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4 Stocks Pushing The Energy Industry Higher

Editor's Note: TheStreet ratings do not represent the views of TheStreet's staff or its contributors. Ratings are established by computer based on metrics for performance (which includes growth, stock performance, efficiency and valuation) and risk (volatility and solvency). Companies with poor cash flow or high debt levels tend to earn lower ratings in our model

Two out of the three major indices are trading lower today with the Dow Jones Industrial Average ( ^DJI) trading down 19 points (-0.1%) at 13,006 as of Monday, Dec. 3, 2012, 11:50 AM ET. The NYSE advances/declines ratio sits at 1,239 issues advancing vs. 1,655 declining with 129 unchanged.

The Energy industry currently sits up 0.2% versus the S&P 500, which is down 0.1%. Top gainers within the industry include Anadarko Petroleum ( APC), up 1.5%, Imperial Oil ( IMO), up 1.0%, EOG Resources ( EOG), up 0.7% and ConocoPhillips ( COP), up 0.4%. A company within the industry that fell today was Chevron ( CVX), up 0.6%.

TheStreet Ratings group would like to highlight 4 stocks pushing the industry higher today:

4. Cenovus Energy ( CVE) is one of the companies pushing the Energy industry higher today. As of noon trading, Cenovus Energy is up $0.55 (1.6%) to $33.90 on average volume Thus far, 403,128 shares of Cenovus Energy exchanged hands as compared to its average daily volume of 878,800 shares. The stock has ranged in price between $33.53-$34.05 after having opened the day at $33.63 as compared to the previous trading day's close of $33.35.

Cenovus Energy Inc., an integrated oil company, together with its subsidiaries, engages in the development, production, and marketing of bitumen, crude oil, natural gas, and natural gas liquids (NGLs) in Canada with refining operations in the United States. Cenovus Energy has a market cap of $25.1 billion and is part of the basic materials sector. The company has a P/E ratio of 18.1, above the S&P 500 P/E ratio of 17.7. Shares are up 0.3% year to date as of the close of trading on Friday. Currently there are 9 analysts that rate Cenovus Energy a buy, no analysts rate it a sell, and 3 rate it a hold.

TheStreet Ratings rates Cenovus Energy as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations, largely solid financial position with reasonable debt levels by most measures 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 Cenovus Energy Ratings Report now.

EXCLUSIVE OFFER: Jim Cramer's Protégé, Dave Peltier, only buys Stocks Under $10 that he thinks could potentially double. See what he's trading today with a 14-day FREE pass

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