3 Stocks Dragging The Basic Materials Sector Downward

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.

All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 147 points (1.0%) at 15,587 as of Thursday, Feb. 6, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 2,311 issues advancing vs. 626 declining with 152 unchanged.

The Basic Materials sector currently sits up 1.1% versus the S&P 500, which is up 1.0%. Top gainers within the sector include Tenaris ( TS), up 4.0%, Petroleo Brasileiro SA Petrobras ( PBR), up 3.7%, Vale ( VALE), up 2.9%, EOG Resources ( EOG), up 2.7% and BP ( BP), up 2.5%.

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

3. China Petroleum & Chemical Corporation ( SNP) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, China Petroleum & Chemical Corporation is down $1.06 (-1.4%) to $75.01 on heavy volume. Thus far, 190,411 shares of China Petroleum & Chemical Corporation exchanged hands as compared to its average daily volume of 133,300 shares. The stock has ranged in price between $74.76-$75.78 after having opened the day at $75.73 as compared to the previous trading day's close of $76.07.

China Petroleum & Chemical Corporation, an energy and chemical company, through its subsidiaries, engages in the oil and gas, and chemical operations in the People's Republic of China. China Petroleum & Chemical Corporation has a market cap of $91.1 billion and is part of the energy industry. Shares are down 7.4% year-to-date as of the close of trading on Wednesday. Currently there are 2 analysts that rate China Petroleum & Chemical Corporation a buy, no analysts rate it a sell, and none rate it a hold.

TheStreet Ratings rates China Petroleum & Chemical Corporation as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income, attractive valuation levels, impressive record of earnings per share growth and notable return on equity. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full China Petroleum & Chemical Corporation Ratings Report now.

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