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NEW YORK ( TheStreet) -- Precision Drilling (NYSE: PDS) hit a new 52-week low Tuesday as it is currently trading at $7.51, below its previous 52-week low of $7.52 with 1.1 million shares traded as of 3:46 p.m. ET. Average volume has been 1.7 million shares over the past 30 days. Precision has a market cap of $2.27 billion and is part of the basic materials sector and energy industry. Shares are down 23.5% year to date as of the close of trading on Monday. Precision Drilling Corporation provides contract drilling, and completion and production services to oil and natural gas exploration and production companies. The company has a P/E ratio of 12.5, above the average energy industry P/E ratio of 9.8 and below the S&P 500 P/E ratio of 17.7.