Natural gas stocks have been on the rise in the stock market in recent years. This comes as more and more companies are turning to this cleaner-burning fossil fuel to power their operations. In fact, Natural gas is now the fastest-growing energy source in the United States, and it is expected to overtake coal as the country’s leading source of electricity generation by 2030.
There are a number of reasons for this shift, but perhaps the most important is that Natural gas emits significantly less carbon dioxide than coal when burned. This is not only good for the environment, but it is also good for public health, as reducing emissions can help to improve air quality. As more and more states adopt stricter regulations on emissions, Natural gas is likely to continue gaining market share. This could make Natural gas stocks an attractive investment for those looking to profit from the transition to a low-carbon economy. If this sounds like you, here are three top natural gas stocks to watch in the stock market this week.
Natural Gas Stocks To Watch Today
- Southwestern Energy Company (NYSE: SWN)
- Range Resources Corporation (NYSE: RRC)
- Coterra Energy Inc. (NYSE: CTRA)
1. Southwestern Energy (SWN Stock)
First up, Southwestern Energy (SWN) is one of the largest producers of natural gas in the United States. The company is engaged in exploration, development, and production activities. This includes related natural gas gathering and marketing.
SWN Recent Stock News
At the end of October, Southwestern Energy announced its third-quarter 2022 financial results. Diving in, the company reported earnings per share of $0.32, along with revenue of $4.5 billion for Q3 2022. In addition, SWN also reported a revenue increase of 184.2%, compared to the same period, a year prior.
Bill Way, Southwestern Energy President, and CEO commented, “During the third quarter, the Company executed on its plan, progressed debt repayment and achieved our target leverage range. This was complemented by continued return of capital to our shareholders, bringing total share repurchases to date to 10% of the authorized amount.“
SWN Stock Chart
To open Monday’s trading session, shares of Southwestern Energy stock are trading higher by 7.27% at $7.30 a share.
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2. Range Resources (RRC Stock)
Next, Range Resources Corporation (RRC) is an American oil and gas company. The company focuses all of its efforts on its operations in the Marcellus Shale in Pennsylvania. For a sense of scale, as of year-end in 2021, the company reported reserves totaling 17.8 trillion cubic feet equivalent, with net production of 2.1 billion cubic feet equivalent per day.
RRC Recent Stock News
Last month, Range Resources released its 3rd quarter 2022 financial results. In the report, RRC posted earnings of $1.37 per share and revenue of $1.1 billion for Q3 2022. What’s more, the company notched in a 267% increase during the same period, in 2021.
Furthermore, Jeff Ventura, the Company’s CEO commented, “Range delivered record free cash flow and cash flow per share in the third quarter, allowing us to reduce net debt while increasing returns of capital to shareholders. Range has unlocked a massive inventory of high-quality wells in the Marcellus, measured in decades, and translated that inventory into a business capable of generating healthy free cash flow and returns of capital through the cycles.”
RRC Stock Chart
As of Monday morning’s trading session, RRC stock jumped 6.82%, currently trading at $29.95 a share.
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3. Coterra Energy (CTRA Stock)
Last but not least, Coterra Energy (CTRA) is an independent exploration and production company with operations in Appalachia and the Permian Basin. In brief, the company was formed after the 2021 merger with Cabot and Cimarex. For a sense of scale, as of the end of 2021 Coterra’s proved reserves were 2.9 billion barrels of oil equivalent, with net production that year of approximately 431 million barrels of oil equivalent per day.
CTRA Recent Stock News
Just last week, Coterra Energy reported its 3rd quarter 2022 financial and operating results. In it, the company reported an EPS of $1.39, with revenue of $2.5 billion for the third quarter of 2022. Impressively, CTRA also reported a 472.2% increase in revenue during the same period, a year prior.
What’s more, Thomas E. Jorden, CEO, and President commented, “Coterra continues to execute and has delivered another strong operational quarter with outsized shareholder returns. Just over one year since the formation of this company, I am extremely proud of what we have accomplished and am excited for the future.“
CTRA Stock Chart
Meanwhile, during Monday morning’s trading action, shares of CTRA stock are trading higher by 4.15%, trading at $30.08 a share.