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.

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

2. As of noon trading, Tesoro Corporation ( TSO) is down $2.92 (-5.8%) to $47.03 on heavy volume. Thus far, 5.6 million shares of Tesoro Corporation exchanged hands as compared to its average daily volume of 3.6 million shares. The stock has ranged in price between $46.40-$48.80 after having opened the day at $47.47 as compared to the previous trading day's close of $49.95.

Tesoro Corporation, together with its subsidiaries, engages in refining and marketing petroleum products in the United States. It operates in two segments, Refining and Retail. Tesoro Corporation has a market cap of $6.7 billion and is part of the energy industry. Shares are down 14.6% year-to-date as of the close of trading on Wednesday. Currently there are 6 analysts that rate Tesoro Corporation a buy, no analysts rate it a sell, and 5 rate it a hold.

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

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

1. As of noon trading, Chesapeake Energy ( CHK) is down $1.58 (-6.0%) to $24.63 on heavy volume. Thus far, 19.4 million shares of Chesapeake Energy exchanged hands as compared to its average daily volume of 8.3 million shares. The stock has ranged in price between $24.45-$25.58 after having opened the day at $25.58 as compared to the previous trading day's close of $26.21.

Chesapeake Energy Corporation engages in the acquisition, exploration, development, and production of natural gas and oil properties in the United States. The company also offers marketing, midstream, drilling, and other oilfield services. Chesapeake Energy has a market cap of $17.7 billion and is part of the energy industry. Shares are down 3.4% year-to-date as of the close of trading on Wednesday. Currently there are 5 analysts that rate Chesapeake Energy a buy, 1 analyst rates it a sell, and 18 rate it a hold.

TheStreet Ratings rates Chesapeake Energy as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, compelling growth in net income, good cash flow from operations and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated. Get the full Chesapeake Energy Ratings Report now.

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

If you are interested in one of these 5 stocks, 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).

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