Coterra Energy (NYSE:CTRA) Issues Earnings Results, Beats Expectations By $0.05 EPS

Coterra Energy (NYSE:CTRA - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05, Zacks reports. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.40 billion during the quarter, compared to analyst estimates of $1.40 billion.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $0.25 during midday trading on Thursday, reaching $26.62. 4,119,401 shares of the company traded hands, compared to its average volume of 6,153,699. The firm has a market cap of $19.61 billion, a PE ratio of 16.02, a PEG ratio of 0.59 and a beta of 0.26. The stock's 50-day simple moving average is $27.35 and its 200-day simple moving average is $25.46. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, March 13th. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.31%. Coterra Energy's dividend payout ratio (DPR) is presently 50.60%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction dated 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 transaction, the senior vice president now directly owns 77,075 shares of the company's stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTRA shares. Barclays raised their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an "overweight" rating in a research report on Wednesday. Morgan Stanley raised their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an "equal weight" rating in a research report on Thursday, November 14th. Truist Financial upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Jefferies Financial Group upped their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group upped their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $33.47.

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.