3 Stocks Pulling The Basic Materials Sector 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 21 points (0.1%) at 16,839 as of Wednesday, June 25, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,709 issues advancing vs. 1,282 declining with 166 unchanged.

The Basic Materials sector currently sits up 0.3% versus the S&P 500, which is up 0.2%. On the negative front, top decliners within the sector include Valero Energy ( VLO), down 10.3%, Marathon Petroleum ( MPC), down 7.9%, Phillips 66 ( PSX), down 5.1%, Statoil ASA ( STO), down 1.4% and Exxon Mobil Corporation ( XOM), down 1.0%. Top gainers within the sector include Schlumberger ( SLB), up 4.7%, Pioneer Natural Resources ( PXD), up 3.8%, Devon Energy ( DVN), up 2.0%, EOG Resources ( EOG), up 2.0% and Baker Hughes ( BHI), up 1.9%.

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

3. HollyFrontier ( HFC) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, HollyFrontier is down $3.99 (-8.2%) to $44.98 on heavy volume. Thus far, 7.1 million shares of HollyFrontier exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $44.75-$47.00 after having opened the day at $46.75 as compared to the previous trading day's close of $48.97.

HollyFrontier Corporation operates as an independent petroleum refiner in the United States. It produces high-value refined products, such as gasoline, diesel fuel, jet fuel, specialty lubricant products, liquid petroleum gas, fuel oil, and specialty and modified asphalt. HollyFrontier has a market cap of $9.9 billion and is part of the energy industry. Shares are down 1.4% year-to-date as of the close of trading on Tuesday. Currently there are 3 analysts that rate HollyFrontier a buy, 1 analyst rates it a sell, and 9 rate it a hold.

TheStreet Ratings rates HollyFrontier as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, attractive valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full HollyFrontier Ratings Report now.

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