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3 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 down today with the Dow Jones Industrial Average (^DJI) trading down 125 points (-0.7%) at 16,899 as of Tuesday, July 8, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 971 issues advancing vs. 2,018 declining with 168 unchanged.

The Basic Materials sector currently sits down 0.9% versus the S&P 500, which is down 0.9%. On the negative front, top decliners within the sector include Seadrill (SDRL), down 5.1%, Ecopetrol (EC), down 2.6%, Cheniere Energy (LNG), down 2.5%, Phillips 66 (PSX), down 1.7% and Tenaris (TS), down 1.4%. A company within the sector that increased today was Goldcorp (GG), up 1.1%.

TheStreet would like to highlight 3 stocks pushing the sector lower today:

3. Halliburton (HAL) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Halliburton is down $1.09 (-1.6%) to $69.07 on average volume. Thus far, 2.9 million shares of Halliburton exchanged hands as compared to its average daily volume of 6.6 million shares. The stock has ranged in price between $68.96-$70.14 after having opened the day at $70.02 as compared to the previous trading day's close of $70.16.

Halliburton Company provides a range of services and products for the exploration, development, and production of oil and natural gas to oil and gas companies worldwide. The company operates in two segments, Completion and Production, and Drilling and Evaluation. Halliburton has a market cap of $59.9 billion and is part of the energy industry. Shares are up 38.2% year-to-date as of the close of trading on Monday. Currently there are 21 analysts that rate Halliburton a buy, 1 analyst rates it a sell, and 4 rate it a hold.

TheStreet Ratings rates Halliburton as a buy. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, solid stock price performance, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Halliburton 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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