Provident Energy Stock Hits New 52-Week High (PVX)

NEW YORK ( TheStreet) -- Provident Energy (NYSE: PVX) hit a new 52-week high Thursday as it is currently trading at $12.05, above its previous 52-week high of $12.05 with 473,672 shares traded as of 12 p.m. ET. Average volume has been 1.9 million shares over the past 30 days.

Provident Energy has a market cap of $2.99 billion and is part of the basic materials sector and energy industry. Shares are up 23.8% year to date as of the close of trading on Wednesday.

Provident Energy Ltd. engages in the natural gas liquids (NGLs) infrastructure and marketing business in Canada and the United States. The company involves in the extraction, processing, storage, transportation, and marketing of NGLs, as well as offers these services to third party customers. The company has a P/E ratio of 26.4, above the average energy industry P/E ratio of 22.7 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Provident Energy as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, good cash flow from operations, impressive record of earnings per share growth and solid stock price performance. We feel these strengths outweigh the fact that the company has had generally poor debt management on most measures that we evaluated. You can view the full Provident Energy Ratings Report.

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