Coterra Energy (NYSE:CTRA) Issues Quarterly Earnings Results

Coterra Energy (NYSE:CTRA) posted its quarterly earnings data on Thursday. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02), Briefing.com reports. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year.

Coterra Energy Stock Down 5.1 %

Shares of NYSE CTRA traded down $1.29 during trading on Friday, reaching $24.11. The company had a trading volume of 13,521,471 shares, compared to its average volume of 5,338,893. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The stock has a market cap of $17.94 billion, a PE ratio of 13.94, a P/E/G ratio of 1.49 and a beta of 0.24. Coterra Energy has a 12-month low of $23.73 and a 12-month high of $29.89. The business’s 50-day moving average is $26.87 and its 200 day moving average is $26.73.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend is Thursday, August 15th. Coterra Energy’s payout ratio is presently 48.55%.

Wall Street Analysts Forecast Growth

CTRA has been the topic of a number of research reports. Citigroup raised their target price on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Friday, May 24th. Morgan Stanley raised their price target on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. Piper Sandler upped their price objective on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 14th. Mizuho boosted their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a “buy” rating in a research note on Monday, May 13th. Finally, Susquehanna upped their target price on Coterra Energy from $32.00 to $33.00 and gave the company a “positive” rating in a research note on Tuesday, May 7th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.94.

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.