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NEW YORK ( TheStreet) -- Newfield Exploration Company (NYSE: NFX) hit a new 52-week low Tuesday as it is currently trading at $34.38, below its previous 52-week low of $34.42 with 65,748 shares traded as of 9:35 a.m. ET. Average volume has been 2.3 million shares over the past 30 days. Newfield has a market cap of $5.37 billion and is part of the basic materials sector and energy industry. Shares are down 7.1% year to date as of the close of trading on Monday. Newfield Exploration Company, an independent oil and gas company, engages in the acquisition, exploration, and development of oil and gas properties primarily in the United States. The company has a P/E ratio of 8.9, below the average energy industry P/E ratio of 11 and below the S&P 500 P/E ratio of 17.7.