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

All three major indices are trading down today with the Dow Jones Industrial Average (^DJI) trading down 53 points (-0.4%) at 13,873 as of Thursday, Feb. 21, 2013, 11:50 AM ET. The NYSE advances/declines ratio sits at 851 issues advancing vs. 2,047 declining with 117 unchanged.

The Basic Materials sector currently sits down 0.6% versus the S&P 500, which is down 0.6%. On the negative front, top decliners within the sector include Gold Fields (GFI), down 14.1%, ArcelorMittal (MT), down 3.3%, Williams Partners (WPZ), down 2.4%, Transocean (RIG), down 2.7% and Total (TOT), down 2.1%.

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

5. Devon Energy (DVN) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Devon Energy is down $1.27 (-2.2%) to $55.30 on average volume Thus far, 2.7 million shares of Devon Energy exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $54.96-$56.42 after having opened the day at $56.35 as compared to the previous trading day's close of $56.57.

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 $24.5 billion and is part of the energy industry. The company has a P/E ratio of 35.6, above the S&P 500 P/E ratio of 17.7. Shares are up 16.4% 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 10 rate it a hold.

TheStreet Ratings rates Devon Energy as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income. Get the full Devon Energy Ratings Report now.

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