Coterra Energy Inc. (NYSE:CTRA) is one of the stocks Jim Cramer put under the spotlight. During the episode, Cramer noted that it is the “only energy holding” in his Charitable Trust and remarked:
“Last night, we got results from the only energy holding in my Charitable Trust, which is called Coterra Energy. It’s an oil and gas exploration and production company. Frankly, it’s been a little frustrating to own, I mean, even though management executes well, the stock sports a 3.6% yield, it has a hard time getting traction, as do many of the oil and gas stocks. In the last 24 hours, the company reported a really fine set of numbers, 3-cent earnings, better than expected cash flow, really terrific cash flow, thanks primarily to strong production. Management also gave good production guidance for the current quarter, raised its full-year forecast. They also raised their capital expenditure forecast. Basically, they’re producing more oil, but they have to spend a little more on gas too. But after initially trading higher, then it turned down, and then it opened, then it went back up. But frankly, in the end, it’s an energy company, and right now, energy companies, they’re very tough to own.”
A technical stock market chart. Photo by Energepic from Pexels
Coterra (NYSE:CTRA) explores, develops, and produces oil, natural gas, and natural gas liquids, with major assets across key U.S. basins.
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Disclosure: None. This article is originally published at Insider Monkey.