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5 Stocks Pushing The Basic Materials Sector Lower

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

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 14 points (0.1%) at 12,892 as of Wednesday, Nov. 28, 2012, 12:00 PM ET. The NYSE advances/declines ratio sits at 1,435 issues advancing vs. 1,435 declining with 148 unchanged.

The Basic Materials sector currently sits down 0.2% versus the S&P 500, which is down 0.0%. On the negative front, top decliners within the sector include InterOil Corporation ( IOC), down 5.7%, Ensco ( ESV), down 2.3%, Southwestern Energy Company ( SWN), down 1.8%, Cabot Oil & Gas Corporation ( COG), down 1.7% and Continental Resources ( CLR), down 1.7%. Top gainers within the sector include Encana ( ECA), up 1.3%, Petroleo Brasileiro SA Petrobras ( PBR.A), up 0.8%, Total ( TOT), up 0.7%, Potash Corporation of Saskatchewan ( POT), up 0.6% and Chevron ( CVX), up 0.5%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector lower today:

5. Pioneer Natural Resources Company ( PXD) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Pioneer Natural Resources Company is down $1.55 (-1.5%) to $103.28 on light volume Thus far, 473,075 shares of Pioneer Natural Resources Company exchanged hands as compared to its average daily volume of 1.6 million shares. The stock has ranged in price between $102.57-$103.98 after having opened the day at $103.94 as compared to the previous trading day's close of $104.83.

Pioneer Natural Resources Company operates as an independent oil and gas exploration and production company in the United States and South Africa. The company produces and sells oil, natural gas liquid (NGL), and gas. Pioneer Natural Resources Company has a market cap of $13.1 billion and is part of the energy industry. The company has a P/E ratio of 48.3, above the S&P 500 P/E ratio of 17.7. Shares are up 18.9% year to date as of the close of trading on Tuesday. Currently there are 18 analysts that rate Pioneer Natural Resources Company a buy, no analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates Pioneer Natural Resources Company as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Pioneer Natural Resources Company Ratings Report now.

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