3 Stocks Pushing 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 down today with the Dow Jones Industrial Average ( ^DJI) trading down 205 points (-1.2%) at 16,675 as of Thursday, July 31, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 243 issues advancing vs. 2,822 declining with 89 unchanged.

The Basic Materials sector currently sits down 2.3% versus the S&P 500, which is down 1.5%. On the negative front, top decliners within the sector include YPF Sociedad Anonima ( YPF), down 9.2%, Petroleo Brasileiro SA Petrobras ( PBR), down 4.3%, PetroChina ( PTR), down 3.4%, Total ( TOT), down 3.2% and Suncor Energy ( SU), down 2.9%.

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

3. ConocoPhillips ( COP) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, ConocoPhillips is down $1.77 (-2.1%) to $82.86 on average volume. Thus far, 3.4 million shares of ConocoPhillips exchanged hands as compared to its average daily volume of 5.0 million shares. The stock has ranged in price between $82.37-$84.56 after having opened the day at $84.21 as compared to the previous trading day's close of $84.63.

ConocoPhillips explores for, develops, and produces crude oil, bitumen, natural gas, liquefied natural gas, and natural gas liquids worldwide. ConocoPhillips has a market cap of $104.0 billion and is part of the energy industry. Shares are up 19.8% year-to-date as of the close of trading on Wednesday. Currently there are 7 analysts that rate ConocoPhillips a buy, 3 analysts rate it a sell, and 6 rate it a hold.

TheStreet Ratings rates ConocoPhillips as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, attractive valuation levels, good cash flow from operations and growth in earnings per share. Although no company is perfect, currently we do not see any significant weaknesses which are likely to detract from the generally positive outlook. Get the full ConocoPhillips 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.

2. As of noon trading, Schlumberger ( SLB) is down $0.92 (-0.8%) to $109.35 on average volume. Thus far, 3.6 million shares of Schlumberger exchanged hands as compared to its average daily volume of 5.4 million shares. The stock has ranged in price between $107.94-$109.74 after having opened the day at $109.58 as compared to the previous trading day's close of $110.27.

Schlumberger Limited, together with its subsidiaries, supplies technology, integrated project management, and information solutions to oil and gas exploration and production industries worldwide. It operates through three groups: Reservoir Characterization, Drilling, and Production. Schlumberger has a market cap of $144.1 billion and is part of the energy industry. Shares are up 22.4% year-to-date as of the close of trading on Wednesday. Currently there are 23 analysts that rate Schlumberger a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Schlumberger 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, notable return on equity, solid stock price performance and good cash flow from operations. We feel these strengths outweigh the fact that the company has had sub par growth in net income. Get the full Schlumberger 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.

1. As of noon trading, Chevron ( CVX) is down $1.86 (-1.4%) to $130.67 on average volume. Thus far, 2.3 million shares of Chevron exchanged hands as compared to its average daily volume of 5.2 million shares. The stock has ranged in price between $130.59-$131.97 after having opened the day at $131.73 as compared to the previous trading day's close of $132.53.

Chevron Corporation, through its subsidiaries, is engaged in petroleum, chemicals, mining, power generation, and energy operations worldwide. The company operates in two segments, Upstream and Downstream. Chevron has a market cap of $252.1 billion and is part of the energy industry. Shares are up 6.1% year-to-date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Chevron a buy, 1 analyst rates it a sell, and 5 rate it a hold.

TheStreet Ratings rates Chevron as a buy. The company's strengths can be seen in multiple areas, such as its 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 somewhat weak growth in earnings per share. Get the full Chevron 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 are interested in one of these 3 stocks, ETFs may be of interest. Investors who are bullish on the basic materials sector could consider Materials Select Sector SPDR ( XLB) while those bearish on the basic materials sector could consider ProShares Short Basic Materials Fd ( SBM).

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