Devon Energy Corp (DVN): Today's Featured Basic Materials Winner

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.

Devon Energy ( DVN) pushed the Basic Materials sector higher today making it today's featured basic materials winner. The sector as a whole closed the day up 1.2%. By the end of trading, Devon Energy rose $1.47 (2.7%) to $55.79 on average volume. Throughout the day, four million shares of Devon Energy exchanged hands as compared to its average daily volume of 3.9 million shares. The stock ranged in a price between $54.30-$55.87 after having opened the day at $54.32 as compared to the previous trading day's close of $54.32. Other companies within the Basic Materials sector that increased today were: GMX Resources ( GMXR), up 24.5%, HyperDynamics Corporation ( HDY), up 18%, Rare Element Resources ( REE), up 14.8%, and Timmins Gold ( TGD), up 14.5%.
  • EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass.

Devon Energy Corporation, an independent energy company, engages primarily in exploration, development, and production of oil, natural gas, and natural gas liquids (NGLs). Devon Energy has a market cap of $21.96 billion and is part of the energy industry. Shares are up 4.4% year to date as of the close of trading on Wednesday. Currently there are 12 analysts that rate Devon Energy a buy, no analysts rate it a sell, and 10 rate it a hold.

TheStreet Ratings rates Devon Energy as a hold. Among the primary strengths of the company is its solid financial position based on a variety of debt and liquidity measures that we have evaluated. At the same time, however, we also find weaknesses including deteriorating net income, disappointing return on equity and poor profit margins.

For investors not wanting singular stock exposure, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM).

It's Official: Action Alerts PLUS beats the S&P 500 with Dividends Reinvested! Cramer and Link were up 16.72% in 2012. Were you? See what they are trading for 14-days FREE.
null

If you liked this article you might like

Smaller Oil Outfits' Prospects Energize Me

Dow Explodes, Apple Ahead - 5 Things You Must Know Before the Market Opens Tuesday

Devon Energy's Steep Slide Appears Over

Tesla and Apple Better Deliver Big-Time or Look Out Below -- Week Ahead