Cenovus Energy (CVE) closed the most recent trading day at $15.50, moving +1.97% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.03% for the day. On the other hand, the Dow registered a gain of 0.28%, and the technology-centric Nasdaq decreased by 0.36%.

Shares of the oil company witnessed a loss of 0.52% over the previous month, trailing the performance of the Oils-Energy sector with its gain of 0.76% and the S&P 500's gain of 4.19%.

The upcoming earnings release of Cenovus Energy will be of great interest to investors. The company's earnings report is expected on February 20, 2025. The company is expected to report EPS of $0.18, down 37.93% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $9.99 billion, reflecting a 3.56% rise from the equivalent quarter last year.

Investors might also notice recent changes to analyst estimates for Cenovus Energy. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.

Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 7.59% upward. Currently, Cenovus Energy is carrying a Zacks Rank of #3 (Hold).

From a valuation perspective, Cenovus Energy is currently exchanging hands at a Forward P/E ratio of 10.22. This denotes a discount relative to the industry's average Forward P/E of 11.56.

The Oil and Gas - Integrated - Canadian industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 47, placing it within the top 19% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow CVE in the coming trading sessions, be sure to utilize Zacks.com.

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