5 Stocks Pushing The Basic Materials Sector Higher

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

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading up 15 points (0.1%) at 12,980 as of Tuesday, Dec. 4, 2012, 11:49 AM ET. The NYSE advances/declines ratio sits at 1,319 issues advancing vs. 1,553 declining with 162 unchanged.

The Basic Materials sector currently sits down 0.3% versus the S&P 500, which is down 0.1%. Top gainers within the sector include Noble Corporation ( NE), up 3.9%, ArcelorMittal ( MT), up 2.4%, Gerdau ( GGB), up 1.7%, PetroChina ( PTR), up 1.0% and Eni SpA ( E), up 0.9%. On the negative front, top decliners within the sector include Seadrill ( SDRL), down 4.3%, Southwestern Energy Company ( SWN), down 2.2%, Pioneer Natural Resources Company ( PXD), down 1.9%, Marathon Oil ( MRO), down 1.5% and Hess ( HES), down 1.5%.

TheStreet Ratings group would like to highlight 5 stocks pushing the sector higher today:

5. Transocean ( RIG) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Transocean is up $0.62 (1.4%) to $46.70 on light volume Thus far, 890,056 shares of Transocean exchanged hands as compared to its average daily volume of 3.7 million shares. The stock has ranged in price between $46.12-$46.84 after having opened the day at $46.30 as compared to the previous trading day's close of $46.08.

Transocean Ltd. provides offshore contract drilling services for oil and gas wells worldwide. It offers deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and drilling project management services. Transocean has a market cap of $16.6 billion and is part of the energy industry. Shares are up 20.3% year to date as of the close of trading on Monday. Currently there are 18 analysts that rate Transocean a buy, no analysts rate it a sell, and 5 rate it a hold.

TheStreet Ratings rates Transocean as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations and expanding profit margins. However, as a counter to these strengths, we also find weaknesses including deteriorating net income and disappointing return on equity. Get the full Transocean Ratings Report now.

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