Coterra Energy Inc. (NYSE: CTRA) stock fell -2.67% on Thursday to $24.83 against a previous-day closing price of $25.51. With 6.18 million shares changed hands, the volume of the stock remained lighter than its average volume of 8.49 million shares. During the session, the Oil & Gas E&P company that operates in wider Energy sector, reached to the highest price of $25.03 whereas the lowest price it dropped to was $24.60. The 52-week range on CTRA shows that it touched its highest point at $34.73 and its lowest point at $22.25 during that stretch. It currently has a 1-year price target of $30.42. With its current market cap of 18.68 billion, CTRA has annualized dividend of $2.10 while the current yield stands at 8.46%. Beta for the stock currently stands at 0.25.
Top 5 EV Tech Stocks to Buy for 2023
According a new report published by BloombergNEF on investment in the energy transition, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now.
Click Here to Download the FREE Report.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of CTRA was down-trending over the past week, with a drop of -2.44%, but this was up by 0.57% over a month. Three-month performance dropped to -1.39% while six-month performance fell -8.35%. The stock lost -19.83% in the past year, while it has gained 2.58% so far this year. A look at the trailing 12-month EPS for CTRA yields 5.22 with Next year EPS estimates of 2.93. For the next quarter, that number is 0.46. This implies an EPS growth rate of 121.00% for this year and 18.24% for next year. EPS is expected to decline by -11.26% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 79.40%.
Float and Shares Shorts:
At present, 764.00 million CTRA shares are outstanding with a float of 749.43 million shares on hand for trading. On Apr 27, 2023, short shares totaled 38.63 million, which was 5.10% higher than short shares on Mar 30, 2023. In addition to Mr. Thomas E. Jorden as the firm’s CEO, Pres & Chairman, Mr. Scott C. Schroeder serves as its Exec. VP & CFO.
Through their ownership of 95.67% of CTRA’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 60.53% of CTRA, in contrast to 32.63% held by mutual funds. Shares owned by individuals account for 2.85%. As the largest shareholder in CTRA with 11.44% of the stake, The Vanguard Group, Inc. holds 87,906,614 shares worth 87,906,614. A second-largest stockholder of CTRA, Wellington Management Co. LLP, holds 70,553,560 shares, controlling over 9.18% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in CTRA, holding 52,488,239 shares or 6.83% stake. With a 3.03% stake in CTRA, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 23,268,997 shares are owned by the mutual fund manager. The SPDR Series – Energy Select Secto, which owns about 2.86% of CTRA stock, is the second-largest Mutual Fund holder. It holds 22,003,149 shares valued at 563.28 million. Vanguard Equity Income Fund holds 2.74% of the stake in CTRA, owning 21,071,539 shares worth 539.43 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Mar 30, 2023, CTRA reported revenue of $2.57B and operating income of $1.61B. The EBITDA in the recently reported quarter was $2.03B and diluted EPS was $1.52.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for CTRA since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With CTRA analysts setting a high price target of $39.00 and a low target of $25.00, the average target price over the next 12 months is $30.64. Based on these targets, CTRA could surge 57.07% to reach the target high and rise by 0.68% to reach the target low. Reaching the average price target will result in a growth of 23.4% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded CTRA stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 20,824 shares were sold. The number of buy transactions has increased to 21 while that of sell transactions has risen to 12 over the past year. The total number of shares bought during that period was 1,138,467 while 991,601 shares were sold.