Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Coterra Energy presented a strong performance in the third quarter of 2025, underpinned by higher-than-expected production across oil, natural gas, and BOE (barrel of oil equivalent).</li><li>The achievements in production efficiency were noted as capital remained on track, with an increase in both revenue and profitability anticipated for the upcoming year.</li><li>A positive result was reflected in their discretionary cash flow standing at $1.15 billion, and free cash flow amounted to $533 million after cash capital expenditures.</li></ul>

Coterra Energy presented a strong performance in the third quarter of 2025, underpinned by higher-than-expected production across oil, natural gas, and BOE (barrel of oil equivalent).The achievements in production efficiency were noted as capital remained on track, with an increase in both revenue and profitability anticipated for the upcoming year.A positive result was reflected in their discretionary cash flow standing at $1.15 billion, and free cash flow amounted to $533 million after cash capital expenditures.

Coterra Energy: Will These High-Impact Acquisitions Spark the Next Growth Wave?

<ul><li>Coterra Energy's recent earnings call provided a comprehensive overview of the company’s second-quarter 2025 performance, offering insights into both strong points and areas of concern for investors.</li><li>The company outperformed its guidance in natural gas production and surpassed its midpoint targets for oil volumes, leading to substantial revenues of approximately $1.7 billion, with a balanced contribution from both oil and natural gas, including natural gas liquids (NGLs).</li><li>This performance highlights the company's ability to generate high returns on capital with a reinvestment rate efficiently kept at 50% of cash flow, indicating strong asset quality.</li></ul>

Coterra Energy's recent earnings call provided a comprehensive overview of the company’s second-quarter 2025 performance, offering insights into both strong points and areas of concern for investors.The company outperformed its guidance in natural gas production and surpassed its midpoint targets for oil volumes, leading to substantial revenues of approximately $1.7 billion, with a balanced contribution from both oil and natural gas, including natural gas liquids (NGLs).This performance highlights the company's ability to generate high returns on capital with a reinvestment rate efficiently kept at 50% of cash flow, indicating strong asset quality.

Coterra Energy: Strategic Expansion, Resource Development & Other Major Drivers!

<ul><li>Coterra Energy's recent earnings present a mixed picture of the company's financial and operational standing.</li><li>On the positive side, Coterra exceeded its oil production guidance, with natural gas production surpassing expectations.</li><li>Additionally, capital expenditures were kept near the low end of projections, reflecting disciplined financial management.</li></ul>

Coterra Energy's recent earnings present a mixed picture of the company's financial and operational standing.On the positive side, Coterra exceeded its oil production guidance, with natural gas production surpassing expectations.Additionally, capital expenditures were kept near the low end of projections, reflecting disciplined financial management.

Coterra Energy: The 7 Most Significant Forces Steering Its Performance into 2025 & Beyond!

Providing investors with a balanced perspective, Massif Capital

Massif Capital Research

Providing investors with a balanced perspective

Massif Capital

Research focused on providing investors with a balanced perspective on the environmental and economic realities of achieving a carbon-neutral economy for businesses within the Energy, Basic Materials and Industrial industries.

The Massif Capital Real Asset Strategy is a global long/short equity strategy built around bottom-up stock picking. We are focused on creating a portfolio of businesses from within the Energy, Basic Materials and Industrial sectors that balance the environmental and economic realities of achieving a carbon-neutral economy.

Commodities

<h3><strong>This Week's Key Take Aways</strong></h3>
<ul>
<li>Lithium stock run may already be out of steam</li>
<li>Like Oil, the Natural Gas markets appear well supplied and are showing near-term weakness.</li>
<li>No love for North American lumber</li>
<li>Copper continues to have us on edge, love the long-term story, but we have got to survive the short and medium term to get there.</li>
<li>Renewable tax credit qualification has a new physical work standard; the race is on to build.</li>
</ul>

This Week's Key Take Aways

Lithium stock run may already be out of steam
Like Oil, the Natural Gas markets appear well supplied and are showing near-term weakness.
No love for North American lumber
Copper continues to have us on edge, love the long-term story, but we have got to survive the short and medium term to get there.
Renewable tax credit qualification has a new physical work standard; the race is on to build.


Real Asset Chartbook Week #18: Lithium Blinks, Gas Slips, Copper Stalls—Who Survives the Grind?

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

Event-Driven

<ul>
<li>
<a href="https://www.smartkarma.com/entities/santos-ltd" target="_blank" data-smartkarma-citation="entities:711:1" rel="noopener">Santos Ltd (STO AU)</a> has disclosed a “final” non-binding proposal from the XRG consortium at US$5.76 (A$8.89), a 27.7% premium to the undisturbed price of A$6.96 (13 June).</li>
<li>The offer is subject to several regulatory approvals. FIRB approval is the primary risk due to a foreign government-controlled entity controlling critical domestic infrastructure assets.</li>
<li>The offer is attractive compared to peer multiples and historical trading ranges. Retail has a mixed view on the offer, which should not be an issue for the vote.  </li>
</ul>



Santos Ltd (STO AU) has disclosed a “final” non-binding proposal from the XRG consortium at US$5.76 (A$8.89), a 27.7% premium to the undisturbed price of A$6.96 (13 June).
The offer is subject to several regulatory approvals. FIRB approval is the primary risk due to a foreign government-controlled entity controlling critical domestic infrastructure assets.
The offer is attractive compared to peer multiples and historical trading ranges. Retail has a mixed view on the offer, which should not be an issue for the vote.  


Santos (STO AU): XRG’s Non-Binding Offer Faces an FIRB Challenge

United States

Coterra Energy Inc. operates as a diversified energy company. The Company develops of oil and natural gas with a focus on protecting and preserving air quality, water resources, and the land on which we operate. Coterra Energy serves clients in the United States.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Coterra Energy (CTRA US)

Coterra Energy: Will These High-Impact Acquisitions Spark the Next Growth Wave?

Coterra Energy presented a strong performance in the third quarter of 2025, underpinned by higher-than-expected production across oil, natural...

Baptista Research

Coterra Energy: Strategic Expansion, Resource Development & Other Major Drivers!

Coterra Energy's recent earnings call provided a comprehensive overview of the company’s second-quarter 2025 performance, offering insights into...

Baptista Research

Coterra Energy: The 7 Most Significant Forces Steering Its Performance into 2025 & Beyond!

Coterra Energy's recent earnings present a mixed picture of the company's financial and operational standing. On the positive side, Coterra...

Baptista Research

Real Asset Chartbook Week #18: Lithium Blinks, Gas Slips, Copper Stalls—Who Survives the Grind?

This Week's Key Take Aways Lithium stock run may already be out of steam Like Oil, the Natural Gas markets appear well supplied and are showing...

Massif Capital Research

Santos (STO AU): XRG’s Non-Binding Offer Faces an FIRB Challenge

The offer is subject to several regulatory approvals. FIRB approval is the primary risk due to a foreign government-controlled entity controlling...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)