Cenovus Energy Inc. (CVE): Today's Featured Basic Materials Loser

Cenovus Energy ( CVE) pushed the Basic Materials sector lower today making it today's featured Basic Materials loser. The sector as a whole closed the day up 0.1%. By the end of trading, Cenovus Energy fell 65 cents (-1.9%) to $32.60 on average volume. Throughout the day, 1.8 million shares of Cenovus Energy exchanged hands as compared to its average daily volume of 1.2 million shares. The stock ranged in price between $32.42-$33.37 after having opened the day at $33.25 as compared to the previous trading day's close of $33.25. Other company's within the Basic Materials sector that declined today were: Whiting USA Trust I ( WHX), down 34.4%, Sanchez Energy ( SN), down 10.9%, Cubic Energy ( QBC), down 10.1%, and Mexco Energy Corporation ( MXC), down 9.8%.

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 $24.77 billion and is part of the energy industry. The company has a P/E ratio of 13.3, equal to the average energy industry P/E ratio and below the S&P 500 P/E ratio of 17.7. Shares are down 1.1% year to date as of the close of trading on Tuesday. Currently there are eight analysts that rate Cenovus Energy a buy, one analyst rates it a sell, and four rate it a hold.

TheStreet Ratings rates Cenovus Energy as a hold. The company's strengths can be seen in multiple areas, such as its robust revenue growth, compelling growth in net income and impressive record of earnings per share growth. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, poor profit margins and generally poor debt management.

On the positive front, Voyager Oil & Gas ( VOG), up 9.8%, China Gengsheng Minerals ( CHGS), up 8.9%, Isramco ( ISRL), up 8.2%, and GeoMet ( GMET), up 7.1%, were all gainers within the basic materials sector with Baker Hughes ( BHI) being today's featured basic materials sector winner.

For investors not wanting singular stock exposure, 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).
null

If you liked this article you might like

Cenovus Energy Gets Quantitative Upgrade; Improving Charts

Cenovus Energy Gets Quantitative Upgrade; Improving Charts

Cenovus Energy's Quantitative Upgrade Evinces Improving Charts

Cenovus Energy's Quantitative Upgrade Evinces Improving Charts

These Stocks Are Ready to Reverse Course

These Stocks Are Ready to Reverse Course

Exclusive: ConocoPhillips to Sell Large Mid-Continent Gas Portfolio

Exclusive: ConocoPhillips to Sell Large Mid-Continent Gas Portfolio

ConocoPhillips Is About to Get Smoking Hot

ConocoPhillips Is About to Get Smoking Hot