Coterra Energy FY2024 EPS Raised by Capital One Financial

Coterra Energy Inc. (NYSE:CTRA) – Stock analysts at Capital One Financial boosted their FY2024 EPS estimates for shares of Coterra Energy in a note issued to investors on Wednesday, January 8th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings per share of $1.53 for the year, up from their prior estimate of $1.52. The consensus estimate for Coterra Energy’s current full-year earnings is $1.53 per share. Capital One Financial also issued estimates for Coterra Energy’s Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.79 EPS and Q4 2025 earnings at $0.80 EPS.

Other analysts have also recently issued reports about the stock. Piper Sandler reduced their price objective on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. UBS Group raised their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Truist Financial boosted their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research report on Thursday, November 14th. Finally, Citigroup raised their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Stock Up 2.9 %

CTRA opened at $27.12 on Friday. The firm has a market cap of $19.98 billion, a P/E ratio of 16.34, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The business has a 50 day moving average price of $25.36 and a 200 day moving average price of $24.94. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $28.90.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in shares of Coterra Energy during the second quarter valued at approximately $1,807,000. Choreo LLC bought a new stake in shares of Coterra Energy during the second quarter worth $614,000. Daiwa Securities Group Inc. boosted its holdings in Coterra Energy by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 81,502 shares of the company’s stock valued at $2,174,000 after acquiring an additional 7,170 shares during the last quarter. American Century Companies Inc. increased its position in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the period. Finally, Cornercap Investment Counsel Inc. raised its holdings in Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares during the last quarter. Institutional investors own 87.92% of the company’s stock.

Insider Buying and Selling

In other news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Kevin William Smith sold 29,643 shares of the stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares in the company, valued at approximately $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.10%. Coterra Energy’s payout ratio is presently 50.60%.

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.