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NEW YORK ( TheStreet) -- Rowan Companies (NYSE: RDC) hit a new 52-week low Monday as it is currently trading at $29.10, below its previous 52-week low of $29.23 with three million shares traded as of 2:55 p.m. ET. Average volume has been three million shares over the past 30 days. Rowan Companies has a market cap of $4.1 billion and is part of the basic materials sector and energy industry. Shares are down 13.5% year to date as of the close of trading on Friday. Rowan Companies, Inc. provides onshore and offshore oil and gas contract drilling services in the United States and internationally. The company offers its contract drilling services through its fleet of 28 self-elevating mobile offshore drilling platforms and 30 deep-well land drilling rigs. The company has a P/E ratio of 22.4, above the average energy industry P/E ratio of 6.5 and above the S&P 500 P/E ratio of 17.7.