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Coterra Energy Inc Ordinary Shares CTRA Stock Quote

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Morningstar‘s Stock Analysis CTRA

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Coterra Divides Its Attention Between the Permian Basin and the Marcellus Shale

Business Strategy and Outlook

| Dave Meats, CFA |

Coterra Energy was formed after the 2021 merger of equals between Cabot Oil & Gas and Cimarex Energy. The combined business produces oil and natural gas in three U.S. regions. Natural gas is the primary target in the Marcellus Shale (Pennsylvania), where Cabot was focused. But the firm's legacy Cimarex assets, in the Permian Basin (Texas and New Mexico), and Anadarko Basin (Oklahoma) are more oil-weighted. Management believes the combined business will be stronger because of geographic diversificaton and overhead synergies.

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Key Statistics CTRA

Company Profile CTRA

Business Description

Coterra is an independent exploration and production company with operations in Appalachia and the Permian Basin. It was formed after the 2021 merger with Cabot and Cimarex. At year-end 2021, Coterra's proved reserves were 2.9 billion barrels of oil equivalent, with net production that year of approximately 431 million barrels of oil equivalent per day (of which 70% was natural gas).

Contact
840 Gessner Road, Suite 1400, Three Memorial City Plaza
Houston, TX, 77024
T +1 281 589-4600
Sector Energy
Industry Oil & Gas E&P
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 936

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