Coterra Energy Inc. (NYSE:CTRA) ranks among the best growth stocks to buy for the next 10 years. In response to Coterra Energy Inc. (NYSE:CTRA)’s 8-K report on realized prices and cash hedge gains, UBS reaffirmed its Buy rating and $30 price target on the company’s shares on July 22.
During the quarter, Coterra Energy Inc. reported a post-hedge realized oil price of $64.01 per barrel, which was higher than UBS’s forecast of $62.25 per barrel. The post-hedge realized gas price for the company came in at $2.27 per mmbtu, which was less than the $2.41 per mmbtu that UBS had predicted.
With gains of $0.07 per mmbtu on gas hedges and $1.21 per barrel on oil contracts, the energy giant also collected $35 million in net hedge cash settlements.
Coterra Energy Inc. is a natural gas company based in Houston, Texas. Founded in 1990 as the Cabot Oil & Gas Company, a subsidiary of then-parent Cabot Corporation, Coterra specializes in the development, exploration, and production of oil, natural gas, and natural gas liquids.
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