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Wall Street's Insights Into Key Metrics Ahead of Cenovus (CVE) Q4 Earnings
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Analysts on Wall Street project that Cenovus Energy (CVE - Free Report) will announce quarterly earnings of $0.18 per share in its forthcoming report, representing a decline of 37.9% year over year. Revenues are projected to reach $9.99 billion, increasing 3.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 15.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Cenovus metrics that are commonly tracked and projected by analysts on Wall Street.
The average prediction of analysts places 'Total Upstream Production' at 811.03 millions of barrels of oil equivalent per day. Compared to the present estimate, the company reported 808.6 millions of barrels of oil equivalent per day in the same quarter last year.
According to the collective judgment of analysts, 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Christina Lake' should come in at 251.37 millions of barrels of oil per day. Compared to the present estimate, the company reported 237.4 millions of barrels of oil per day in the same quarter last year.
The collective assessment of analysts points to an estimated 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Foster Creek' of 191.78 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 186.3 millions of barrels of oil per day.
Analysts expect 'Upstream - Total Conventional Natural Gas Production' to come in at 846.64 millions of cubic feet per day. The estimate is in contrast to the year-ago figure of 876.3 millions of cubic feet per day.
Analysts' assessment points toward 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Sunrise' reaching 53.16 millions of barrels of oil per day. Compared to the current estimate, the company reported 48.9 millions of barrels of oil per day in the same quarter of the previous year.
The consensus among analysts is that 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Conventional Heavy Oil' will reach 16.15 millions of barrels of oil per day. Compared to the present estimate, the company reported 16.7 millions of barrels of oil per day in the same quarter last year.
It is projected by analysts that the 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production' will reach 620.79 millions of barrels of oil per day. Compared to the present estimate, the company reported 593.4 millions of barrels of oil per day in the same quarter last year.
Based on the collective assessment of analysts, 'Downstream - Total Canadian Refining - Heavy Crude Oil Unit Throughput' should arrive at 100.98 millions of barrels of oil per day. The estimate compares to the year-ago value of 110.5 millions of barrels of oil per day.
The combined assessment of analysts suggests that 'Upstream - Total Conventional Natural Gas Production - Conventional' will likely reach 567.33 millions of cubic feet per day. The estimate is in contrast to the year-ago figure of 832.6 millions of cubic feet per day.
Analysts predict that the 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Therma' will reach 108.54 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 104.1 millions of barrels of oil per day.
Over the past month, Cenovus shares have recorded returns of +1.7% versus the Zacks S&P 500 composite's +4.7% change. Based on its Zacks Rank #3 (Hold), CVE will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Wall Street's Insights Into Key Metrics Ahead of Cenovus (CVE) Q4 Earnings
Analysts on Wall Street project that Cenovus Energy (CVE - Free Report) will announce quarterly earnings of $0.18 per share in its forthcoming report, representing a decline of 37.9% year over year. Revenues are projected to reach $9.99 billion, increasing 3.6% from the same quarter last year.
Over the last 30 days, there has been an upward revision of 15.1% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of this timeframe.
Prior to a company's earnings release, it is of utmost importance to factor in any revisions made to the earnings projections. These revisions serve as a critical gauge for predicting potential investor behaviors with respect to the stock. Empirical studies consistently reveal a strong link between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Cenovus metrics that are commonly tracked and projected by analysts on Wall Street.
The average prediction of analysts places 'Total Upstream Production' at 811.03 millions of barrels of oil equivalent per day. Compared to the present estimate, the company reported 808.6 millions of barrels of oil equivalent per day in the same quarter last year.
According to the collective judgment of analysts, 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Christina Lake' should come in at 251.37 millions of barrels of oil per day. Compared to the present estimate, the company reported 237.4 millions of barrels of oil per day in the same quarter last year.
The collective assessment of analysts points to an estimated 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Foster Creek' of 191.78 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 186.3 millions of barrels of oil per day.
Analysts expect 'Upstream - Total Conventional Natural Gas Production' to come in at 846.64 millions of cubic feet per day. The estimate is in contrast to the year-ago figure of 876.3 millions of cubic feet per day.
Analysts' assessment points toward 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Sunrise' reaching 53.16 millions of barrels of oil per day. Compared to the current estimate, the company reported 48.9 millions of barrels of oil per day in the same quarter of the previous year.
The consensus among analysts is that 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Conventional Heavy Oil' will reach 16.15 millions of barrels of oil per day. Compared to the present estimate, the company reported 16.7 millions of barrels of oil per day in the same quarter last year.
It is projected by analysts that the 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production' will reach 620.79 millions of barrels of oil per day. Compared to the present estimate, the company reported 593.4 millions of barrels of oil per day in the same quarter last year.
Based on the collective assessment of analysts, 'Downstream - Total Canadian Refining - Heavy Crude Oil Unit Throughput' should arrive at 100.98 millions of barrels of oil per day. The estimate compares to the year-ago value of 110.5 millions of barrels of oil per day.
The combined assessment of analysts suggests that 'Upstream - Total Conventional Natural Gas Production - Conventional' will likely reach 567.33 millions of cubic feet per day. The estimate is in contrast to the year-ago figure of 832.6 millions of cubic feet per day.
Analysts predict that the 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Therma' will reach 108.54 millions of barrels of oil per day. The estimate is in contrast to the year-ago figure of 104.1 millions of barrels of oil per day.
View all Key Company Metrics for Cenovus here>>>
Over the past month, Cenovus shares have recorded returns of +1.7% versus the Zacks S&P 500 composite's +4.7% change. Based on its Zacks Rank #3 (Hold), CVE will likely exhibit a performance that aligns with the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>