- Oops!Something went wrong.Please try again later.
One stock that might be an intriguing choice for investors right now is Cenovus Energy Inc. CVE. This is because this security in the Oil and Gas - Integrated - Canadian space is seeing solid earnings estimate revision activity, and is in great company from a Zacks Industry Rank perspective.
This is important because, often times, a rising tide will lift all boats in an industry, as there can be broad trends taking place in a segment that are boosting securities across the board. This is arguably taking place in the Oil and Gas - Integrated - Canadian space as it currently has a Zacks Industry Rank of 2 out of more than 250 industries, suggesting it is well-positioned from this perspective, especially when compared to other segments out there.
Meanwhile, Cenovus Energy is actually looking pretty good on its own too. The firm has seen solid earnings estimate revision activity over the past month, suggesting analysts are becoming a bit more bullish on the firm’s prospects in both the short and long term.
Cenovus Energy Inc Price and Consensus
Cenovus Energy Inc price-consensus-chart | Cenovus Energy Inc Quote
In fact, over the past month, current quarter estimates have moved from a loss of 3 cents per share to a profit of 15 cents per share, while current year estimates have moved from a loss of 5 cents per share to a profit of 63 cents per share. The company currently carries a Zacks Rank #3 (Hold), which is also a favorable signal. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
So, if you are looking for a decent pick in a strong industry, consider Cenovus Energy. Not only is its industry currently in the top third, but it is seeing solid estimate revisions as of late, suggesting it could be a very interesting choice for investors seeking a name in this great industry segment.
Zacks Top 10 Stocks for 2021
In addition to the stocks discussed above, would you like to know about our 10 best buy-and-hold tickers for the entirety of 2021?
Last year's 2020Zacks Top 10 Stocks portfolio returned gains as high as +386.8%. Now a brand-new portfolio has been handpicked from over 4,000 companies covered by the Zacks Rank. Don’t miss your chance to get in on these long-term buys.
AccessZacks Top 10 Stocks for 2021 today >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Cenovus Energy Inc (CVE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research