Zacks Research reports that Cenovus Energy Inc. (CVE), based in Calgary, Canada, is currently rated #3 (Hold) with a VGM Score of A. CVE operates in the oil and gas sector, primarily in Alberta and British Columbia, and supplies oil to the U.S. Gulf Coast via the Enbridge Flanagan South pipeline. Over the last 60 days, three analysts have increased their earnings estimates for fiscal 2024, with the Zacks Consensus Estimate rising from $1.73 to $2.05 per share.
CVE has shown upward momentum, with shares rising 1.5% in the past month and an average earnings surprise of 16.2%. The company is noted for its strong position within the energy sector and is highlighted for potential future gains.
The Zacks Rank system reports an average annual return of +25.41% for #1 rated stocks since 1988, emphasizing the importance of combining Zacks Rank with Style Scores for stock picking strategies.
