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

Coterra Energy Inc. (NYSE:CTRA) – Analysts at Capital One Financial reduced 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 expects that the company will post earnings per share of $1.73 for the year, down from their prior 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 released its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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.

A number of other equities research analysts have also recently commented on CTRA. Stifel Nicolaus decreased their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. UBS Group lifted their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Piper Sandler lifted their price objective on shares of Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday, March 7th. JPMorgan Chase & Co. lifted their price objective 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, Truist Financial reduced their price objective 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. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $32.00.

Coterra Energy Price Performance

NYSE CTRA opened at $27.19 on Tuesday. Coterra Energy has a 12 month low of $22.91 and a 12 month high of $29.89. The stock has a market cap of $20.44 billion, a price-to-earnings ratio of 12.70 and a beta of 0.21. The company’s 50 day moving average is $26.47 and its two-hundred day moving average is $26.36. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s payout ratio is presently 39.25%.

Insiders Place Their Bets

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction 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 transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction 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 transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction on Wednesday, March 20th. The stock was 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 of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. ICA Group Wealth Management LLC bought a new stake in shares of Coterra Energy during the fourth quarter worth $25,000. Quarry LP lifted its position in shares of Coterra Energy by 157.4% during the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. SouthState Corp lifted its position in shares of Coterra Energy by 75.4% during 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. Wetzel Investment Advisors Inc. bought a new stake in shares of Coterra Energy during the fourth quarter worth $33,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in shares of Coterra Energy during the fourth quarter worth $33,000. 87.92% of the stock is currently owned by institutional investors.

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.