Dow Today: 3M (MMM) Leads The Day Higher, Chevron (CVX) Lags

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model.

The Dow Jones Industrial Average ( ^DJI) closed down 28.0 points (-0.2%) at 12,542. During the day, 636.5 million shares of the 30 Dow components have changed hands vs. an average daily trading volume of 599.4 million. The NYSE advances/declines ratio closed at 980 issues advancing vs. 2,085 declining with 89 unchanged.
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The Dow component that led the way higher today was 3M (NYSE: MMM), which sported a 71-cent gain (+0.8%) bringing the stock to $88.02. Volume for 3M ended the day at 3.3 million shares traded vs. an average daily trading volume of 3.1 million shares.

3M has a market cap of $61.64 billion and is part of the conglomerates sector and conglomerates industry. Shares are up 9% year to date as of Wednesday's close. The stock's dividend yield sits at 2.6%.

3M Company operates as a diversified technology company worldwide. The company has a P/E ratio of 14.2, below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates 3M as a buy. The company's strengths can be seen in multiple areas, such as its growth in earnings per share, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, solid stock price performance and increase in net income. We feel these strengths outweigh the fact that the company shows weak operating cash flow.

Holding the Dow back today was Chevron (NYSE: CVX), which lagged the broader Dow index with an 88-cent decline (-0.9%) bringing the stock to $101.62. This single loss is lowering the Dow Jones Industrial Average by 6.66 points or roughly accounting for 23.8% of the Dow's overall loss. Volume for Chevron ended the day at 9.7 million shares traded vs. an average daily trading volume of 5.8 million shares.

Chevron has a market cap of $206.05 billion and is part of the basic materials sector and energy industry. Shares are down 1.1% year to date as of Wednesday's close. The stock's dividend yield sits at 3.4%.

Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. It operates in two segments, Upstream and Downstream. The company has a P/E ratio of 8.6, below the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates Chevron as a buy. 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 attractive valuation levels. We feel these strengths outweigh the fact that the company has had sub par growth in net income.

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