We recently published a list of 10 Firms Stand Strong Amid Market Decline. In this article, we are going to take a look at where Coterra Energy (NYSE:CTRA) stands against other firms stand strong amid market decline.
The US stock market finished the day on a sour note anew amid the lack of fresh catalysts to spice up trading while investors repositioned their portfolios ahead of 2025.
On Monday, the Dow shed 0.97 percent or 418 points, while the S&P’s broad index decreased 0.95 percent or 56.48 points. Nasdaq Composite registered the biggest decline, down 1.19 percent or 235.24 points.
Despite losses, 10 companies managed to eke out gains, with those in the energy sector posting notable performance. Let’s explore why.
To come up with Monday’s top gainers, we considered only the stocks with at least $2 billion in market capitalization and $5 million in daily trading volume.
An oil rig pumping under the open sky of the Permian Basin.
Coterra Energy Inc. (NYSE:CTRA)
Coterra Energy (NYSE:CTRA), a company engaged in natural gas and hydrocarbon exploration, registered a 3.57-percent increase in share prices or 0.88 points to close at $25.52 each on Monday.
As 2024 comes to a close, analysts believe that trading in the company was buoyed by the spike in natural gas prices amid high demand for electricity as the US looks to welcome a cold 2025, with the peak season expected to occur in the second week of January.
In addition, Coterra Energy recently announced it has exceeded its 2024 plan, bolstering growth projections heading into 2025.
According to the company, total barrels of oil equivalent (BOE) production, natural gas production, and oil production all beat the high end of guidance, and capital expenditures came in below the low end of guidance.
Overall, CTRA ranks 6th on our list of firms stand strong amid market decline. While we acknowledge the potential of CTRA as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than CTRA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
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Disclosure: None. This article is originally published at Insider Monkey.