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

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Devon Energy ( DVN) pushed the Basic Materials sector lower today making it today's featured Basic Materials laggard. The sector as a whole closed the day up 1.6%. By the end of trading, Devon Energy fell $0.60 (-1.0%) to $57.29 on light volume. Throughout the day, 1,837,585 shares of Devon Energy exchanged hands as compared to its average daily volume of 3,182,400 shares. The stock ranged in price between $57.11-$57.85 after having opened the day at $57.65 as compared to the previous trading day's close of $57.89. Other companies within the Basic Materials sector that declined today were: Atlatsa Resources ( ATL), down 12.3%, Cardero Resources Corporation ( CDY), down 9.2%, Ossen Innovation ( OSN), down 7.9% and Houston American Energy Corporation ( HUSA), down 7.9%.

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 $23.1 billion and is part of the energy industry. Shares are up 11.2% year to date as of the close of trading on Friday. Currently there are 11 analysts that rate Devon Energy a buy, no analysts rate it a sell, and 12 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 weak operating cash flow.

On the positive front, USEC ( USU), up 153.7%, Crosshair Energy ( CXZ), up 31.8%, Jaguar Mining ( JAG), up 28.7% and International Tower Hill Mines ( THM), up 27.3% , were all gainers within the basic materials sector with Petroleo Brasileiro SA Petrobras ( PBR.A) being today's featured basic materials sector leader.

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).

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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