSE: VQ) hit a new 52-week low Monday as it is currently trading at $8.53, below its previous 52-week low of $8.60 with 131,342 shares traded as of 11:59 a.m. ET. Average volume has been 463,400 shares over the past 30 days. Venoco has a market cap of $586 million and is part of the basic materials sector and energy industry. Shares are down 51.3% year to date as of the close of trading on Friday. Venoco, Inc., an independent energy company, engages in the acquisition, exploration, exploitation, and development of oil and natural gas properties. Its principal properties are located both onshore and offshore southern California and onshore in California's Sacramento Basin. The company has a P/E ratio of 4.4, below the average energy industry P/E ratio of 41.3 and below the S&P 500 P/E ratio of 17.7.