Coterra Energy (CTRA – Free Report) ended the recent trading session at $28.63, demonstrating a +0.39% swing from the preceding day’s closing price. The stock exceeded the S&P 500, which registered a loss of 1.97% for the day. Elsewhere, the Dow lost 1.69%, while the tech-heavy Nasdaq lost 2.7%.
The independent oil and gas company’s shares have seen an increase of 8.03% over the last month, surpassing the Oils-Energy sector’s gain of 3.54% and the S&P 500’s loss of 2.79%.
Market participants will be closely following the financial results of Coterra Energy in its upcoming release. The company’s earnings per share (EPS) are projected to be $0.73, reflecting a 43.14% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.93 billion, indicating a 34.75% increase compared to the same quarter of the previous year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.08 per share and a revenue of $8.08 billion, representing changes of +83.33% and +48.09%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Coterra Energy. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company’s business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.54% lower. As of now, Coterra Energy holds a Zacks Rank of #3 (Hold).
Investors should also note Coterra Energy’s current valuation metrics, including its Forward P/E ratio of 9.25. Its industry sports an average Forward P/E of 8.49, so one might conclude that Coterra Energy is trading at a premium comparatively.
Investors should also note that CTRA has a PEG ratio of 0.6 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company’s anticipated earnings growth rate. The Oil and Gas – Exploration and Production – United States industry currently had an average PEG ratio of 1.25 as of yesterday’s close.
The Oil and Gas – Exploration and Production – United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 146, this industry ranks in the bottom 42% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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