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NEW YORK ( TheStreet) -- CGG Veritas (NYSE: CGV) hit a new 52-week low Monday as it is currently trading at $16.76, below its previous 52-week low of $17.44 with 16,874 shares traded as of 9:38 a.m. ET. Average volume has been 170,700 shares over the past 30 days. CGG Veritas has a market cap of $2.9 billion and is part of the basic materials sector and energy industry. Shares are down 42.4% year to date as of the close of trading on Friday. Compagnie Generale de Geophysique-Veritas S.A., together with its subsidiaries, provides geophysical services and equipment to the oil and gas exploration and production industries in France and internationally. The company has a P/E ratio of 187.7, above the S&P 500 P/E ratio of 17.7.