Independent oil and gas company Coterra Energy Inc. (CTRA) in Houston, Tex., develops, explores for, and produces oil, natural gas, and natural gas liquids in the United States. CTRA’s shares have gained 93.3% in price over the past year and 103.8% over the past nine months to close yesterday’s trading session at $30.93. The stock has gained 62.8% year-to-date, driven by rallying oil and gas prices amid a tight supply outlook after sanctions were imposed on Russia in response to its invasion of Ukraine.
Furthermore, with the U.S. and European Union striking a deal to ensure a steady stream of U.S. liquefied natural gas is sent to Europe to end the bloc’s dependence on Russian energy, U.S. gas producers should benefit. Indeed, the news lifted CTRA's stock.
