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Coterra Energy (CTRA) Rises As Market Takes a Dip: Key Facts

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The most recent trading session ended with Coterra Energy (CTRA - Free Report) standing at $29.40, reflecting a +0.65% shift from the previouse trading day's closing. The stock outpaced the S&P 500's daily loss of 0.01%. Meanwhile, the Dow gained 0.04%, and the Nasdaq, a tech-heavy index, lost 0.25%.

Coming into today, shares of the independent oil and gas company had gained 4.7% in the past month. In that same time, the Oils-Energy sector lost 0.43%, while the S&P 500 lost 1.6%.

Analysts and investors alike will be keeping a close eye on the performance of Coterra Energy in its upcoming earnings disclosure. The company's earnings report is set to go public on November 6, 2023. The company's earnings per share (EPS) are projected to be $0.45, reflecting a 68.31% decrease from the same quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $1.39 billion, down 44.97% from the year-ago period.

For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $2.29 per share and a revenue of $5.9 billion, representing changes of -53.64% and -34.77%, respectively, from the prior year.

Investors should also take note of any recent adjustments to analyst estimates for Coterra Energy. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.85% upward. Coterra Energy presently features a Zacks Rank of #3 (Hold).

In terms of valuation, Coterra Energy is currently trading at a Forward P/E ratio of 12.78. This denotes a premium relative to the industry's average Forward P/E of 10.26.

It's also important to note that CTRA currently trades at a PEG ratio of 0.23. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The average PEG ratio for the Oil and Gas - Exploration and Production - United States industry stood at 0.44 at the close of the market yesterday.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 16, this industry ranks in the top 7% of all industries, numbering over 250.

The Zacks Industry Rank gauges the strength of our individual 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.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.


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