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In the latest trading session, Coterra Energy (CTRA) closed at $26.60, marking a -0.3% move from the previous day. The stock fell short of the S&P 500, which registered a loss of 0.29% for the day. Elsewhere, the Dow lost 0.35%, while the tech-heavy Nasdaq lost 0.3%.

The independent oil and gas company's shares have seen an increase of 11.59% over the last month, surpassing the Oils-Energy sector's gain of 6.58% and the S&P 500's gain of 4.42%.

Market participants will be closely following the financial results of Coterra Energy in its upcoming release. In that report, analysts expect Coterra Energy to post earnings of $0.55 per share. This would mark a year-over-year decline of 36.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.43 billion, down 19.47% from the year-ago period.

For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.26 per share and a revenue of $5.87 billion, signifying shifts of 0% and -0.67%, respectively, from the last year.

It's also important for investors to be aware of any recent modifications to analyst estimates for Coterra Energy. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 1.67% lower. Coterra Energy is holding a Zacks Rank of #3 (Hold) right now.

Digging into valuation, Coterra Energy currently has a Forward P/E ratio of 11.81. This represents a premium compared to its industry's average Forward P/E of 10.49.

Meanwhile, CTRA's PEG ratio is currently 0.21. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Oil and Gas - Exploration and Production - United States industry had an average PEG ratio of 0.69.

The Oil and Gas - Exploration and Production - United States industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 216, this industry ranks in the bottom 15% of all industries, numbering over 250.

The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.