Top Canadian Stocks to Watch - February 27th

Today, three Canadian stocks stand out according to the latest insights from stock screening tools. These companies have generated significant interest due to their recent trading performance. The stocks in focus are CSX, Cenovus Energy, and Ovintiv. Investing in Canadian stocks means purchasing shares of companies based in Canada, which are usually traded on major Canadian exchanges, including the Toronto Stock Exchange. These stocks represent a piece of ownership in the companies, granting investors potential gains through growth and dividends while being subject to Canada's economic environment.

CSX (CSX)

CSX Corporation specializes in rail-based freight transportation services, providing a range of transportation solutions, including intermodal container shipping and bulk commodity operations. Its extensive services include the movement of various goods such as chemicals, agricultural products, metals, and coal.

On Thursday, CSX shares experienced a slight increase of $0.10, bringing the stock price to $32.08. Over the past few days, the trading volume for CSX was notable at 3,064,096 shares, although this was below its average of 13,925,537. The company's stock has fluctuated between a 12-month low of $31.43 and a high of $38.61. Important financial metrics include a market capitalization of $61.85 billion, a P/E ratio of 17.91, and a beta of 1.23, indicating a moderate risk compared to the market.

Cenovus Energy (CVE)

Cenovus Energy Inc. is engaged in the exploration, production, refining, transportation, and marketing of crude oil and natural gas, both in Canada and internationally. The company operates through several segments, including Oil Sands and Canadian Refining.

During midday trading on Thursday, shares of Cenovus Energy saw a decrease of $0.11, hitting $13.82 with a trading volume of 6,723,442 shares, slightly lower than its typical volume of 10,731,064. The stock has a market cap of $25.20 billion and a P/E ratio of 11.45, reflecting its valuation relative to earnings. The stock has shown a low of $13.76 and a high of $21.90 in the past year.

Ovintiv (OVV)

Ovintiv Inc. focuses on the exploration and production of natural gas and oil, operating primarily in Canada and the United States. Key assets include resources in the Permian Basin and other significant sites across the two countries.

On Thursday, Ovintiv shares rose by $1.48, bringing the trading price to $43.38, with a volume of 2,095,670. This is above its average volume of 2,497,400. With a market capitalization of $11.29 billion, a P/E ratio of 5.74, and a relatively high beta of 2.60, Ovintiv presents a high-risk, high-reward investment landscape. Over the past year, the stock has fluctuated between a low of $36.90 and a high of $55.95.

Investors may find these stocks worth monitoring as they navigate through the market landscape and assess potential investment opportunities going forward.

Stocks, CSX, Cenovus, Ovintiv, Canada