5 Basic Materials Stocks Driving The Sector Higher

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 153 points (1.0%) at 15,063 as of Monday, July 1, 2013, 12:45 PM ET. The NYSE advances/declines ratio sits at 2,343 issues advancing vs. 631 declining with 69 unchanged.

The Basic Materials sector currently sits up 2.7% versus the S&P 500, which is up 1.1%. Top gainers within the sector include Goldcorp ( GG), up 3.1%, Pioneer Natural Resources Company ( PXD), up 3.2%, EOG Resources ( EOG), up 3.2%, Continental Resources ( CLR), up 2.4% and Air Products & Chemicals ( APD), up 2.3%. A company within the sector that fell today was Petroleo Brasileiro SA Petrobras ( PBR), up 1.0%.

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

5. Schlumberger ( SLB) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Schlumberger is up $1.56 (2.2%) to $73.22 on average volume. Thus far, 3.0 million shares of Schlumberger exchanged hands as compared to its average daily volume of 7.0 million shares. The stock has ranged in price between $71.95-$73.34 after having opened the day at $72.19 as compared to the previous trading day's close of $71.66.

Schlumberger Limited, together with its subsidiaries, engages in the supply of technology, integrated project management, and information solutions to oil and gas exploration and production industries worldwide. Schlumberger has a market cap of $95.6 billion and is part of the energy industry. The company has a P/E ratio of 17.9, above the S&P 500 P/E ratio of 17.7. Shares are up 3.4% year to date as of the close of trading on Friday. Currently there are 22 analysts that rate Schlumberger a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Schlumberger as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and good cash flow from operations. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income and poor profit margins. Get the full Schlumberger Ratings Report now.

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