Coterra Energy Inc. (NYSE:CTRA) Plans $0.22 Quarterly Dividend

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Monday, November 3rd. Stockholders of record on Thursday, November 13th will be paid a dividend of 0.22 per share on Wednesday, November 26th. This represents a c) dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date is Thursday, November 13th.

Coterra Energy has increased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 4 years. Coterra Energy has a payout ratio of 28.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.1%.

Coterra Energy Stock Up 3.1%

Shares of CTRA opened at $24.40 on Tuesday. The stock has a 50 day moving average price of $23.77 and a 200 day moving average price of $24.42. Coterra Energy has a one year low of $22.33 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.08 and a current ratio of 1.13. The stock has a market capitalization of $18.62 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the business posted $0.37 EPS. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. Equities research analysts forecast that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

CTRA has been the topic of several analyst reports. Morgan Stanley reduced their price target on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Mizuho cut their target price on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research report on Wednesday, October 8th. UBS Group decreased their price target on Coterra Energy from $30.00 to $29.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Finally, Susquehanna cut their price objective on Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research report on Monday, October 20th. Sixteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.30.

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.