The basic materials sector closed the day up 4.7%. Complete Production Services Inc ( CPX), Andatee China Marine Fuel Services Corporat ( AMCF), Abraxas Petroleum Corporation ( AXAS), and BioFuel Energy Corporation ( BIOF) were all winners today within the basic materials sector with Chevron ( CVX) being today's featured basic materials winner. Chevron rose $3.84 (4.1%) to $98.24 on light volume. Throughout the day, 6.7 million shares of Chevron exchanged hands as compared to its average daily volume of 11.2 million shares. Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. Chevron has a market cap of $189.6 billion and is part of the energy industry. The company has a P/E ratio of 8.3, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are up 3.7% year to date as of the close of trading on Friday. TheStreet Ratings rates Chevron as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, robust revenue growth, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels. We feel these strengths outweigh the fact that the company shows low profit margins.
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