3 Stocks Pushing The Basic Materials Sector Lower

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 84 points (0.5%) at 17,140 as of Wednesday, Sept. 24, 2014, 12:55 PM ET. The NYSE advances/declines ratio sits at 1,536 issues advancing vs. 1,417 declining with 186 unchanged.

The Basic Materials sector currently sits down 0.5% versus the S&P 500, which is up 0.4%. On the negative front, top decliners within the sector include Halliburton ( HAL), down 2.1%, Enbridge ( ENB), down 1.8%, Suncor Energy ( SU), down 1.6%, Chevron ( CVX), down 1.5% and Ecopetrol ( EC), down 1.5%. Top gainers within the sector include China Petroleum & Chemical ( SNP), up 3.1%, PetroChina ( PTR), up 2.8%, Total ( TOT), up 2.3%, Energy Transfer Equity ( ETE), up 1.5% and Occidental Petroleum ( OXY), up 0.8%.

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

3. Imperial Oil ( IMO) is one of the companies pushing the Basic Materials sector lower today. As of noon trading, Imperial Oil is down $0.55 (-1.1%) to $47.86 on average volume. Thus far, 84,678 shares of Imperial Oil exchanged hands as compared to its average daily volume of 172,100 shares. The stock has ranged in price between $47.55-$48.50 after having opened the day at $48.22 as compared to the previous trading day's close of $48.41.

Imperial Oil Limited is engaged in the exploration for, production, and sale of crude oil and natural gas in Canada. The company operates through three segments: Upstream, Downstream, and Chemical. Imperial Oil has a market cap of $40.9 billion and is part of the energy industry. Shares are up 9.4% year-to-date as of the close of trading on Tuesday. Currently there are no analysts that rate Imperial Oil a buy, 1 analyst rates it a sell, and 2 rate it a hold.

TheStreet Ratings rates Imperial Oil as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in stock price during the past year, attractive valuation levels, good cash flow from operations and compelling growth in net income. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity. Get the full Imperial Oil 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, Canadian Natural Resources ( CNQ) is down $0.46 (-1.2%) to $39.22 on heavy volume. Thus far, 3.4 million shares of Canadian Natural Resources exchanged hands as compared to its average daily volume of 2.2 million shares. The stock has ranged in price between $38.75-$39.63 after having opened the day at $39.62 as compared to the previous trading day's close of $39.68.

Canadian Natural Resources Limited explores for, develops, produces, markets, and sells crude oil, natural gas liquids (NGLs), and natural gas in North America. Canadian Natural Resources has a market cap of $43.1 billion and is part of the energy industry. Shares are up 17.3% year-to-date as of the close of trading on Tuesday. Currently there are 9 analysts that rate Canadian Natural Resources a buy, no analysts rate it a sell, and 1 rates it a hold.

TheStreet Ratings rates Canadian Natural Resources as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, attractive valuation levels, expanding profit margins and good cash flow from operations. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results. Get the full Canadian Natural Resources 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, Phillips 66 ( PSX) is down $0.84 (-1.0%) to $82.42 on light volume. Thus far, 1.1 million shares of Phillips 66 exchanged hands as compared to its average daily volume of 3.0 million shares. The stock has ranged in price between $81.61-$82.97 after having opened the day at $82.95 as compared to the previous trading day's close of $83.26.

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 $46.9 billion and is part of the energy industry. Shares are up 8.0% year-to-date as of the close of trading on Tuesday. Currently there are 8 analysts that 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 revenue growth, solid stock price performance, 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 has had sub par growth in net income. Get the full Phillips 66 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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