Coterra Energy (CTRA) Update - Sept 20

Coterra Energy (CTRA) Update - Sept 20

Postby dan_s » Tue Sep 20, 2022 6:53 pm

CTRA announced that it is redeeming $750M of its outstanding bonds over the next several
weeks, which will save the company $32.8M of interest expense annually.

CTRA closed today at $29.82.

My current valuation is $45.00

Coterra is a "gasser" in our High Yield Income Portfolio. CTRA's production is currently ~630,000 Boepd (mix is ~74% natural gas, 12% NGLs and 14% crude oil).

TipRanks 9-16-2022: "J.P. Morgan analyst Arun Jayaram maintained a Hold rating on Coterra Energy (CTRA) and set a price target of $36.00. On 8/29/2022 Truist Financial rated CTRA a BUY with a price target of $41.00."
Dan Steffens
Energy Prospectus Group
dan_s
 
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