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NEW YORK ( TheStreet) -- Basic Energy Services (NYSE: BAS) hit a new 52-week low Tuesday as it is currently trading at $12.44, below its previous 52-week low of $12.49 with 479,110 shares traded as of 10:46 a.m. ET. Average volume has been 1.4 million shares over the past 30 days. Basic Energy Services has a market cap of $588.3 million and is part of the basic materials sector and energy industry. Shares are down 31% year to date as of the close of trading on Monday. Basic Energy Services, Inc. provides various well site services to oil and natural gas drilling and producing companies in the United States. The company has a P/E ratio of 6.6, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7.