Coterra Energy's Q3 Earnings Down Y/Y, Sales Lag Estimates
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Coterra Energy's Q3 earnings have decreased year-over-year, and their sales have fallen short of estimates. The company has announced a capital expenditure budget for 2024 between $1.75-$1.85 billion and expects oil production of 107-108 MBopd in Q4.
November 06, 2024 | 1:00 pm
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Coterra Energy's Q3 earnings have decreased compared to the previous year, and sales have not met expectations. The company has set a capital expenditure budget for 2024 between $1.75-$1.85 billion and anticipates oil production of 107-108 MBopd in Q4.
The decline in earnings and sales missing estimates are negative indicators for Coterra Energy's stock in the short term. The capital expenditure budget and production estimates provide some forward-looking guidance, but the immediate impact is likely negative due to the earnings miss.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100