5 Stocks Boosting 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

All three major indices are trading down today with the Dow Jones Industrial Average ( ^DJI) trading down 22 points (-0.2%) at 14,556 as of Monday, April 1, 2013, 12:50 PM ET. The NYSE advances/declines ratio sits at 762 issues advancing vs. 2,184 declining with 121 unchanged.

The Energy industry currently sits down 1.2% versus the S&P 500, which is down 0.6%. Top gainers within the industry include Kinder Morgan ( KMI), up 1.2%, and Suncor Energy ( SU), up 0.8%. On the negative front, top decliners within the industry include Transocean ( RIG), down 2.1%, Tenaris ( TS), down 2.1%, Baker Hughes ( BHI), down 2.0%, Valero Energy Corporation ( VLO), down 1.7% and Halliburton Company ( HAL), down 1.7%.

TheStreet Ratings group would like to highlight 5 stocks pushing the industry higher today:

5. Cenovus Energy ( CVE) is one of the companies pushing the Energy industry higher today. As of noon trading, Cenovus Energy is up $0.37 (1.2%) to $31.36 on light volume Thus far, 313,498 shares of Cenovus Energy exchanged hands as compared to its average daily volume of 897,800 shares. The stock has ranged in price between $31.01-$31.37 after having opened the day at $31.05 as compared to the previous trading day's close of $30.99.

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 $23.4 billion and is part of the basic materials sector. The company has a P/E ratio of 23.5, above the S&P 500 P/E ratio of 17.7. Shares are down 7.6% year to date as of the close of trading on Thursday. Currently there are 10 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 reasonable 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 lackluster performance in the stock itself. Get the full Cenovus Energy Ratings Report now.

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