Scotiabank Comments on Coterra Energy FY2024 Earnings

Coterra Energy Inc. (NYSE:CTRA - Free Report) - Stock analysts at Scotiabank issued their FY2024 EPS estimates for Coterra Energy in a report released on Wednesday, January 8th. Scotiabank analyst P. Cheng anticipates that the company will earn $1.48 per share for the year. Scotiabank currently has a "Sector Outperform" rating and a $32.00 target price on the stock. The consensus estimate for Coterra Energy's current full-year earnings is $1.53 per share.

A number of other research analysts have also recently issued reports on the stock. Barclays lifted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company an "overweight" rating in a report on Thursday, November 14th. Wells Fargo & Company increased their price objective on Coterra Energy from $32.00 to $35.00 and gave the stock an "overweight" rating in a research note on Friday, November 15th. Citigroup raised their target price on Coterra Energy from $28.00 to $32.00 and gave the company a "buy" rating in a report on Tuesday, November 26th. Susquehanna upped their price target on Coterra Energy from $30.00 to $33.00 and gave the stock a "positive" rating in a report on Thursday, November 14th. Finally, Truist Financial raised their price objective on Coterra Energy from $31.00 to $33.00 and gave the company a "buy" rating in a research note on Thursday, November 14th. 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. According to data from MarketBeat, Coterra Energy has an average rating of "Moderate Buy" and a consensus target price of $32.53.

Coterra Energy Price Performance

Shares of CTRA opened at $27.77 on Monday. The stock has a market cap of $20.46 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.64 and a beta of 0.27. The business's fifty day moving average is $25.53 and its 200 day moving average is $24.92. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12-month low of $22.30 and a 12-month 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 the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm's revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 EPS.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC purchased a new position in Coterra Energy during the second quarter valued at approximately $1,807,000. Choreo LLC purchased a new position in shares of Coterra Energy during the 2nd quarter valued at $614,000. DekaBank Deutsche Girozentrale increased its holdings in shares of Coterra Energy by 36.5% in the second quarter. DekaBank Deutsche Girozentrale now owns 250,833 shares of the company's stock worth $6,706,000 after purchasing an additional 67,045 shares during the period. Meeder Advisory Services Inc. bought a new stake in Coterra Energy during the second quarter valued at $252,000. Finally, Thoroughbred Financial Services LLC purchased a new position in Coterra Energy during the second quarter worth about $351,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

Insider Transactions at Coterra Energy

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

Coterra Energy Dividend Announcement

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

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.