Coterra Energy Inc. Forecasted to Earn FY2024 Earnings of $1.73 Per Share (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Analysts at Capital One Financial reduced their FY2024 earnings estimates for Coterra Energy in a research note issued to investors on Monday, April 15th. Capital One Financial analyst B. Velie now expects that the company will earn $1.73 per share for the year, down from their prior estimate of $1.97. The consensus estimate for Coterra Energy’s current full-year earnings is $1.92 per share.

Other research analysts have also recently issued reports about the stock. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a report on Friday, January 5th. Raymond James increased their price target on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and cut their price target for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Morgan Stanley upped their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Piper Sandler upped their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, March 7th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $32.20.

Coterra Energy Trading Up 0.1 %

NYSE CTRA opened at $27.22 on Tuesday. The stock has a market capitalization of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89. The firm has a 50-day moving average price of $26.59 and a 200 day moving average price of $26.37. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The firm had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Insider Buying and Selling

In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently bought and sold shares of the stock. ICA Group Wealth Management LLC purchased a new position in Coterra Energy during the fourth quarter worth approximately $25,000. Quarry LP raised its stake in shares of Coterra Energy by 157.4% in the 4th quarter. Quarry LP now owns 1,063 shares of the company’s stock valued at $27,000 after acquiring an additional 650 shares during the period. SouthState Corp raised its stake in shares of Coterra Energy by 75.4% in the 3rd quarter. SouthState Corp now owns 1,056 shares of the company’s stock valued at $29,000 after acquiring an additional 454 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in shares of Coterra Energy in the 4th quarter valued at $33,000. Finally, Tennessee Valley Asset Management Partners purchased a new position in shares of Coterra Energy in the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.