Q1 2024 EPS Estimates for Coterra Energy Inc. (NYSE:CTRA) Boosted by Capital One Financial

Coterra Energy Inc. (NYSE:CTRA) – Equities research analysts at Capital One Financial boosted their Q1 2024 earnings per share (EPS) estimates for shares of Coterra Energy in a note issued to investors on Monday, April 15th. Capital One Financial analyst B. Velie now expects that the company will earn $0.43 per share for the quarter, up from their previous forecast of $0.39. The consensus estimate for Coterra Energy’s current full-year earnings is $1.93 per share. Capital One Financial also issued estimates for Coterra Energy’s Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.44 EPS, Q4 2024 earnings at $0.44 EPS and FY2025 earnings at $2.71 EPS.

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

A number of other brokerages have also recently issued reports on CTRA. Scotiabank increased their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Raymond James increased their target price on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. increased their target price on Coterra Energy from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 4th. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a report on Friday, January 5th. Finally, Barclays assumed coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price for the company. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.20.

Coterra Energy Stock Performance

Coterra Energy stock opened at $27.22 on Wednesday. The business has a 50 day moving average price of $26.59 and a two-hundred 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. The stock has a market cap of $20.46 billion, a price-to-earnings ratio of 12.72 and a beta of 0.21. Coterra Energy has a 12 month low of $22.91 and a 12 month high of $29.89.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Coterra Energy in the first quarter valued at about $1,267,000. D.A. Davidson & CO. bought a new stake in shares of Coterra Energy in the first quarter valued at about $305,000. Yousif Capital Management LLC bought a new stake in shares of Coterra Energy in the first quarter valued at about $3,011,000. Raymond James Trust N.A. bought a new stake in shares of Coterra Energy in the first quarter valued at about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in shares of Coterra Energy in the first quarter valued at about $3,218,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Coterra Energy

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

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders 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 dividend yield of 3.09%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s payout ratio is presently 39.25%.

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.