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Coterra Energy (CTRA) Stock Moves -0.54%: What You Should Know

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In the latest trading session, Coterra Energy (CTRA - Free Report) closed at $25.56, marking a -0.54% move from the previous day. This change was narrower than the S&P 500's daily loss of 0.6%. At the same time, the Dow lost 0.33%, and the tech-heavy Nasdaq lost 2.87%.

Heading into today, shares of the independent oil and gas company had gained 9.36% over the past month, lagging the Oils-Energy sector's gain of 11.36% and outpacing the S&P 500's gain of 6.22% 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 May 4, 2023. On that day, Coterra Energy is projected to report earnings of $0.70 per share, which would represent a year-over-year decline of 30.69%. Meanwhile, our latest consensus estimate is calling for revenue of $1.59 billion, down 5.32% from the prior-year quarter.

Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $2.55 per share and revenue of $6.1 billion. These totals would mark changes of -48.38% and -32.59%, respectively, from last year.

Investors might also notice recent changes to analyst estimates for Coterra Energy. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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. Over the past month, the Zacks Consensus EPS estimate has moved 6.29% lower. Coterra Energy is holding a Zacks Rank of #3 (Hold) right now.

Investors should also note Coterra Energy's current valuation metrics, including its Forward P/E ratio of 10.09. Its industry sports an average Forward P/E of 6.8, 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 0.18. 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. CTRA's industry had an average PEG ratio of 0.43 as of yesterday's close.

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 226, which puts it in the bottom 11% 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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