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 Inc. reported strong first quarter 2024 results, with total equivalent production reaching the high end of guidance at 686,000 barrels of oil equivalent per day.</li><li>This was driven by well performance that exceeded expectations and optimal production timing.</li><li>The company increased its full year oil guidance while holding its natural gas guidance unchanged.</li></ul>

Coterra Energy Inc. reported strong first quarter 2024 results, with total equivalent production reaching the high end of guidance at 686,000 barrels of oil equivalent per day.This was driven by well performance that exceeded expectations and optimal production timing.The company increased its full year oil guidance while holding its natural gas guidance unchanged.

Coterra Energy: Balanced Portfolio and M&A Strategy

<ul><li>Coterra Energy displayed excellent financial results, exceeding oil, natural gas, and BOE (barrels of oil equivalent) guidance for Q4 with below capital guide.</li><li>Oil volumes demonstrated year-over-year growth of 10%, while the company declared a 5% growth for the BOE. The company's capital is expected to vary between $1.75 billion to $1.95 billion for 2024, investing approximately 60% of projected cash flow.</li><li>In terms of geographic investment, focus will be placed on boosting investment in the Permian and Anadarko basins while retrenching in the Marcellus.</li></ul>

Coterra Energy displayed excellent financial results, exceeding oil, natural gas, and BOE (barrels of oil equivalent) guidance for Q4 with below capital guide.Oil volumes demonstrated year-over-year growth of 10%, while the company declared a 5% growth for the BOE. The company's capital is expected to vary between $1.75 billion to $1.95 billion for 2024, investing approximately 60% of projected cash flow.In terms of geographic investment, focus will be placed on boosting investment in the Permian and Anadarko basins while retrenching in the Marcellus.

Coterra Energy Inc.: These Are The 6 Major Growth Drivers & 3 Biggest Challenges For The Company! - Financial Forecasts

<ul><li>This is our first report on oil and gas behemoth, Coterra Energy.</li><li>The average daily production volumes in the second quarter amounted to 665 thousand barrels of oil equivalent.</li><li>In contrast, the average daily oil production reached a significant high of 95.8 thousand barrels daily, marking a significant milestone for Coterra.</li></ul>

This is our first report on oil and gas behemoth, Coterra Energy.The average daily production volumes in the second quarter amounted to 665 thousand barrels of oil equivalent.In contrast, the average daily oil production reached a significant high of 95.8 thousand barrels daily, marking a significant milestone for Coterra.

Coterra Energy Inc.: Initiation of Coverage - Business Strategy

Technical Analyst, Vermilion Research

Joe Jasper

Technical Analyst

Technical and Quantitative Research

Vermilion Research

Vermilion’s objective is to deliver timely, actionable, and unique technical research to professional investors through the application of our various technical indicators.

Our research strategists seek to highlight securities which we believe are at major inflection points, based on our various technical and quantitative indicators, and offer asymmetric risk/return profiles. Our unique research methodology, centered on relative strength, enables our strategists to deliver superior investment recommendations.

Our process begins by organizing the universe of actively traded stocks into discrete sectors, then into industry groups. We then apply our technical and quantitative tools to identify developing price trends. Once attractive trends are identified within a selected sector or group, we screen for individual stocks which we believe offer the best risk/reward profile. We provide a historical perspective that often reveals, through our long-term charts, how price patterns often repeat themselves over time.

Technical Analysis

<ul>
<li>Over the last two weeks we discussed expectations for an oversold bounce; the bounce has continued. We believe it is possible we've seen the lows for this pause/pullback on SPX.</li>
<li>We see low probability of a meaningful correction if SPX is above 4300-4325 (1.5-year support), but would not be surprised to see another month+ of consolidation between 4325 and 4600.</li>
<li>Shorter-Term, as long as 4460 short-term support holds, we expect a test of 4600. Today we highlight several buys within Energy.</li>
</ul>


Over the last two weeks we discussed expectations for an oversold bounce; the bounce has continued. We believe it is possible we've seen the lows for this pause/pullback on SPX.
We see low probability of a meaningful correction if SPX is above 4300-4325 (1.5-year support), but would not be surprised to see another month+ of consolidation between 4325 and 4600.
Shorter-Term, as long as 4460 short-term support holds, we expect a test of 4600. Today we highlight several buys within Energy.


Bounce Continues; Small-Caps Test 3.5-Year RS Lows; Nasdaq/NYSE Breadth Improving; Buys in Energy

<ul>
<li>Support levels discussed in our 8/8/23 Compass broke, leading to a change in character (from buy the dup to sell the rip) and a deeper pullback.</li>
<li>Supports we were watching included the 50-day MA and 4460-4475 on the S&amp;P 500, $371.50 on $QQQ, and $190-193 on the $IWM; these are now resistance moving forward</li>
<li>Longer-Term support on the S&amp;P 500 is at 4300-4325 (nearly hit on Friday) and 4200, and we will remain constructive as long as these supports hold.</li>
</ul>


Support levels discussed in our 8/8/23 Compass broke, leading to a change in character (from buy the dup to sell the rip) and a deeper pullback.
Supports we were watching included the 50-day MA and 4460-4475 on the S&amp;P 500, $371.50 on $QQQ, and $190-193 on the $IWM; these are now resistance moving forward
Longer-Term support on the S&amp;P 500 is at 4300-4325 (nearly hit on Friday) and 4200, and we will remain constructive as long as these supports hold.


Pause Continues But Oversold Bounce Likely; Buys in Energy, Construction/Engineering, Enrgy Shippers

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.

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Coterra Energy (CTRA US)

Coterra Energy: Balanced Portfolio and M&A Strategy

Coterra Energy Inc. reported strong first quarter 2024 results, with total equivalent production reaching the high end of guidance at 686,000...

Baptista Research

Coterra Energy Inc.: These Are The 6 Major Growth Drivers & 3 Biggest Challenges For The Company! - Financial Forecasts

Coterra Energy displayed excellent financial results, exceeding oil, natural gas, and BOE (barrels of oil equivalent) guidance for Q4 with below...

Baptista Research

Coterra Energy Inc.: Initiation of Coverage - Business Strategy

This is our first report on oil and gas behemoth, Coterra Energy. The average daily production volumes in the second quarter amounted to 665...

Baptista Research

Bounce Continues; Small-Caps Test 3.5-Year RS Lows; Nasdaq/NYSE Breadth Improving; Buys in Energy

Expectations over the past two weeks for an oversold bounce in $SPX have played out. 4300-4325 (1.5-year support) remains solid floor, but could...

Vermilion Research

Pause Continues But Oversold Bounce Likely; Buys in Energy, Construction/Engineering, Enrgy Shippers

$SPX broke support discussed in our Aug 8 Compass (50-day MA/4460), leading to change in character (now sell the rips) and deeper pullback. Expect...

Vermilion Research

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