Scotiabank Brokers Cut Earnings Estimates for Coterra Energy

Coterra Energy Inc. (NYSE:CTRA - Free Report) - Research analysts at Scotiabank cut their FY2025 earnings estimates for Coterra Energy in a note issued to investors on Wednesday, March 19th. Scotiabank analyst P. Cheng now expects that the company will post earnings per share of $3.12 for the year, down from their previous estimate of $3.32. The consensus estimate for Coterra Energy's current full-year earnings is $1.54 per share.

Several other brokerages also recently commented on CTRA. Piper Sandler upped their price objective on Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research report on Thursday, March 6th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and increased their target price for the stock from $34.00 to $37.00 in a report on Wednesday, March 12th. UBS Group upped their target price on Coterra Energy from $35.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, February 13th. Williams Trading set a $37.00 price target on Coterra Energy in a report on Wednesday, March 5th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th. Three investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $34.35.

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Coterra Energy Trading Down 1.2 %

Shares of Coterra Energy stock traded down $0.36 during trading on Monday, hitting $28.51. The stock had a trading volume of 4,549,321 shares, compared to its average volume of 5,876,588. The stock has a market cap of $21.79 billion, a PE ratio of 17.18, a PEG ratio of 0.59 and a beta of 0.26. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95. The firm's fifty day simple moving average is $27.96 and its 200-day simple moving average is $25.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTRA. Wellington Management Group LLP lifted its stake in Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company's stock worth $1,705,480,000 after purchasing an additional 15,736,247 shares during the last quarter. Sterling Capital Management LLC increased its position in shares of Coterra Energy by 5,744.3% during the 4th quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after purchasing an additional 3,599,042 shares during the period. Holocene Advisors LP lifted its stake in Coterra Energy by 187.2% during the third quarter. Holocene Advisors LP now owns 4,533,269 shares of the company's stock valued at $108,572,000 after purchasing an additional 2,954,675 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Coterra Energy by 117.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after acquiring an additional 2,600,801 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Coterra Energy during the 4th quarter worth about $61,461,000. 87.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Coterra Energy

In related news, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company's stock.

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 given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.09%. This is a boost from Coterra Energy's previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Thursday, March 13th. Coterra Energy's dividend payout ratio (DPR) is presently 58.28%.

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.