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Coterra Energy (CTRA) Stock Moves -1.24%: What You Should Know
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In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $24.61, marking a -1.24% move from the previous day. This change was narrower than the S&P 500's 1.38% loss on the day. Meanwhile, the Dow lost 1.26%, and the Nasdaq, a tech-heavy index, lost 5.67%.
Heading into today, shares of the independent oil and gas company had gained 0.97% over the past month, outpacing the Oils-Energy sector's gain of 0.26% and lagging the S&P 500's gain of 3.87% in that time.
Investors will be hoping for strength from Coterra Energy as it approaches its next earnings release, which is expected to be February 22, 2023. On that day, Coterra Energy is projected to report earnings of $1.15 per share, which would represent year-over-year growth of 38.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 3.24% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Coterra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 26.88% lower. Coterra Energy currently has a Zacks Rank of #3 (Hold).
Investors should also note Coterra Energy's current valuation metrics, including its Forward P/E ratio of 8.69. Its industry sports an average Forward P/E of 5.87, so we one might conclude that Coterra Energy is trading at a premium comparatively.
It is also worth noting that CTRA currently has a PEG ratio of 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.22 based on yesterday's closing prices.
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 246, putting it in the bottom 3% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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) Stock Moves -1.24%: What You Should Know
In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $24.61, marking a -1.24% move from the previous day. This change was narrower than the S&P 500's 1.38% loss on the day. Meanwhile, the Dow lost 1.26%, and the Nasdaq, a tech-heavy index, lost 5.67%.
Heading into today, shares of the independent oil and gas company had gained 0.97% over the past month, outpacing the Oils-Energy sector's gain of 0.26% and lagging the S&P 500's gain of 3.87% in that time.
Investors will be hoping for strength from Coterra Energy as it approaches its next earnings release, which is expected to be February 22, 2023. On that day, Coterra Energy is projected to report earnings of $1.15 per share, which would represent year-over-year growth of 38.55%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.15 billion, down 3.24% from the year-ago period.
Investors should also note any recent changes to analyst estimates for Coterra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, the Zacks Consensus EPS estimate has moved 26.88% lower. Coterra Energy currently has a Zacks Rank of #3 (Hold).
Investors should also note Coterra Energy's current valuation metrics, including its Forward P/E ratio of 8.69. Its industry sports an average Forward P/E of 5.87, so we one might conclude that Coterra Energy is trading at a premium comparatively.
It is also worth noting that CTRA currently has a PEG ratio of 0.16. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Oil and Gas - Exploration and Production - United States stocks are, on average, holding a PEG ratio of 0.22 based on yesterday's closing prices.
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 246, putting it in the bottom 3% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.