Basic Materials Stocks On The Rise With Help From 3 Stocks

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 89 points (0.6%) at 15,077 as of Friday, July 5, 2013, 12:49 PM ET. The NYSE advances/declines ratio sits at 1,417 issues advancing vs. 1,574 declining with 76 unchanged.

The Basic Materials sector currently sits down 0.5% versus the S&P 500, which is up 0.6%. Top gainers within the sector include Apache Corporation ( APA), up 3.3%, Halliburton Company ( HAL), up 1.8%, LyondellBasell Industries ( LYB), up 1.3%, EOG Resources ( EOG), up 1.0% and Schlumberger ( SLB), up 0.9%. On the negative front, top decliners within the sector include Anglogold Ashanti ( AU), down 8.9%, Kinross Gold Corporation ( KGC), down 8.3%, Barrick Gold Corporation ( ABX), down 8.0%, Braskem ( BAK), down 8.2% and Goldcorp ( GG), down 5.5%.

TheStreet would like to highlight 3 stocks pushing the sector higher today:

3. National Oilwell Varco ( NOV) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, National Oilwell Varco is up $1.50 (2.1%) to $71.81 on average volume. Thus far, 1.7 million shares of National Oilwell Varco exchanged hands as compared to its average daily volume of 3.8 million shares. The stock has ranged in price between $70.87-$71.99 after having opened the day at $71.03 as compared to the previous trading day's close of $70.31.

National Oilwell Varco, Inc. provides equipment and components for oil and gas drilling and production; oilfield services; and supply chain integration services to the upstream oil and gas industry worldwide. National Oilwell Varco has a market cap of $29.9 billion and is part of the energy industry. Shares are up 2.5% year to date as of the close of trading on Wednesday. Currently there are 16 analysts that rate National Oilwell Varco a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates National Oilwell Varco as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full National Oilwell Varco Ratings Report now.

3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.

If you liked this article you might like

National Oilwell Varco in Rare Breakout-Mode Friday: Chart Shows the Trade

Anadarko Petroleum's Relative Strength Is Signaling Black Gold Ahead

Earning the Bulls' Trust: Cramer's 'Mad Money' Recap (Thursday 6/1/17)

Saudi Aramco to Sign 10 Energy Deals During Trump Visit