3 Basic Materials Stocks Dragging The Sector Down

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 16 points (0.1%) at 16,549 as of Thursday, May 22, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 2,112 issues advancing vs. 834 declining with 184 unchanged.

The Basic Materials sector currently sits up 0.6% versus the S&P 500, which is up 0.4%. Top gainers within the sector include Anadarko Petroleum ( APC), up 1.6%, Phillips 66 ( PSX), up 1.2% and China Petroleum & Chemical ( SNP), up 0.7%.

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

3. Ecopetrol ( EC) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Ecopetrol is down $0.26 (-0.7%) to $37.48 on light volume. Thus far, 177,731 shares of Ecopetrol exchanged hands as compared to its average daily volume of 570,800 shares. The stock has ranged in price between $37.40-$37.92 after having opened the day at $37.92 as compared to the previous trading day's close of $37.74.

Ecopetrol S.A., an integrated oil company, is engaged in the exploration, development, and production of crude oil and natural gas primarily in Colombia, Peru, Brazil, and the United States Gulf Coast. Ecopetrol has a market cap of $76.6 billion and is part of the energy industry. Shares are down 1.9% year-to-date as of the close of trading on Wednesday. Currently there is 1 analyst that rates Ecopetrol a buy, 2 analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Ecopetrol as a buy. Among the primary strengths of the company is its revenue growth. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share. Get the full Ecopetrol Ratings Report now.

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