3 Stocks Pushing The Energy Industry Downward

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 76 points (0.5%) at 16,332 as of Wednesday, April 9, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,886 issues advancing vs. 1,057 declining with 161 unchanged.

The Energy industry currently sits up 0.5% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the industry include Diamond Offshore Drilling ( DO), down 4.8%, Petroleo Brasileiro SA Petrobras ( PBR.A), down 2.0% and Ecopetrol S.A ( EC), down 1.0%. Top gainers within the industry include China Petroleum & Chemical Corporation ( SNP), up 3.1%, Energy Transfer Equity ( ETE), up 3.0%, Valero Energy Corporation ( VLO), up 1.8%, ConocoPhillips ( COP), up 1.3% and Total ( TOT), up 1.2%.

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

3. Transocean ( RIG) is one of the companies pushing the Energy industry lower today. As of noon trading, Transocean is down $1.11 (-2.6%) to $40.92 on average volume. Thus far, 3.7 million shares of Transocean exchanged hands as compared to its average daily volume of 5.5 million shares. The stock has ranged in price between $40.76-$42.52 after having opened the day at $42.52 as compared to the previous trading day's close of $42.03.

Transocean Ltd., together with its subsidiaries, provides offshore contract drilling services for oil and gas wells worldwide. The company provides deepwater and harsh environment drilling, oil and gas drilling management, and drilling engineering and drilling project management services. Transocean has a market cap of $14.9 billion and is part of the basic materials sector. Shares are down 14.9% year-to-date as of the close of trading on Tuesday. Currently there are 5 analysts that rate Transocean a buy, 4 analysts rate it a sell, and 14 rate it a hold.

TheStreet Ratings rates Transocean as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including unimpressive growth in net income, poor profit margins and weak operating cash flow. Get the full Transocean Ratings Report now.

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