Why Corterra Energy (CTRA) Shares Are Falling

Coterra Energy Inc CTRA shares are trading lower by 2.69% to $25.64 Monday morning. Shares of natural gas stocks are trading lower following mild March weather forecasts.The April natural gas contract is down some 13.49% to $2.61 Monday morning.

Per a Monday report from Natural Gas Intelligence, anticipated March cold that had othwerwise sharply lifted the natural gas April contract to and above the $3-level last week has been negated following lower-than-expected heating from forecasts over the weekend.

Data from NatGasWeather meanwhile says the American weather model lost a staggering 25 heating degree days (HDD) from the 15-day weather forecast. The European model dropped 32 HDD from the outlook.

According to data from Benzinga Pro, CTRA has a 52-week high of $36.55 and a 52-week low of $21.98.