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5 Stocks Dragging The Basic Materials Sector Downward

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

All three major indices are trading up today with the Dow Jones Industrial Average (^DJI) trading up 90 points (0.6%) at 15,153 as of Tuesday, Sept. 10, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,842 issues advancing vs. 1,092 declining with 95 unchanged.

The Basic Materials sector currently sits down 0.2% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the sector include Goldcorp (GG), down 5.5%, Eldorado Gold (EGO), down 4.4%, Randgold Resources (GOLD), down 3.8%, Silver Wheaton Corporation (SLW), down 3.6% and Barrick Gold Corporation (ABX), down 3.4%. Top gainers within the sector include Continental Resources (CLR), up 3.8%, Cameco (CCJ), up 3.9%, Vale (VALE), up 2.8%, Agrium (AGU), up 2.4% and Ultrapar Holdings (UGP), up 2.1%.

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

5. Cabot Oil & Gas Corporation (COG) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Cabot Oil & Gas Corporation is down $1.18 (-3.0%) to $37.82 on heavy volume. Thus far, 3.1 million shares of Cabot Oil & Gas Corporation exchanged hands as compared to its average daily volume of 3.5 million shares. The stock has ranged in price between $37.75-$39.02 after having opened the day at $39.00 as compared to the previous trading day's close of $39.00.

Cabot Oil & Gas Corporation, an independent oil and gas company, engages in the development, exploitation, exploration, production, and marketing of natural gas, crude oil, and natural gas liquids in the United States. Cabot Oil & Gas Corporation has a market cap of $16.3 billion and is part of the energy industry. Shares are up 56.8% year to date as of the close of trading on Monday. Currently there are 11 analysts that rate Cabot Oil & Gas Corporation a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Cabot Oil & Gas Corporation as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, expanding profit margins and good cash flow from operations. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. Get the full Cabot Oil & Gas Corporation Ratings Report now.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

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