With investors looking for value, why not turn to a company that's lagged the markets but still has a ton of upside potential? Cramer said Cenovus Energy (CVE) is one such company, one that pays a bountiful 3.4% yield yet has seen its shares fall 2.7% over the past 12 months.

Cenovus is one of the fastest-growing oil producers in the Canadian oil sands but was plagued by operational issues that made for a tough 2013. But while the market has taken a "wait and see" approach, Cramer said he thinks the company's issues are behind them and it won't be long before the stock warrants the premium it once had. (Cited from The Street)