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

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

Devon Energy ( DVN) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day up 0.1%. By the end of trading, Devon Energy fell $0.86 (-1.4%) to $58.29 on average volume. Throughout the day, 5,015,554 shares of Devon Energy exchanged hands as compared to its average daily volume of 3,442,800 shares. The stock ranged in price between $57.29-$58.68 after having opened the day at $57.91 as compared to the previous trading day's close of $59.15. Other companies within the Basic Materials sector that declined today were: China Shen Zhou Mining & Resources ( SHZ), down 24.4%, Revett Minerals ( RVM), down 23.5%, China Gengsheng Minerals ( CHGS), down 11.1% and Recon Technology ( RCON), down 9.1%.

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Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs). Devon Energy has a market cap of $24.4 billion and is part of the energy industry. Shares are up 15.6% 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 11 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 deteriorating net income, disappointing return on equity and weak operating cash flow.

On the positive front, Torch Energy Royalty ( TRU), down 58.7%, GeoPetro Resources Company ( GPR), down 52.9%, Houston American Energy Corporation ( HUSA), down 21.6% and Sinocoking Coal and Coke Chemicals ( SCOK), down 10.7% , were all gainers within the basic materials sector with Cabot Oil & Gas Corporation ( COG) being today's featured basic materials sector leader.

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).

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