Coterra Energy Inc. (CTRA) Monthly Report – September 22, 2024
Company Overview
Coterra Energy Inc. (CTRA), based in Houston, Texas, operates within the Energy sector, specializing in Oil & Gas Exploration and Production (E&P). Established in 1989, Coterra is dedicated to the development, exploration, and production of oil, natural gas, and natural gas liquids across key regions in the United States, including the Marcellus Shale, Permian Basin, and Anadarko Basin. As a prominent player in the market, Coterra manages a substantial acreage portfolio, providing resources for various industrial customers, pipeline companies, and power generation facilities. The company’s financial foundation is solid, with a reported total revenue of approximately $5.57 billion, and analysts maintain a bullish outlook, setting a target high price of $36.00 per share, which underscores significant growth potential within the E&P sector.
Stock Performance and Analyst Insights
Currently trading at $23.66, Coterra shares are positioned below the target mean price of $31.78, reflecting a significant upside potential. The stock has seen a fifty-two week range with a high of $29.89 and a low of $22.30, indicating resilience above its lows while suggesting opportunities for growth as it navigates back toward previous peaks. The market sentiment is predominantly positive, evidenced by only 2.12% of the float shares, totaling 13,602,233, currently engaged in short selling. This low short interest further supports the buy recommendation from analysts, reflected in a mean score of 2.0 from 25 contributing analysts.
Financial Highlights and Future Projections
Coterra’s robust financial status, highlighted by its total revenue, positions the company favorably within the E&P industry. While data on EBITDA is currently unavailable, the strong revenue performance indicates operational capacity and potential profitability. Analysts project a target low price of $26.00, reinforcing expectations of upward movement from current levels. With its solid revenue base and growth outlook, Coterra remains an attractive option for investors looking to capitalize on emerging opportunities in the energy market.
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| Metric | Value |
|---|---|
| Market Cap | $17.5b |
| Total Debt | $3.0b |
| Total Cash | $1.3b |
| Shares Outstanding | 739.3m |
| Float Shares | 727.7m |
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