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Cenovus Energy Inc (CVE) Hits Fresh High: Is There Still Room to Run?
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A strong stock as of late has been Cenovus Energy (CVE - Free Report) . Shares have been marching higher, with the stock up 11.4% over the past month. The stock hit a new 52-week high of $28.82 in the previous session. Cenovus has gained 69.9% since the start of the year compared to the 31.6% move for the Zacks Oils-Energy sector and the 58.1% return for the Zacks Oil and Gas - Integrated - Canadian industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on February 19, 2026, Cenovus reported EPS of $0.36 versus consensus estimate of $0.28 while it missed the consensus revenue estimate by 19.2%.
For the current fiscal year, Cenovus is expected to post earnings of $2.28 per share on $35.99 in revenues. This represents a 48.05% change in EPS on a 1.22% change in revenues. For the next fiscal year, the company is expected to earn $2.06 per share on $35.69 in revenues. This represents a year-over-year change of -9.79% and -0.83%, respectively.
Valuation Metrics
Cenovus may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Cenovus has a Value Score of C. The stock's Growth and Momentum Scores are B and F, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 12.6X current fiscal year EPS estimates, which is not in-line with the peer industry average of 14X. On a trailing cash flow basis, the stock currently trades at 8.3X versus its peer group's average of 10.9X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Cenovus currently has a Zacks Rank of #1 (Strong Buy) thanks to a solid earnings estimate revision trend.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Cenovus meets the list of requirements. Thus, it seems as though Cenovus shares could have potential in the weeks and months to come.
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Cenovus Energy Inc (CVE) Hits Fresh High: Is There Still Room to Run?
A strong stock as of late has been Cenovus Energy (CVE - Free Report) . Shares have been marching higher, with the stock up 11.4% over the past month. The stock hit a new 52-week high of $28.82 in the previous session. Cenovus has gained 69.9% since the start of the year compared to the 31.6% move for the Zacks Oils-Energy sector and the 58.1% return for the Zacks Oil and Gas - Integrated - Canadian industry.
What's Driving the Outperformance?
The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consensus estimate in any of the last four quarters. In its last earnings report on February 19, 2026, Cenovus reported EPS of $0.36 versus consensus estimate of $0.28 while it missed the consensus revenue estimate by 19.2%.
For the current fiscal year, Cenovus is expected to post earnings of $2.28 per share on $35.99 in revenues. This represents a 48.05% change in EPS on a 1.22% change in revenues. For the next fiscal year, the company is expected to earn $2.06 per share on $35.69 in revenues. This represents a year-over-year change of -9.79% and -0.83%, respectively.
Valuation Metrics
Cenovus may be at a 52-week high right now, but what might the future hold for the stock? A key aspect of this question is taking a look at valuation metrics in order to determine if the company has run ahead of itself.
On this front, we can look at the Zacks Style Scores, as they provide investors with an additional way to sort through stocks (beyond looking at the Zacks Rank of a security). The individual style scores for Value, Growth, Momentum and the combined VGM Score run from A through F. The idea behind the style scores is to help investors pick the most appropriate Zacks Rank stocks based on their individual investment style.
Cenovus has a Value Score of C. The stock's Growth and Momentum Scores are B and F, respectively, giving the company a VGM Score of B.
In terms of its value breakdown, the stock currently trades at 12.6X current fiscal year EPS estimates, which is not in-line with the peer industry average of 14X. On a trailing cash flow basis, the stock currently trades at 8.3X versus its peer group's average of 10.9X. This isn't enough to put the company in the top echelon of all stocks we cover from a value perspective.
Zacks Rank
We also need to look at the Zacks Rank for the stock, as this supersedes any trend on the style score front. Fortunately, Cenovus currently has a Zacks Rank of #1 (Strong Buy) thanks to a solid earnings estimate revision trend.
Since we recommend that investors select stocks carrying Zacks Rank of 1 (Strong Buy) or 2 (Buy) and Style Scores of A or B, it looks as if Cenovus meets the list of requirements. Thus, it seems as though Cenovus shares could have potential in the weeks and months to come.