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Coterra Energy (CTRA) Gains But Lags Market: What You Should Know
Coterra Energy (CTRA - Free Report) closed the most recent trading day at $25.78, moving +0.62% from the previous trading session. This change lagged the S&P 500's 1.19% gain on the day. Elsewhere, the Dow gained 0.76%, while the tech-heavy Nasdaq added 0.29%.
Prior to today's trading, shares of the independent oil and gas company had gained 1.67% over the past month. This has lagged the Oils-Energy sector's gain of 5.68% and the S&P 500's gain of 4.06% 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. In that report, analysts expect Coterra Energy to post earnings of $1.25 per share. This would mark year-over-year growth of 50.6%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.26 billion, up 1.49% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Coterra Energy. These recent revisions tend to reflect the evolving nature of short-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 8.37% lower. Coterra Energy is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Coterra Energy is currently trading at a Forward P/E ratio of 7.24. This valuation marks a premium compared to its industry's average Forward P/E of 5.58.
We can also see that CTRA currently has a PEG ratio of 0.13. 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. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.2 based on yesterday's closing prices.
The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 230, which puts it in the bottom 9% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.