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Can Canadian Natural Resources (CNQ) Q3 Earnings Surprise?
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Independent oil and gas explorer Canadian Natural Resources Ltd. (CNQ - Free Report) is set to release its third-quarter 2016 results before the opening bell on Thursday, Nov 3.
In the preceding three-month period, the Calgary, Alberta-based upstream player delivered a massive negative earnings surprise of 1,300.00% on lower production amid a protracted commodity price decline.
As far as the earnings surprise history is concerned, the company has a mixed record: its missed estimates in 2 of the last four quarters resulting in an average negative surprise of 313.92%.
Like any other energy player − primarily involved in exploration, development and production of crude oil − the fate of Canadian Natural Resources’ business is directly correlated with crude prices. Continued weakness in commodity prices has significantly affected the company’s revenues, earnings and cash flows.
However, efficiencies on the production front might be able to mitigate some of the damage. In particular, the company boasts of a strong and diverse production base with long-life and low decline rate assets.
Moreover, Canadian Natural Resources has been able to reduce unit costs that will provide some buffer amid the tumbling commodity prices.
Other Stocks to Report
Apart from Canadian Natural Resources, here are some other firms from the energy space that are expected to come out with third quarter earnings in the next few days:
Comstock Resources Inc. (CRK - Free Report) , with a Zacks Rank #2 (Buy), is likely to release earnings on Nov 8.
CONE Midstream Partners L.P. , with a Zacks Rank #2, is likely to release earnings on Nov 4.
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Can Canadian Natural Resources (CNQ) Q3 Earnings Surprise?
Independent oil and gas explorer Canadian Natural Resources Ltd. (CNQ - Free Report) is set to release its third-quarter 2016 results before the opening bell on Thursday, Nov 3.
In the preceding three-month period, the Calgary, Alberta-based upstream player delivered a massive negative earnings surprise of 1,300.00% on lower production amid a protracted commodity price decline.
As far as the earnings surprise history is concerned, the company has a mixed record: its missed estimates in 2 of the last four quarters resulting in an average negative surprise of 313.92%.
CDN NTRL RSRCS Price and EPS Surprise
CDN NTRL RSRCS Price and EPS Surprise | CDN NTRL RSRCS Quote
Factors to Consider This Quarter
Like any other energy player − primarily involved in exploration, development and production of crude oil − the fate of Canadian Natural Resources’ business is directly correlated with crude prices. Continued weakness in commodity prices has significantly affected the company’s revenues, earnings and cash flows.
However, efficiencies on the production front might be able to mitigate some of the damage. In particular, the company boasts of a strong and diverse production base with long-life and low decline rate assets.
Moreover, Canadian Natural Resources has been able to reduce unit costs that will provide some buffer amid the tumbling commodity prices.
Other Stocks to Report
Apart from Canadian Natural Resources, here are some other firms from the energy space that are expected to come out with third quarter earnings in the next few days:
Archrock Partners L.P. , having a Zacks Rank #1 Strong Buy), is expected to release earnings results on Nov 1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Comstock Resources Inc. (CRK - Free Report) , with a Zacks Rank #2 (Buy), is likely to release earnings on Nov 8.
CONE Midstream Partners L.P. , with a Zacks Rank #2, is likely to release earnings on Nov 4.
Confidential from Zacks
Beyond this Analyst Blog, would you like to see Zacks' best recommendations that are not available to the public? Our Executive VP, Steve Reitmeister, knows when key trades are about to be triggered and which of our experts has the hottest hand. Click to see them now>>