BP, CVX And XOM, 3 Basic Materials Stocks Pushing The Sector Lower
All three major indices are trading down today with the
Dow Jones Industrial Average
(
^DJI
) trading down 67 points (-0.4%) at 18,405 as of Thursday, July 28, 2016, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,296 issues advancing vs. 1,538 declining with 200 unchanged.
The Basic Materials sector currently sits down 0.1% versus the S&P 500, which is down 0.2%. On the negative front, top decliners within the sector include
(
), down 7.0%,
(
), down 2.4%,
(
), down 2.1%,
Petroleo Brasileiro SA Petrobras
(
), down 2.0% and
(
), down 1.5%.
TheStreet would like to highlight 3 stocks pushing the sector lower today:
3.
(
) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, BP is down $0.60 (-1.7%) to $33.97 on average volume. Thus far, 5.5 million shares of BP exchanged hands as compared to its average daily volume of 9.8 million shares. The stock has ranged in price between $33.95-$34.47 after having opened the day at $34.42 as compared to the previous trading day's close of $34.57.
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BP p.l.c. operates as an integrated oil and gas company worldwide. It operates through three segments: Upstream, Downstream, and Rosneft. BP has a market cap of $107.5 billion and is part of the energy industry. Shares are up 10.6% year-to-date as of the close of trading on Wednesday. Currently there are 4 analysts that rate BP a buy, 1 analyst rates it a sell, and 5 rate it a hold.
TheStreet Ratings rates
BP
as a
. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, impressive record of earnings per share growth and notable return on equity. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, weak operating cash flow and poor profit margins. Get the full
now.
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2. As of noon trading,
(
) is down $0.93 (-0.9%) to $101.33 on average volume. Thus far, 4.3 million shares of Chevron exchanged hands as compared to its average daily volume of 6.6 million shares. The stock has ranged in price between $100.98-$102.22 after having opened the day at $102.09 as compared to the previous trading day's close of $102.26.
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Chevron Corporation, through its subsidiaries, engages in integrated energy, chemicals, and petroleum operations worldwide. The company operates in two segments, Upstream and Downstream. Chevron has a market cap of $193.5 billion and is part of the energy industry. Shares are up 13.7% year-to-date as of the close of trading on Wednesday. Currently there are 10 analysts that rate Chevron a buy, no analysts rate it a sell, and 7 rate it a hold.
TheStreet Ratings rates
Chevron
as a
. The company's strengths can be seen in multiple areas, such as its largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, deteriorating net income and poor profit margins. Get the full
now.
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1. As of noon trading,
(
) is down $0.88 (-1.0%) to $90.04 on average volume. Thus far, 5.8 million shares of Exxon Mobil exchanged hands as compared to its average daily volume of 10.6 million shares. The stock has ranged in price between $89.61-$90.73 after having opened the day at $90.38 as compared to the previous trading day's close of $90.91.
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Exxon Mobil Corporation explores for and produces crude oil and natural gas in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. Exxon Mobil has a market cap of $379.5 billion and is part of the energy industry. Shares are up 16.6% year-to-date as of the close of trading on Wednesday. Currently there are 5 analysts that rate Exxon Mobil a buy, 2 analysts rate it a sell, and 8 rate it a hold.
TheStreet Ratings rates
Exxon Mobil
as a
. The company's strengths can be seen in multiple areas, such as its reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including feeble growth in the company's earnings per share, poor profit margins and weak operating cash flow. Get the full
now.
EXCLUSIVE OFFER: See inside Jim Cramer's multi-million dollar charitable trust portfolio to see the stocks he thinks could be potential winners. Click here to see his holdings for 14-days FREE.
If you are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider
(
) while those bearish on the basic materials sector could consider
ProShares Short Basic Materials Fd
(
).