CXO, APA And PSX, 3 Basic Materials Stocks Pushing The Sector Lower
All three major indices are trading up today with the
Dow Jones Industrial Average
(
^DJI
) trading up 44 points (0.3%) at 17,560 as of Monday, March 28, 2016, 1:00 PM ET. The NYSE advances/declines ratio sits at 1,693 issues advancing vs. 1,250 declining with 166 unchanged.
The Basic Materials sector currently sits down 1.0% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the sector include
(
), down 7.1%,
(
), down 3.9%,
(
TheStreet Recommends
), down 4.0%,
(
), down 2.7% and
(
), down 2.8%. Top gainers within the sector include
Petroleo Brasileiro SA Petrobras
(
), up 5.1%,
(
), up 4.1%,
(
), up 2.7%,
(
), up 2.0% and
(
), up 1.6%.
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, Concho Resources is down $2.55 (-2.5%) to $101.06 on light volume. Thus far, 613,116 shares of Concho Resources exchanged hands as compared to its average daily volume of 2.9 million shares. The stock has ranged in price between $100.50-$104.02 after having opened the day at $103.80 as compared to the previous trading day's close of $103.61.
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Concho Resources Inc., an independent oil and natural gas company, engages in the acquisition, development, exploration, and production of oil and natural gas properties in the Unites States. Concho Resources has a market cap of $13.4 billion and is part of the energy industry. Shares are up 11.6% year-to-date as of the close of trading on Thursday. Currently there are 16 analysts that rate Concho Resources a buy, no analysts rate it a sell, and 5 rate it a hold.
TheStreet Ratings rates
Concho Resources
as a
. The company's weaknesses can be seen in multiple areas, such as its feeble growth in its earnings per share, deteriorating net income, weak operating cash flow, generally disappointing historical performance in the stock itself and disappointing return on equity. Get the full
Concho Resources Ratings Report
now.
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2. As of noon trading,
(
) is down $0.66 (-1.4%) to $48.19 on light volume. Thus far, 1.9 million shares of Apache Corporation exchanged hands as compared to its average daily volume of 6.3 million shares. The stock has ranged in price between $47.60-$49.08 after having opened the day at $48.98 as compared to the previous trading day's close of $48.85.
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Apache Corporation, an independent energy company, explores, develops, and produces natural gas, crude oil, and natural gas liquids. Apache Corporation has a market cap of $18.5 billion and is part of the energy industry. Shares are up 9.8% year-to-date as of the close of trading on Thursday. Currently there are 3 analysts that rate Apache Corporation a buy, 2 analysts rate it a sell, and 10 rate it a hold.
TheStreet Ratings rates
Apache Corporation
as a
. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, weak operating cash flow, generally disappointing historical performance in the stock itself, generally high debt management risk and feeble growth in its earnings per share. Get the full
Apache Corporation Ratings Report
now.
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1. As of noon trading,
(
) is down $0.54 (-0.6%) to $87.52 on light volume. Thus far, 759,735 shares of Phillips 66 exchanged hands as compared to its average daily volume of 4.1 million shares. The stock has ranged in price between $87.19-$88.13 after having opened the day at $87.96 as compared to the previous trading day's close of $88.06.
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Phillips 66 operates as an energy manufacturing and logistics company. It operates through four segments: Midstream, Chemicals, Refining, and Marketing and Specialties (M&S). Phillips 66 has a market cap of $46.4 billion and is part of the energy industry. Shares are up 7.7% year-to-date as of the close of trading on Thursday. Currently there are 6 analysts that rate Phillips 66 a buy, no analysts rate it a sell, and 3 rate it a hold.
TheStreet Ratings rates
Phillips 66
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, attractive valuation levels, good cash flow from operations, solid stock price performance and notable return on equity. We feel its strengths outweigh the fact that the company shows low profit margins. Get the full
now.
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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
(
).
