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.
(
) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day up 1.6%. By the end of trading, Devon Energy fell $0.60 (-1.0%) to $57.29 on light volume. Throughout the day, 1,837,585 shares of Devon Energy exchanged hands as compared to its average daily volume of 3,182,400 shares. The stock ranged in price between $57.11-$57.85 after having opened the day at $57.65 as compared to the previous trading day's close of $57.89. Other companies within the Basic Materials sector that declined today were:
(
), down 12.3%,
(
), down 9.2%,
(
), down 7.9% and
Houston American Energy Corporation
(
), down 7.9%.
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 $23.1 billion and is part of the energy industry. Shares are up 11.2% year to date as of the close of trading on Friday. Currently there are 11 analysts that rate Devon Energy a buy, no analysts rate it a sell, and 12 rate it a hold.
TheStreet Ratings rates
Devon Energy
as a
. 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.
- You can view the full Devon Energy Ratings Report.
On the positive front,
(
), up 153.7%,
(
), up 31.8%,
(
), up 28.7% and
International Tower Hill Mines
(
), up 27.3% , were all gainers within the basic materials sector with
Petroleo Brasileiro SA Petrobras
(
) being today's featured basic materials sector leader.
- Use our basic materials section to find sector-relevant news.
- Or find some new ideas from our top rated stocks lists.
For investors not wanting singular stock exposure, 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
(
).
- Find other investment ideas from our top rated ETFs lists.
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