5 Basic Materials Stocks Pushing Sector Growth

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 12 points (0.1%) at 14,943 as of Thursday, Sept. 5, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 1,432 issues advancing vs. 1,453 declining with 120 unchanged.

The Basic Materials sector currently sits up 0.3% versus the S&P 500, which is up 0.2%. Top gainers within the sector include Petroleo Brasileiro SA Petrobras ( PBR), up 5.5%, Schlumberger ( SLB), up 2.0%, Halliburton Company ( HAL), up 2.0%, Vale ( VALE), up 1.2% and Dow Chemical ( DOW), up 1.3%. On the negative front, top decliners within the sector include Newmont Mining Corporation ( NEM), down 3.7%, and Goldcorp ( GG), down 2.5%.

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

5. PetroChina ( PTR) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, PetroChina is up $1.89 (1.7%) to $111.30 on average volume. Thus far, 77,113 shares of PetroChina exchanged hands as compared to its average daily volume of 187,000 shares. The stock has ranged in price between $111.01-$111.94 after having opened the day at $111.50 as compared to the previous trading day's close of $109.41.

PetroChina Company Limited produces and sells oil and gas in the People's Republic of China. The company operates in four segments: Exploration and Production, Refining and Chemicals, Marketing, and Natural Gas and Pipeline. PetroChina has a market cap of $203.3 billion and is part of the energy industry. Shares are down 23.9% year to date as of the close of trading on Wednesday. Currently there are 3 analysts that rate PetroChina a buy, 1 analyst rates it a sell, and none rate it a hold.

TheStreet Ratings rates PetroChina as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income, attractive valuation levels, growth in earnings per share and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full PetroChina Ratings Report now.

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