Coterra Energy (CTRA - Free Report) reported $1.19 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 53.9%. EPS of $0.39 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of -7.41% over the Zacks Consensus Estimate of $1.28 billion. With the consensus EPS estimate being $0.36, the EPS surprise was +8.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cabot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total- Daily equivalent production: 664.9 MBoe/d versus the eight-analyst average estimate of 636.44 MBoe/d.
- Average Daily Production Volumes - Oil: 95.8 MBbl compared to the 91.42 MBbl average estimate based on six analysts.
- Average Daily Production Volumes - Natural gas: 2904 MMcf versus 2772.65 MMcf estimated by six analysts on average.
- Natural gas price realizations (ASP) including the effect of hedges: $1.95 per thousand cubic feet compared to the $1.88 per thousand cubic feet average estimate based on five analysts.
- Crude oil sales price per Bbl -Total: $71.88 versus $74.15 estimated by four analysts on average.
- Liquid natural gas sales price per Bbl -Total: $16.67 versus $20.48 estimated by four analysts on average.
- Average Sales Price - Crude oil and condensate, including hedges: 72.17 $/Bbl compared to the 74.23 $/Bbl average estimate based on four analysts.
- Natural gas sales price per mcf -Total (excluding hedges): $1.65 versus the four-analyst average estimate of $1.78.
- Natural gas production -Total: 264.3 Bcf versus the two-analyst average estimate of 253.45 Bcf.
- Crude oil production - Total: 8.7 KBbls versus 8.33 KBbls estimated by two analysts on average.
- Operating revenues- Natural gas: $436 million versus $498.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -70.3% change.
- Operating revenues- Crude oil and condensate: $626 million versus $632.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -28.5% change.
View all Key Company Metrics for Cabot here>>>Shares of Cabot have returned +9.2% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
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Coterra Energy (CTRA - Free Report) reported $1.19 billion in revenue for the quarter ended June 2023, representing a year-over-year decline of 53.9%. EPS of $0.39 for the same period compares to $1.35 a year ago.
The reported revenue represents a surprise of -7.41% over the Zacks Consensus Estimate of $1.28 billion. With the consensus EPS estimate being $0.36, the EPS surprise was +8.33%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cabot performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Total- Daily equivalent production: 664.9 MBoe/d versus the eight-analyst average estimate of 636.44 MBoe/d.
- Average Daily Production Volumes - Oil: 95.8 MBbl compared to the 91.42 MBbl average estimate based on six analysts.
- Average Daily Production Volumes - Natural gas: 2904 MMcf versus 2772.65 MMcf estimated by six analysts on average.
- Natural gas price realizations (ASP) including the effect of hedges: $1.95 per thousand cubic feet compared to the $1.88 per thousand cubic feet average estimate based on five analysts.
- Crude oil sales price per Bbl -Total: $71.88 versus $74.15 estimated by four analysts on average.
- Liquid natural gas sales price per Bbl -Total: $16.67 versus $20.48 estimated by four analysts on average.
- Average Sales Price - Crude oil and condensate, including hedges: 72.17 $/Bbl compared to the 74.23 $/Bbl average estimate based on four analysts.
- Natural gas sales price per mcf -Total (excluding hedges): $1.65 versus the four-analyst average estimate of $1.78.
- Natural gas production -Total: 264.3 Bcf versus the two-analyst average estimate of 253.45 Bcf.
- Crude oil production - Total: 8.7 KBbls versus 8.33 KBbls estimated by two analysts on average.
- Operating revenues- Natural gas: $436 million versus $498.24 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -70.3% change.
- Operating revenues- Crude oil and condensate: $626 million versus $632.82 million estimated by two analysts on average. Compared to the year-ago quarter, this number represents a -28.5% change.
View all Key Company Metrics for Cabot here>>>Shares of Cabot have returned +9.2% over the past month versus the Zacks S&P 500 composite's +0.6% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
Research Chief Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.
Free: See Our Top Stock And 4 Runners Up
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