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Coterra Energy (CTRA) Gains But Lags Market: What You Should Know
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Coterra Energy (CTRA - Free Report) closed the most recent trading day at $29.12, moving +0.07% from the previous trading session. This move lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the independent oil and gas company had gained 2.72% in the past month. In that same time, the Oils-Energy sector gained 4.6%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Coterra Energy as it approaches its next earnings release. The company is expected to report EPS of $1.28, up 146.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.31 billion, up 259.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.98 per share and revenue of $9.06 billion, which would represent changes of +121.33% and +148.16%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 6.43% higher within the past month. Coterra Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Coterra Energy has a Forward P/E ratio of 5.84 right now. For comparison, its industry has an average Forward P/E of 4.98, which means Coterra Energy is trading at a premium to the group.
It is also worth noting that CTRA currently has a PEG ratio of 0.11. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.23 at yesterday's closing price.
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 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.
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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 $29.12, moving +0.07% from the previous trading session. This move lagged the S&P 500's daily gain of 0.66%. Elsewhere, the Dow gained 0.61%, while the tech-heavy Nasdaq added 0.08%.
Coming into today, shares of the independent oil and gas company had gained 2.72% in the past month. In that same time, the Oils-Energy sector gained 4.6%, while the S&P 500 lost 3.79%.
Investors will be hoping for strength from Coterra Energy as it approaches its next earnings release. The company is expected to report EPS of $1.28, up 146.15% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $2.31 billion, up 259.97% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.98 per share and revenue of $9.06 billion, which would represent changes of +121.33% and +148.16%, respectively, from the prior year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. The Zacks Consensus EPS estimate has moved 6.43% higher within the past month. Coterra Energy is currently a Zacks Rank #3 (Hold).
Valuation is also important, so investors should note that Coterra Energy has a Forward P/E ratio of 5.84 right now. For comparison, its industry has an average Forward P/E of 4.98, which means Coterra Energy is trading at a premium to the group.
It is also worth noting that CTRA currently has a PEG ratio of 0.11. 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. The Oil and Gas - Exploration and Production - United States was holding an average PEG ratio of 0.23 at yesterday's closing price.
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 66, which puts it in the top 27% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.