DVN, PSX And EOG, Pushing Energy Industry 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 87 points (0.5%) at 16,606 as of Thursday, May 8, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,938 issues advancing vs. 1,065 declining with 159 unchanged.

The Energy industry currently sits down 0.8% versus the S&P 500, which is up 0.5%. On the negative front, top decliners within the industry include Gulfport Energy ( GPOR), down 18.4%, Plains All American Pipeline ( PAA), down 3.1%, Petroleo Brasileiro SA Petrobras ( PBR), down 2.1%, Williams Partners ( WPZ), down 1.9% and Canadian Natural Resources ( CNQ), down 1.5%.

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

3. Devon Energy ( DVN) is one of the companies pushing the Energy industry lower today. As of noon trading, Devon Energy is down $2.04 (-2.8%) to $71.02 on heavy volume. Thus far, 3.1 million shares of Devon Energy exchanged hands as compared to its average daily volume of 3.4 million shares. The stock has ranged in price between $71.01-$73.22 after having opened the day at $72.93 as compared to the previous trading day's close of $73.06.

Devon Energy Corporation, an independent energy company, is engaged primarily in the exploration, development, and production of oil, natural gas, and natural gas liquids. Devon Energy has a market cap of $28.6 billion and is part of the basic materials sector. Shares are up 18.1% year-to-date as of the close of trading on Wednesday. Currently there are 12 analysts that rate Devon Energy a buy, no analysts rate it a sell, and 9 rate it a hold.

TheStreet Ratings rates Devon Energy as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance and impressive record of earnings per share growth. However, as a counter to these strengths, we find that the company has favored debt over equity in the management of its balance sheet. Get the full Devon 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 liked this article you might like

Smaller Oil Outfits' Prospects Energize Me

Dow Explodes, Apple Ahead - 5 Things You Must Know Before the Market Opens Tuesday

Devon Energy's Steep Slide Appears Over

Tesla and Apple Better Deliver Big-Time or Look Out Below -- Week Ahead