3 Stocks Raising The Energy Industry Higher

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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 202 points (-1.2%) at 16,120 as of Monday, March 3, 2014, 11:55 AM ET. The NYSE advances/declines ratio sits at 729 issues advancing vs. 2,228 declining with 140 unchanged.

The Energy industry currently sits down 0.2% versus the S&P 500, which is down 1.0%. On the negative front, top decliners within the industry include Tenaris ( TS), down 2.3%, Petroleo Brasileiro SA Petrobras ( PBR), down 2.0%, PetroChina ( PTR), down 1.2% and China Petroleum & Chemical Corporation ( SNP), down 0.9%.

TheStreet would like to highlight 3 stocks pushing the industry higher today:

3. Statoil ASA ( STO) is one of the companies pushing the Energy industry higher today. As of noon trading, Statoil ASA is up $0.61 (2.3%) to $26.95 on heavy volume. Thus far, 1.1 million shares of Statoil ASA exchanged hands as compared to its average daily volume of 1.2 million shares. The stock has ranged in price between $26.91-$27.17 after having opened the day at $27.04 as compared to the previous trading day's close of $26.34.

Statoil ASA, an integrated energy company, engages in the exploration, production, transportation, refining, and marketing of petroleum and petroleum-derived products in Norway and internationally. Statoil ASA has a market cap of $83.7 billion and is part of the basic materials sector. Shares are up 9.2% year-to-date as of the close of trading on Friday. Currently there are 6 analysts who rate Statoil ASA a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Statoil ASA as a buy. The company's strengths can be seen in multiple areas, such as its attractive valuation levels, expanding profit margins, largely solid financial position with reasonable debt levels by most measures and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Statoil ASA Ratings Report now.

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