Capital One Financial Research Analysts Increase Earnings Estimates for Coterra Energy Inc. (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Investment analysts at Capital One Financial upped their Q1 2024 EPS estimates for Coterra Energy in a note issued to investors on Monday, April 15th. Capital One Financial analyst B. Velie now expects that the company will earn $0.43 per share for the quarter, up from their prior forecast of $0.39. The consensus estimate for Coterra Energy’s current full-year earnings is $1.92 per share. Capital One Financial also issued estimates for Coterra Energy’s Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.44 EPS, Q4 2024 earnings at $0.44 EPS and FY2025 earnings at $2.71 EPS.

CTRA has been the subject of a number of other research reports. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, January 5th. 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 research note on Friday, January 26th. Stifel Nicolaus lowered their target price on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Barclays initiated coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 target price for the company. Finally, JPMorgan Chase & Co. raised their price objective on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.20.

Coterra Energy Trading Up 0.1 %

Shares of CTRA opened at $27.22 on Wednesday. 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 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 $26.59 and a 200 day moving average price of $26.37. The firm has a market capitalization of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21.

Coterra Energy (NYSE:CTRA) last issued 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). The business had revenue of $1.60 billion during 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%.

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 $0.21 dividend. 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. This represents a $0.84 annualized dividend and a yield of 3.09%. Coterra Energy’s dividend payout ratio (DPR) is 39.25%.

Insider Activity at Coterra Energy

In related news, VP Michael D. Deshazer sold 14,000 shares of the firm’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 value of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the firm’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 owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of the firm’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 approximately $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Van ECK Associates Corp raised its position in Coterra Energy by 2.1% in the 3rd quarter. Van ECK Associates Corp now owns 113,399 shares of the company’s stock valued at $3,068,000 after purchasing an additional 2,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Coterra Energy in the 3rd quarter valued at $1,461,000. HITE Hedge Asset Management LLC purchased a new stake in Coterra Energy in the 4th quarter valued at $11,485,000. Nordea Investment Management AB raised its position in Coterra Energy by 3.9% in the 3rd quarter. Nordea Investment Management AB now owns 803,979 shares of the company’s stock valued at $21,844,000 after purchasing an additional 30,237 shares during the last quarter. Finally, Pinnacle Associates Ltd. raised its position in Coterra Energy by 5.3% in the 4th quarter. Pinnacle Associates Ltd. now owns 13,443 shares of the company’s stock valued at $343,000 after purchasing an additional 679 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.