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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 $33.60, below its previous 52-week low of $33.74 with 625,118 shares traded as of 10:55 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 9.3% year to date as of the close of trading on Monday. Newfield Exploration Company, an independent energy company, engaged in the exploration, development, and production of crude oil, natural gas, and natural gas liquids. It has operations in the Mid-Continent, the Rocky Mountains, and onshore Texas, as well as in Malaysia and China. The company has a P/E ratio of 8.8, below the average energy industry P/E ratio of 11 and below the S&P 500 P/E ratio of 17.7.