Jim Cramer - Mad Money
Coterra Energy
CTRA-N
COMMENT
Nov 04, 2024
They reported a good quarter last Friday, but management made confusing comments about M&A. Today, it rebounded with the price of crude after OPEC+ said it would delay its output by a month.
Has a lot of natural gas operations. He likes nat gas. Crude prices are the same as a year ago, but nat gas is up 50% and looks strong for 2023. He keeps adding to his position.
The price of oil has been wavering, but natural gas has been obliterated. CTRA is now Coterra Energy, and it receives 59% of sales from nat gas. One of the lowest-cost producers in the world. Pays a 3.1% dividend yield and buys back a lot of shares
They reported a good quarter last Friday, but management made confusing comments about M&A. Today, it rebounded with the price of crude after OPEC+ said it would delay its output by a month.