FY2024 EPS Estimates for Coterra Energy Inc. Lowered by Analyst (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Analysts at Capital One Financial lowered their FY2024 earnings per share (EPS) estimates for shares of Coterra Energy in a note issued to 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 estimate of $1.97. The consensus estimate for Coterra Energy’s current full-year earnings is $1.95 per share.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.06). The company had revenue of $1.60 billion during the quarter, compared to analysts’ expectations 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 subject of several other reports. UBS Group upped their target price on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Raymond James increased their price target on Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Susquehanna upgraded Coterra Energy from a “neutral” rating to a “positive” rating and lowered their price target for the stock from $31.00 to $30.00 in a report on Friday, January 26th. Piper Sandler increased their price target on Coterra Energy from $33.00 to $35.00 and gave the stock an “overweight” rating in a report on Thursday, March 7th. Finally, Stifel Nicolaus lowered their price target on Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

Coterra Energy Stock Down 1.6 %

Shares of NYSE:CTRA opened at $27.19 on Tuesday. 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 business has a fifty day moving average of $26.47 and a two-hundred day moving average of $26.36. The stock has a market cap of $20.44 billion, a P/E ratio of 12.70 and a beta of 0.21. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. acquired a new stake in Coterra Energy in the 1st quarter valued at about $2,472,575,000. State Street Corp acquired a new stake in Coterra Energy in the 1st quarter valued at about $1,493,855,000. Geode Capital Management LLC raised its position in shares of Coterra Energy by 5.7% during the 1st quarter. Geode Capital Management LLC now owns 18,494,265 shares of the company’s stock worth $454,088,000 after acquiring an additional 1,000,620 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Coterra Energy by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after acquiring an additional 235,636 shares in the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Coterra Energy by 3.5% during the 3rd quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after acquiring an additional 544,768 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Insider Activity at Coterra Energy

In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The stock was 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 owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. This is a boost 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 (DPR) 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.