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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) -- Noble Corporation (NYSE: NE) hit a new 52-week high Monday as it is currently trading at $41.59, above its previous 52-week high of $41.49 with 705,439 shares traded as of 10:31 a.m. ET. Average volume has been four million shares over the past 30 days. Noble has a market cap of $10.11 billion and is part of the basic materials sector and energy industry. Shares are up 16.8% year to date as of the close of trading on Friday. Noble Corporation operates as an offshore drilling contractor for the oil and gas industry. The company offers contract drilling services for oil and gas wells. The company has a P/E ratio of 18.4, above the S&P 500 P/E ratio of 17.7.