FY2024 EPS Estimates for Coterra Energy Inc. (NYSE:CTRA) Reduced by Capital One Financial

Coterra Energy Inc. (NYSE:CTRA) – Capital One Financial dropped their FY2024 earnings estimates for shares of Coterra Energy in a report released on Monday, April 15th. Capital One Financial analyst B. Velie now expects that the company will post earnings of $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.

Other analysts also recently issued research reports about the stock. Truist Financial cut their price objective on shares of Coterra Energy from $30.00 to $27.00 and set a “hold” rating for the company in a report on Friday, April 5th. Raymond James boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, January 24th. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Friday, January 5th. Mizuho restated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research report on Wednesday, April 3rd. Finally, Morgan Stanley dropped their target price on shares of Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating for the company in a research report on Thursday, March 28th. Two 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, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Coterra Energy Stock Performance

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 company has a market capitalization of $20.44 billion, a P/E ratio of 12.71 and a beta of 0.21. Coterra Energy has a 12-month low of $22.91 and a 12-month high of $29.89. The firm has a 50-day moving average price of $26.47 and a two-hundred day moving average price of $26.36.

Coterra Energy (NYSE:CTRA) last announced 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 the consensus estimate of $1.54 billion. Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given 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 is currently 39.25%.

Insider Buying and Selling

In related news, VP Michael D. Deshazer sold 14,000 shares of the company’s 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 transaction, the vice president now directly owns 93,988 shares in the company, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the business’s 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 directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently added to or reduced their stakes in CTRA. Vanguard Group Inc. bought a new stake in Coterra Energy during the 1st quarter worth approximately $2,472,575,000. State Street Corp bought a new stake in Coterra Energy during the 1st quarter worth approximately $1,493,855,000. Northern Trust Corp bought a new stake in shares of Coterra Energy in the 1st quarter valued at $300,998,000. Invesco Ltd. bought a new stake in shares of Coterra Energy in the 1st quarter valued at $169,781,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of Coterra Energy in the 1st quarter valued at $151,999,000. 87.92% of the stock is 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.