Insights Into Cenovus (CVE) Q1: Wall Street Projections for Key Metrics

Core Viewpoint - Cenovus Energy (CVE) is expected to report quarterly earnings of $0.29 per share, reflecting a 37% decline year-over-year, with revenues projected at $9.55 billion, a decrease of 3.9% compared to the previous year [1]. Earnings Projections - The consensus EPS estimate has been revised downward by 1.6% in the last 30 days, indicating a reassessment by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, as empirical studies show a strong correlation between earnings estimate trends and short-term stock price movements [3]. Key Metrics Estimates - Analysts estimate 'Total Upstream Production' to reach 819.24 million barrels of oil equivalent per day, up from 800.9 million barrels in the same quarter last year [5]. - 'Upstream - Total Conventional Natural Gas Production' is expected to be 867.71 million cubic feet per day, compared to 855.8 million cubic feet in the same quarter last year [6]. - 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Foster Creek' is projected at 200.50 million barrels per day, an increase from 196 million barrels in the same quarter last year [7]. - 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Christina Lake' is estimated at 238.10 million barrels per day, slightly up from 236.5 million barrels in the same quarter last year [8]. - The estimate for 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Sunrise' stands at 51.80 million barrels per day, compared to 48.8 million barrels in the same quarter last year [9]. - 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Therma' is expected to reach 109.38 million barrels per day, down from 114.1 million barrels in the same quarter last year [10]. - 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production - Lloydminster Conventional Heavy Oil' is projected at 18.90 million barrels per day, up from 17.9 million barrels in the same quarter last year [11]. - The total estimate for 'Upstream - Crude Oil and Natural Gas Liquids - Total Oil Sands Production' is 618.68 million barrels per day, compared to 613.3 million barrels in the same quarter last year [12]. - 'Downstream - Total Canadian Refining - Heavy Crude Oil Unit Throughput' is expected to be 103.14 million barrels per day, down from 104.1 million barrels in the same quarter last year [13]. - 'Downstream - Total U.S. Refining - Crude Oil Unit Throughput' is projected at 554.13 million barrels per day, compared to 551.1 million barrels in the same quarter last year [13]. - 'Total upstream production - Total Conventional segment production' is estimated at 126.33 million barrels of oil equivalent per day, compared to 27.3 million barrels in the same quarter last year [14]. - 'Total upstream production - Total Offshore segment production' is expected to be 67.58 million barrels of oil equivalent per day, up from 64.9 million barrels in the same quarter last year [15]. Stock Performance - Shares of Cenovus have returned +4.2% over the past month, while the Zacks S&P 500 composite has changed by +11.5%, indicating that CVE is expected to mirror overall market performance in the near future [15].