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

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 higher today making it today's featured basic materials winner. The sector as a whole closed the day down 1.1%. By the end of trading, Devon Energy rose $0.88 (1.6%) to $56.68 on heavy volume. Throughout the day, 7,085,233 shares of Devon Energy exchanged hands as compared to its average daily volume of 2,907,500 shares. The stock ranged in a price between $55.15-$57.60 after having opened the day at $57.50 as compared to the previous trading day's close of $55.80. Other companies within the Basic Materials sector that increased today were: BMB Munai ( BMBM), up 24.5%, SMF Energy Corporation ( FUEL), up 12.5%, Tesco Corporation ( TESO), up 10.3% and Tetra Technologies ( TTI), up 9.3%.

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 $22.7 billion and is part of the energy industry. Shares are up 7.2% year to date as of the close of trading on Tuesday. Currently there are 9 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 negative front, Sibanye Gold Ltd ADR ( SBGL), down 46.9%, Axiall ( AXLL), down 19.2%, Verenium Corporation ( VRNM), down 16.2% and Allied Nevada Gold ( ANV), down 14.7% , were all laggards within the basic materials sector with Suncor Energy ( SU) being today's basic materials sector laggard.

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).

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