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

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.

Cenovus Energy ( CVE) pushed the Basic Materials sector higher today making it today's featured basic materials winner. The sector as a whole closed the day down 0.3%. By the end of trading, Cenovus Energy rose $0.46 (1.6%) to $28.86 on average volume. Throughout the day, 1,686,574 shares of Cenovus Energy exchanged hands as compared to its average daily volume of 1,181,600 shares. The stock ranged in a price between $28.32-$29.04 after having opened the day at $28.37 as compared to the previous trading day's close of $28.40. Other companies within the Basic Materials sector that increased today were: Methes Energies International ( MEIL), up 42.7%, International Tower Hill Mines ( THM), up 26.0%, Samson Oil & Gas ( SSN), up 12.6% and TransAtlantic Petroleum ( TAT), up 12.1%.

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 $21.4 billion and is part of the energy industry. Shares are down 15.3% 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 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 and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, feeble growth in the company's earnings per share and deteriorating net income.

On the negative front, Lone Pine Resources ( LPR), down 34.4%, Crosshair Energy ( CXZ), down 12.5%, China Gengsheng Minerals ( CHGS), down 10.3% and Gulf Resources ( GURE), down 7.0% , were all laggards within the basic materials sector with Monsanto Company ( MON) being today's basic materials sector laggard.

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).

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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