Coterra Energy Inc (CTRA)
Coterra Energy Inc., an independent oil and gas company, explores, exploits, develops, produces and markets oil and gas properties in the United States. The company is headquartered in Houston, Texas.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is increasing.
- The growth rate of the primary trend is 1.77% per annum.
- CTRA price at the close of July 26, 2024 was $25.78 and was inside the primary price channel.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 11.13% per annum.
- CTRA price at the close of July 26, 2024 was inside the secondary price channel.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of CTRA price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: March 24, 2022
End date: July 26, 2024
a = 3.1782
b = 0.0000
s = 0.0725
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0000) – 1
= 1.77%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0725) – 1
= 33.66%
March 24, 2022 calculations
Top border of price channel:
Exp(Y670)
= Exp(a + b × X670 + 2 × s)
= Exp(a + b × 969 + 2 × s)
= Exp(3.1782 + 0.0000 × 969 + 2 × 0.0725)
= Exp(3.3699)
= $29.08
Bottom border of price channel:
Exp(Y670)
= Exp(a + b × X670 – 2 × s)
= Exp(a + b × 969 – 2 × s)
= Exp(3.1782 + 0.0000 × 969 – 2 × 0.0725)
= Exp(3.0797)
= $21.75
July 26, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(3.1782 + 0.0000 × 1,824 + 2 × 0.0725)
= Exp(3.4110)
= $30.30
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(3.1782 + 0.0000 × 1,824 – 2 × 0.0725)
= Exp(3.1209)
= $22.67
Description
- The primary trend is increasing.
- The growth rate of the primary trend is 1.77% per annum.
- CTRA price at the close of July 26, 2024 was $25.78 and was inside the primary price channel.
Secondary Trend
Start date: December 6, 2022
End date: July 26, 2024
a = 2.7936
b = 0.0003
s = 0.0480
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0003) – 1
= 11.13%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0480) – 1
= 21.15%
December 6, 2022 calculations
Top border of price channel:
Exp(Y847)
= Exp(a + b × X847 + 2 × s)
= Exp(a + b × 1,226 + 2 × s)
= Exp(2.7936 + 0.0003 × 1,226 + 2 × 0.0480)
= Exp(3.2441)
= $25.64
Bottom border of price channel:
Exp(Y847)
= Exp(a + b × X847 – 2 × s)
= Exp(a + b × 1,226 – 2 × s)
= Exp(2.7936 + 0.0003 × 1,226 – 2 × 0.0480)
= Exp(3.0522)
= $21.16
July 26, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(2.7936 + 0.0003 × 1,824 + 2 × 0.0480)
= Exp(3.4170)
= $30.48
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(2.7936 + 0.0003 × 1,824 – 2 × 0.0480)
= Exp(3.2252)
= $25.16
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 11.13% per annum.
- CTRA price at the close of July 26, 2024 was inside the secondary price channel.