3 Basic Materials Stocks Pushing The Sector Higher
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.
Two out of the three major indices are trading lower today with the
Dow Jones Industrial Average
(
^DJI
) trading down 28 points (-0.2%) at 16,647 as of Wednesday, May 28, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,518 issues advancing vs. 1,472 declining with 153 unchanged.
The Basic Materials sector currently sits down 0.3% versus the S&P 500, which is unchanged. Top gainers within the sector include
(
), up 2.8%,
(
), up 1.5%,
(
), up 1.5%,
(
), up 1.3% and
(
), up 1.1%. On the negative front, top decliners within the sector include
(
), down 2.1%,
(
), down 1.8%,
(
), down 1.0%,
(
), down 0.9% and
(
), down 0.8%.
TheStreet would like to highlight 3 stocks pushing the sector higher today:
3.
(
) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Apache Corporation is up $1.44 (1.6%) to $91.80 on heavy volume. Thus far, 2.4 million shares of Apache Corporation exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $90.62-$91.87 after having opened the day at $90.62 as compared to the previous trading day's close of $90.36.
Apache Corporation, an independent energy company, explores for, develops, and produces natural gas, crude oil, and natural gas liquids. Apache Corporation has a market cap of $34.8 billion and is part of the energy industry. Shares are up 4.9% year-to-date as of the close of trading on Tuesday. Currently there are 10 analysts who rate Apache Corporation a buy, no analysts rate it a sell, and 12 rate it a hold.
TheStreet Ratings rates
Apache Corporation
as a
. The company's strengths can be seen in multiple areas, such as its expanding profit margins, increase in stock price during the past year, largely solid financial position with reasonable debt levels by most measures and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full
Apache Corporation Ratings Report
now.
2. As of noon trading,
Petroleo Brasileiro SA Petrobras
(
) is up $0.08 (0.6%) to $14.70 on light volume. Thus far, 8.6 million shares of Petroleo Brasileiro SA Petrobras exchanged hands as compared to its average daily volume of 25.1 million shares. The stock has ranged in price between $14.42-$14.74 after having opened the day at $14.64 as compared to the previous trading day's close of $14.62.
Petroleo Brasileiro S.A. - Petrobras operates as an integrated oil and gas company in Brazil and internationally. Petroleo Brasileiro SA Petrobras has a market cap of $97.2 billion and is part of the energy industry. Shares are up 6.1% year-to-date as of the close of trading on Tuesday. Currently there are 3 analysts who rate Petroleo Brasileiro SA Petrobras a buy, no analysts rate it a sell, and 6 rate it a hold.
TheStreet Ratings rates
Petroleo Brasileiro SA Petrobras
as a
. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, largely solid financial position with reasonable debt levels by most measures and notable return on equity. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, poor profit margins and weak operating cash flow. Get the full
Petroleo Brasileiro SA Petrobras Ratings Report
now.
1. As of noon trading,
(
) is up $0.52 (1.0%) to $51.45 on average volume. Thus far, 3.5 million shares of Dow Chemical exchanged hands as compared to its average daily volume of 8.3 million shares. The stock has ranged in price between $50.80-$51.59 after having opened the day at $50.81 as compared to the previous trading day's close of $50.93.
The Dow Chemical Company manufactures and supplies chemical products for use as raw materials in the manufacture of customer products and services worldwide. Dow Chemical has a market cap of $61.0 billion and is part of the chemicals industry. Shares are up 14.7% year-to-date as of the close of trading on Tuesday. Currently there are 4 analysts who rate Dow Chemical a buy, 2 analysts rate it a sell, and 10 rate it a hold.
TheStreet Ratings rates
Dow Chemical
as a
. The company's strengths can be seen in multiple areas, such as its compelling growth in net income, revenue growth, largely solid financial position with reasonable debt levels by most measures, solid stock price performance and reasonable valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full
now.
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
(
).
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