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Coterra Energy (CTRA) Outpaces Stock Market Gains: What You Should Know
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In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $25.03, marking a +1.5% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.46%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 6.63%.
Heading into today, shares of the independent oil and gas company had gained 0.37% over the past month, lagging the Oils-Energy sector's gain of 1.9% and the S&P 500's gain of 4.75% in that time.
Wall Street will be looking for positivity from Coterra Energy as it approaches its next earnings report date. This is expected to be February 22, 2023. On that day, Coterra Energy is projected to report earnings of $1.16 per share, which would represent year-over-year growth of 39.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, down 2.86% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Coterra Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 25.47% lower within the past month. Coterra Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Coterra Energy's current valuation metrics, including its Forward P/E ratio of 7.67. This represents a premium compared to its industry's average Forward P/E of 6.05.
It is also worth noting that CTRA currently has a PEG ratio of 0.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CTRA in the coming trading sessions, be sure to utilize Zacks.com.
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Coterra Energy (CTRA) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $25.03, marking a +1.5% move from the previous day. The stock outpaced the S&P 500's daily gain of 1.46%. At the same time, the Dow added 1.09%, and the tech-heavy Nasdaq gained 6.63%.
Heading into today, shares of the independent oil and gas company had gained 0.37% over the past month, lagging the Oils-Energy sector's gain of 1.9% and the S&P 500's gain of 4.75% in that time.
Wall Street will be looking for positivity from Coterra Energy as it approaches its next earnings report date. This is expected to be February 22, 2023. On that day, Coterra Energy is projected to report earnings of $1.16 per share, which would represent year-over-year growth of 39.76%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.16 billion, down 2.86% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Coterra Energy. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 25.47% lower within the past month. Coterra Energy is currently a Zacks Rank #3 (Hold).
Investors should also note Coterra Energy's current valuation metrics, including its Forward P/E ratio of 7.67. This represents a premium compared to its industry's average Forward P/E of 6.05.
It is also worth noting that CTRA currently has a PEG ratio of 0.14. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Oil and Gas - Exploration and Production - United States industry currently had an average PEG ratio of 0.23 as of yesterday's close.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 244, putting it in the bottom 4% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow CTRA in the coming trading sessions, be sure to utilize Zacks.com.