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Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model. NEW YORK ( TheStreet) -- Devon Energy (NYSE: DVN) hit a new 52-week low Thursday as it is currently trading at $53.89, below its previous 52-week low of $54.01 with 2.4 million shares traded as of 10:51 a.m. ET. Average volume has been 2.7 million shares over the past 30 days. Devon Energy has a market cap of $24.12 billion and is part of the basic materials sector and energy industry. Shares are down 10.6% year to date as of the close of trading on Wednesday. Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids. The company has a P/E ratio of 10, below the S&P 500 P/E ratio of 17.7.