Wall Street analysts expect Coterra Energy (CTRA) to post quarterly earnings of $0.76 per share in its upcoming report, which indicates a year-over-year increase of 49%. Revenues are expected to be $1.92 billion, up 34.1% from the year-ago quarter.
The consensus EPS estimate for the quarter has been revised 8.2% lower over the last 30 days to the current level. This reflects how the analysts covering the stock have collectively reevaluated their initial estimates during this timeframe.
Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically rely on consensus earnings and revenue estimates to gauge how the business may have fared during the quarter, examining analysts' projections for some of the company's key metrics often helps gain a deeper insight.
With that in mind, let's delve into the average projections of some Cabot metrics that are commonly tracked and projected by analysts on Wall Street.
Analysts expect 'Operating revenues- Oil' to come in at $882.52 million. The estimate points to a change of +25.9% from the year-ago quarter.
Based on the collective assessment of analysts, 'Operating revenues- Natural gas' should arrive at $832.47 million. The estimate indicates a change of +54.7% from the prior-year quarter.
Analysts predict that the 'Operating revenues- NGL' will reach $223.80 million. The estimate points to a change of +29.4% from the year-ago quarter.
It is projected by analysts that the 'Operating revenues- Other' will reach $14.50 million. The estimate indicates a year-over-year change of -31%.
The combined assessment of analysts suggests that 'Production Volumes - Total Company - Daily equivalent production' will likely reach 738.67 millions of barrels of oil equivalent. Compared to the current estimate, the company reported 686.1 MBOE/d in the same quarter of the previous year.
Analysts forecast 'Production Volumes - Total Company - Natural gas' to reach 2,918.45 millions of cubic feet per day. The estimate compares to the year-ago value of 2,960.1 MMcf/d.
The collective assessment of analysts points to an estimated 'Production Volumes - Total Company - Oil' of 143.24 millions of barrels of oil per day. Compared to the current estimate, the company reported 102.5 MBbl/d in the same quarter of the previous year.
Analysts' assessment points toward 'Average sales price - Total Company - NGL (excluding hedges)' reaching $22.47 per barrel. The estimate compares to the year-ago value of 21.09 $/Bbl.
The average prediction of analysts places 'Average sales price (excluding hedges) - Total Company - Oil' at $69.93 per barrel. The estimate compares to the year-ago value of 75.16 $/Bbl.
View all Key Company Metrics for Cabot here>>>
Shares of Cabot have experienced a change of -12.3% in the past month compared to the -0.2% move of the Zacks S&P 500 composite. With a Zacks Rank #3 (Hold), CTRA is expected to mirror the overall market performance in the near future. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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Coterra Energy Inc. (CTRA): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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