Research Analysts Issue Forecasts for Coterra Energy Inc.’s FY2024 Earnings (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Equities researchers at Capital One Financial decreased their FY2024 earnings estimates for shares of Coterra Energy in a research report issued to clients and investors on Monday, April 15th. Capital One Financial analyst B. Velie now anticipates that the company will earn $1.73 per share for the year, down from their previous forecast of $1.97. The consensus estimate for Coterra Energy’s current full-year earnings is $1.92 per share.

Coterra Energy (NYSE:CTRA) last released 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). The company had revenue of $1.60 billion for 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%.

CTRA has been the topic of several other research reports. Barclays started coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a report on Friday, March 1st. Mizuho reaffirmed a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a report on Wednesday, April 3rd. Susquehanna raised shares of Coterra Energy from a “neutral” rating to a “positive” rating and lowered their target price for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Finally, Morgan Stanley upped their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.20.

Coterra Energy Trading Up 0.1 %

Shares of Coterra Energy stock opened at $27.22 on Tuesday. The firm has a market capitalization of $20.46 billion, a PE ratio of 12.72 and a beta of 0.21. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.21 and a quick ratio of 1.18. The company’s fifty day moving average price is $26.59 and its two-hundred day moving average price is $26.37. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89.

Institutional Trading of Coterra Energy

Hedge funds have recently modified their holdings of the company. Van ECK Associates Corp raised its holdings in Coterra Energy by 2.1% during the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock worth $3,068,000 after buying an additional 2,376 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Coterra Energy during the 3rd quarter worth approximately $1,461,000. HITE Hedge Asset Management LLC acquired a new stake in Coterra Energy during the 4th quarter worth approximately $11,485,000. Nordea Investment Management AB raised its holdings in Coterra Energy by 3.9% during the 3rd quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock worth $21,844,000 after buying an additional 30,237 shares during the period. Finally, Pinnacle Associates Ltd. raised its holdings in Coterra Energy by 5.3% during the 4th quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock worth $343,000 after buying an additional 679 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, 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 value of $1,488,300.00. Following the sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 completion of the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders 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 is an increase from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. Coterra Energy’s dividend 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.