While the proven Zacks Rank places an emphasis on earnings estimates and estimate revisions to find strong stocks, we also know that investors tend to develop their own individual strategies. With this in mind, we are always looking at value, growth, and momentum trends to discover great companies.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors use tried-and-true metrics and fundamental analysis to find companies that they believe are undervalued at their current share price levels.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is Coterra Energy (CTRA). CTRA is currently holding a Zacks Rank of #2 (Buy) and a Value grade of A. The stock is trading with P/E ratio of 8.81 right now. For comparison, its industry sports an average P/E of 11.98. Over the past year, CTRA's Forward P/E has been as high as 13.01 and as low as 8.17, with a median of 10.52.

CTRA is also sporting a PEG ratio of 0.88. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. CTRA's PEG compares to its industry's average PEG of 1.42. Over the last 12 months, CTRA's PEG has been as high as 1.22 and as low as 0.16, with a median of 0.92.

Investors should also recognize that CTRA has a P/B ratio of 1.44. The P/B ratio pits a stock's market value against its book value, which is defined as total assets minus total liabilities. This stock's P/B looks attractive against its industry's average P/B of 1.79. Over the past year, CTRA's P/B has been as high as 1.64 and as low as 1.28, with a median of 1.47.

If you're looking for another solid Oil and Gas - Exploration and Production - United States value stock, take a look at Geopark (GPRK). GPRK is a # 1 (Strong Buy) stock with a Value score of A.

Additionally, Geopark has a P/B ratio of 2.40 while its industry's price-to-book ratio sits at 1.79. For GPRK, this valuation metric has been as high as 3.23, as low as 2.05, with a median of 2.73 over the past year.

Value investors will likely look at more than just these metrics, but the above data helps show that Coterra Energy and Geopark are likely undervalued currently. And when considering the strength of its earnings outlook, CTRA and GPRK sticks out as one of the market's strongest value stocks.

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Coterra Energy Inc. (CTRA) : Free Stock Analysis Report

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