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NEW YORK ( TheStreet) -- BP Prudhoe Bay Royalty (NYSE: BPT) hit a new 52-week high Friday as it is currently trading at $124.95, above its previous 52-week high of $124.92 with 13,454 shares traded as of 11:09 a.m. ET. Average volume has been 74,100 shares over the past 30 days. BP Prudhoe Bay Royalty has a market cap of $2.48 billion and is part of the basic materials sector and energy industry. Shares are up 8.4% year to date as of the close of trading on Thursday. BP Prudhoe Bay Royalty Trust operates as a grantor trust in the United States. The company holds overriding royalty interests constituting a non-operational interest in minerals in the Prudhoe Bay oil field located on the North Slope in Alaska. The company has a P/E ratio of 46.9, above the average energy industry P/E ratio of 12.3 and above the S&P 500 P/E ratio of 17.7.