NEW YORK ( TheStreet) -- Venoco Incorporated (NYSE: VQ) is trading at unusually high volume Wednesday with 1.5 million shares changing hands. It is currently at 4.1 times its average daily volume and trading down $1.15 (-10.8%) at $9.55 as of 3:56 p.m. ET. Venoco has a market cap of $665 million and is part of the basic materials sector and energy industry. Shares are up 58.1% year to date as of the close of trading on Tuesday. Venoco, Inc., an independent energy company, primarily engages in the acquisition, exploration, exploitation, and development of oil and natural gas properties primarily in offshore and onshore California. The company has a P/E ratio of 11, below the average energy industry P/E ratio of 11.5 and below the S&P 500 P/E ratio of 17.7. TheStreet Ratings rates Venoco as a hold. The company's strengths can be seen in multiple areas, such as its notable return on equity, revenue growth and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, unimpressive growth in net income and generally poor debt management. You can view the full Venoco Ratings Report. See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.