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NEW YORK ( TheStreet) -- Callon Petroleum (NYSE: CPE) hit a new 52-week low Friday as it is currently trading at $3.89, below its previous 52-week low of $3.90 with 90,283 shares traded as of 10:53 a.m. ET. Average volume has been 554,300 shares over the past 30 days. Callon has a market cap of $157.5 million and is part of the basic materials sector and energy industry. Shares are down 31.9% year to date as of the close of trading on Thursday. Callon Petroleum Company engages in the acquisition, exploration, development, and production of crude oil and natural gas properties in the onshore in Louisiana and Texas, and the offshore waters of the Gulf of Mexico. The company has a P/E ratio of 5.6, below the average energy industry P/E ratio of 5.8 and below the S&P 500 P/E ratio of 17.7.