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

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.

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 down 0.2%. By the end of trading, Devon Energy fell $0.78 (-1.3%) to $60.25 on light volume. Throughout the day, 2,468,935 shares of Devon Energy exchanged hands as compared to its average daily volume of 3,564,200 shares. The stock ranged in price between $60.07-$60.65 after having opened the day at $60.50 as compared to the previous trading day's close of $61.03. Other companies within the Basic Materials sector that declined today were: Great Northern Iron Ore ( GNI), down 46.8%, WSP Holdings ( WH), down 12.6%, China Natural Resources ( CHNR), down 12.5% and Atlatsa Resources ( ATL), down 8.7%.

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 $24.8 billion and is part of the energy industry. Shares are down 1.4% year to date as of the close of trading on Friday. Currently there are 9 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. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the company's return on equity has been disappointing.

On the positive front, Minco Gold Corporation ( MGH), up 21.6%, Ceres ( CERE), up 14.6%, Recon Technology ( RCON), up 13.6% and North American Palladium ( PAL), up 12.5% , were all gainers within the basic materials sector with Silver Wheaton Corporation ( SLW) 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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