Capital One Financial Research Analysts Increase Earnings Estimates for Coterra Energy Inc. (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Equities research analysts at Capital One Financial increased their Q1 2024 earnings per share (EPS) estimates for shares of Coterra Energy in a research note issued to investors on Monday, April 15th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings of $0.43 per share for the quarter, up from their prior estimate of $0.39. The consensus estimate for Coterra Energy’s current full-year earnings is $1.92 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 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). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion.

Several other equities analysts have also recently commented on the stock. Truist Financial dropped their target price on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research report on Friday, April 5th. Morgan Stanley lifted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Piper Sandler boosted their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. JPMorgan Chase & Co. boosted their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. Finally, Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Friday, January 5th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $32.20.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.22 on Wednesday. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The company’s 50 day moving average price is $26.59 and its two-hundred day moving average price is $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 P/E ratio of 12.72 and a beta of 0.21.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in the company. Beacon Investment Advisors LLC boosted its holdings in Coterra Energy by 0.7% in the third quarter. Beacon Investment Advisors LLC now owns 62,447 shares of the company’s stock worth $1,689,000 after purchasing an additional 422 shares during the last quarter. Stone House Investment Management LLC boosted its holdings in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares during the last quarter. SouthState Corp boosted its holdings in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the last quarter. Echo Street Capital Management LLC boosted its holdings in Coterra Energy by 5.5% in the fourth quarter. Echo Street Capital Management LLC now owns 9,084 shares of the company’s stock worth $223,000 after purchasing an additional 477 shares during the last quarter. Finally, Hoxton Planning & Management LLC boosted its holdings in Coterra Energy by 3.9% in the first quarter. Hoxton Planning & Management LLC now owns 13,238 shares of the company’s stock worth $325,000 after purchasing an additional 500 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Insider Activity

In related news, CAO Todd M. Roemer sold 55,000 shares of the 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Michael D. Deshazer sold 14,000 shares of the 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Todd M. Roemer sold 55,000 shares of the 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 approximately $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.09%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is 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.