FY2024 EPS Estimates for Coterra Energy Increased by Analyst

Coterra Energy Inc. (NYSE:CTRA) – Analysts at Capital One Financial boosted their FY2024 earnings estimates for shares of Coterra Energy in a report issued on Wednesday, January 8th. Capital One Financial analyst B. Velie now expects that the company will earn $1.53 per share for the year, up from their previous 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.

A number of other brokerages have also recently weighed in on CTRA. Citigroup boosted their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Scotiabank reduced their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Barclays raised their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Morgan Stanley upped their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, UBS Group increased their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Two equities 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 stock. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $32.53.

Coterra Energy Stock Up 2.3 %

Shares of NYSE CTRA opened at $27.77 on Friday. The business has a 50-day moving average price of $25.43 and a 200 day moving average price of $24.95. The stock has a market cap of $20.46 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90.

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

Institutional Trading of Coterra Energy

Several institutional investors and hedge funds have recently modified their holdings of CTRA. Values First Advisors Inc. acquired a new stake in shares of Coterra Energy during the third quarter valued at $57,000. Tobam purchased a new stake in shares of Coterra Energy during the third quarter worth about $63,000. Capital Performance Advisors LLP acquired a new stake in Coterra Energy during the third quarter worth approximately $67,000. Bruce G. Allen Investments LLC grew its stake in Coterra Energy by 17.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the period. Finally, EverSource Wealth Advisors LLC raised its holdings in Coterra Energy by 48.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,479 shares of the company’s stock valued at $90,000 after acquiring an additional 1,128 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Transactions at Coterra Energy

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

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

About Coterra Energy

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.