Devon Energy Corp (DVN): Today's Featured Basic Materials Loser

Devon Energy (DVN) pushed the Basic Materials sector lower today making it today's featured Basic Materials loser. The sector as a whole closed the day down 0.5%. By the end of trading, Devon Energy fell 79 cents (-1.3%) to $59.30 on average volume. Throughout the day, 3.5 million shares of Devon Energy exchanged hands as compared to its average daily volume of 3.9 million shares. The stock ranged in price between $59.18-$61.42 after having opened the day at $60.89 as compared to the previous trading day's close of $60.09. Other company's within the Basic Materials sector that declined today were: Zion Oil & Gas (ZN), down 10.8%, Metabolix (MBLX), down 10.7%, Tri-Valley Corporation (TIV), down 10.5%, and Quaterra Resources (QMM), down 9.3%.

Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids. Devon Energy has a market cap of $23.89 billion and is part of the energy industry. The company has a P/E ratio of 11.3, above the average energy industry P/E ratio of 5.2 and below the S&P 500 P/E ratio of 17.7. Shares are down 4.7% year to date as of the close of trading on Wednesday. Currently there are 12 analysts that rate Devon Energy a buy, no analysts rate it a sell, and eight rate it a hold.

TheStreet Ratings rates Devon Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

• You can view the full Devon Energy Ratings Report.

On the positive front, GeoMet (GMET), up 87%, Augusta Resource Corporation (AZC), up 9.1%, China Precision Steel (CPSL), up 8.9%, and Midstates Petroleum (MPO), up 7.3%, were all gainers within the basic materials sector with Petroleo Brasileiro SA Petrobras (PBR) being today's featured basic materials sector winner.

• Use our basic materials section to find sector-relevant news.
• Or find some new ideas from our top rated stocks lists.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR (XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd (SBM).

• Find other investment ideas from our top rated ETFs lists.

 

For more information on Devon Energy Corp click any of the following:

• Devon Energy Corp Stock Price

• Devon Energy Corp Analyst Ratings

• Devon Energy Corp Key Stats & Profile

• Devon Energy Corp Earnings

• Devon Energy Corp Ratio Comparison

• Devon Energy Corp Growth Rates

• Devon Energy Corp Balance Sheet

• Devon Energy Corp Cash Flow

• Devon Energy Corp Income Statement