Coterra Energy Inc. ($CTRA) Stock Forecast: Down 5.2% Today

What is Coterra Energy Inc.?

Coterra Energy Inc. (NYSE: CTRA) operates in the energy production sector, with a particular focus on the Permian oil drilling region. Today, the company's stock saw a substantial decline in the market.

Why is Coterra Energy Inc. going down?

CTRA stock is down 5.2% on Aug 2, 2024 19:59

• The decrease in CTRA's stock price today could be linked to lower commodity prices, impacted by economic slowdown.
• The increase in Permian oil drilling resulting in an excess of associated gas and subsequent price reduction may have adversely affected CTRA's financial performance in Q2.
• Although Coterra demonstrates robust energy production and shareholder returns, the market's general perception of commodity prices and economic deceleration likely influenced the downward movement in CTRA's stock today.

CTRA Price Chart

CTRA Technical Analysis

CTRA News

Coterra''s strong energy production allowed for big cash returns to shareholders

We''re cutting our price target in acknowledgment that commodity prices have come down as the economy is slowing.

https://www.cnbc.com/2024/08/02/coterra-strong-energy-production-allowed-for-big-cash-returns-to-shareholders.html

Coterra Energy Reports Second-Quarter 2024 Results, Announces Quarterly Dividend, and Provides Third-Quarter 2024 Guidance and Full-Year 2024 Updates

Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported second-quarter 2024 financial and operating results and declared a quarterly dividend of $0.21 per share. Additionally, the Company provided third-quarter production and capital guidance and updated full-year 2024 guidance. Key Takeaways & Updates For the second quarter of 2024, total barrels of oil equivalent Jetzt den vollständigen Artikel lesen

https://www.wallstreet-online.de/nachricht/18337147-coterra-energy-reports-second-quarter-2024-results-announces-quarterly-dividend-and-provides-third-quarter-2024-guidance-and-full-year-2024-updates

Factors to Note Ahead Of Coterra's ( CTRA ) Q2 Earnings Release

Coterra Energy's (CTRA) Q2 performance might have been hurt by the surge in Permian oil drilling, which has created an abundance of affiliated gas, pushing prices down.

https://www.zacks.com/stock/news/2312063/factors-to-note-ahead-of-coterras-ctra-q2-earnings-release

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Coterra Energy Inc. Price History

09.07.2023 - CTRA Stock was up 5.3%

• Coterra Energy reported better than expected Q2 adjusted earnings, despite a sharp decline in natural gas prices compared to the previous year.
• The slump in gas prices had initially caused concerns about the company's profitability, but Coterra Energy managed to surpass expectations.
• The overall energy trade experienced a rough day in the markets, particularly due to worries about China's economic recovery. However, Coterra Energy stood out as a strong performer amidst the challenging market conditions.
• The positive earnings report from Coterra Energy likely contributed to the bullish movement, as investors were reassured about the company's ability to navigate the volatility in gas prices.

08.07.2023 - CTRA Stock was down 5.2%

• Coterra Energy's Q2 profit fell sharply alongside natural gas prices, leading to a bearish market movement.
• The company's quarterly profit slumped as gas prices tumbled, impacting its financial performance.
• Despite beating earnings expectations with Non-GAAP EPS of $0.39, Coterra Energy's revenue of $1.19B missed estimates by $90M.
• The decline in gas prices and the missed revenue expectations likely contributed to the bearish market movement of Coterra Energy's stock.

21.01.2024 - CTRA Stock was up 5.2%

• Significant investments were made in CTRA by Bridgewater Associates, under the leadership of Ray Dalio, during the fourth quarter of 2023, signaling confidence in the company.
• The rising short percent of float for CTRA indicates a growing interest from investors seeking to benefit from potential price fluctuations.
• While analysts' recommendations and technical indicators for CTRA vary, with some displaying bearish signs, overall market sentiment appears to be shifting positively, potentially influenced by Bridgewater's strategic investments and market dynamics.

02.07.2024 - CTRA Stock was down 5.2%

• The decrease in CTRA's stock price today could be linked to lower commodity prices, impacted by economic slowdown.
• The increase in Permian oil drilling resulting in an excess of associated gas and subsequent price reduction may have adversely affected CTRA's financial performance in Q2.
• Although Coterra demonstrates robust energy production and shareholder returns, the market's general perception of commodity prices and economic deceleration likely influenced the downward movement in CTRA's stock today.