3 Energy Stocks Driving The Industry Higher

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All three major indices are trading up today with the Dow Jones Industrial Average ( ^DJI) trading up 17 points (0.1%) at 16,651 as of Thursday, May 29, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,820 issues advancing vs. 1,121 declining with 182 unchanged.

The Energy industry currently sits up 0.5% versus the S&P 500, which is up 0.2%. Top gainers within the industry include YPF Sociedad Anonima ( YPF), up 3.1%, Ecopetrol ( EC), up 1.5%, Noble Energy ( NBL), up 1.4%, Schlumberger ( SLB), up 1.1% and Valero Energy ( VLO), up 1.0%. On the negative front, top decliners within the industry include Enbridge ( ENB), down 1.2%, and ConocoPhillips ( COP), down 0.5%.

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

3. Phillips 66 ( PSX) is one of the companies pushing the Energy industry higher today. As of noon trading, Phillips 66 is up $0.82 (1.0%) to $83.81 on light volume. Thus far, 875,365 shares of Phillips 66 exchanged hands as compared to its average daily volume of 3.2 million shares. The stock has ranged in price between $82.82-$83.86 after having opened the day at $83.24 as compared to the previous trading day's close of $82.99.

Phillips 66 operates as an energy manufacturing and logistics company. It operates in four segments: Midstream, Chemicals, Refining, Marketing and Specialties. Phillips 66 has a market cap of $46.5 billion and is part of the basic materials sector. Shares are up 7.6% year-to-date as of the close of trading on Wednesday. Currently there are 8 analysts who rate Phillips 66 a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Phillips 66 as a buy. The company's strengths can be seen in multiple areas, such as its solid stock price performance, increase in net income, attractive valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company shows low profit margins. Get the full Phillips 66 Ratings Report now.

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