Today's Top Performers In Basic Materials
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 42 points (-0.3%) at 15,847 as of Thursday, Dec. 5, 2013, 11:45 AM ET. The NYSE advances/declines ratio sits at 971 issues advancing vs. 1,916 declining with 131 unchanged.The Basic Materials sector currently sits down 0.2% versus the S&P 500, which is down 0.4%. Top gainers within the sector include Cheniere Energy (LNG), up 4.6%, Range Resources Corporation (RRC), up 2.5%, Encana (ECA), up 2.1%, Ecopetrol S.A (EC), up 2.0% and FMC Technologies (FTI), up 2.0%. On the negative front, top decliners within the sector include Precision Drilling (PDS), down 9.4%, El Paso Pipeline Partners (EPB), down 2.8%, Magellan Midstream Partners L.P (MMP), down 1.9%, Kinder Morgan (KMI), down 1.6% and Goldcorp (GG), down 1.2%.TheStreet would like to highlight 5 stocks pushing the sector higher today:5. Cenovus Energy (CVE) is one of the companies pushing the Basic Materials sector higher today. As of noon trading, Cenovus Energy is up $0.44 (1.5%) to $29.73 on light volume. Thus far, 212,841 shares of Cenovus Energy exchanged hands as compared to its average daily volume of 862,200 shares. The stock has ranged in price between $29.15-$29.74 after having opened the day at $29.20 as compared to the previous trading day's close of $29.29. 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 $22.1 billion and is part of the energy industry. The company has a P/E ratio of 37.9, above the S&P 500 P/E ratio of 17.7. Shares are down 12.9% year to date as of the close of trading on Wednesday. Currently there are 8 analysts that rate Cenovus Energy a buy, no analysts rate it a sell, and 1 rates it a hold.TheStreet Ratings rates Cenovus Energy as a hold. The company's strengths can be seen in multiple areas, such as its revenue growth, increase in net income and growth in earnings per share. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, disappointing return on equity and weak operating cash flow. Get the full Cenovus Energy Ratings Report now.3x UPSIDE POTENTIAL: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12-months. Learn more.
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