Analysts Set Expectations for Coterra Energy FY2024 Earnings

Coterra Energy Inc. (NYSE:CTRA - Free Report) - Analysts at Capital One Financial increased their FY2024 earnings per share (EPS) estimates for Coterra Energy in a report released on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the company will earn $1.53 per share for the year, up from their prior forecast of $1.52. The consensus estimate for Coterra Energy's current full-year earnings is $1.53 per share. Capital One Financial also issued estimates for Coterra Energy's Q4 2024 earnings at $0.39 EPS, Q1 2025 earnings at $0.84 EPS, Q2 2025 earnings at $0.77 EPS, Q3 2025 earnings at $0.79 EPS and Q4 2025 earnings at $0.80 EPS.

CTRA has been the subject of several other reports. UBS Group raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the company a "buy" rating in a research note on Friday, November 15th. Truist Financial lifted their price target on Coterra Energy from $31.00 to $33.00 and gave the stock a "buy" rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the company an "overweight" rating in a research note on Friday, November 15th. Citigroup lifted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a "buy" rating in a research report on Tuesday, November 26th. Finally, Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Coterra Energy has a consensus rating of "Moderate Buy" and a consensus target price of $32.53.

Coterra Energy Price Performance

Shares of CTRA stock traded up $0.62 during midday trading on Friday, reaching $27.77. 11,810,280 shares of the company traded hands, compared to its average volume of 6,664,572. The firm's 50 day simple moving average is $25.43 and its two-hundred day simple moving average is $24.95. The firm has a market cap of $20.46 billion, a PE ratio of 16.73, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analysts' expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS.

Institutional Investors Weigh In On Coterra Energy

Several large investors have recently added to or reduced their stakes in the company. Values First Advisors Inc. purchased a new stake in Coterra Energy during the 3rd quarter worth about $57,000. Tobam bought a new position in shares of Coterra Energy in the third quarter valued at approximately $63,000. Capital Performance Advisors LLP purchased a new position in Coterra Energy during the third quarter valued at approximately $67,000. Bruce G. Allen Investments LLC grew its stake in Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company's stock valued at $73,000 after acquiring an additional 450 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in Coterra Energy by 48.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 3,479 shares of the company's stock worth $90,000 after acquiring an additional 1,128 shares during the period. Hedge funds and other institutional investors own 87.92% of the company's stock.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the sale, the senior vice president now owns 72,409 shares of the company's stock, valued at approximately $1,937,664.84. The trade was a 18.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the firm's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares of the company's stock, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy's payout ratio is presently 50.60%.

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.