1. As of noon trading, Chevron ( CVX) is down $1.01 (-0.8%) to $122.22 on average volume Thus far, 2.7 million shares of Chevron exchanged hands as compared to its average daily volume of 5.7 million shares. The stock has ranged in price between $122.17-$123.10 after having opened the day at $122.92 as compared to the previous trading day's close of $123.23. Chevron Corporation, through its subsidiaries, engages in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments, Upstream and Downstream. Chevron has a market cap of $239.7 billion and is part of the energy industry. The company has a P/E ratio of 9.3, below the S&P 500 P/E ratio of 17.7. Shares are up 14.3% 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 attractive valuation levels and solid stock price performance. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Chevron Ratings Report now. Exclusive Offer: Jim Cramer's 'go-to' small/mid-cap guru Bryan Ashenberg only buys stocks he thinks could return 50-100%. See his top picks for 14-days FREE. 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 Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM). A reminder about TheStreet Ratings group: 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.