Capital One Financial Weighs in on Coterra Energy Inc.’s Q3 2024 Earnings (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Equities researchers at Capital One Financial lowered their Q3 2024 earnings per share estimates for Coterra Energy in a research report issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings of $0.34 per share for the quarter, down from their prior estimate of $0.51. The consensus estimate for Coterra Energy’s current full-year earnings is $1.95 per share. Capital One Financial also issued estimates for Coterra Energy’s Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $1.63 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.48 EPS and FY2025 earnings at $2.03 EPS.

CTRA has been the subject of several other reports. Bank of America restated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Susquehanna reduced their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating for the company in a research note on Wednesday, September 4th. Wolfe Research assumed coverage on Coterra Energy in a research report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. UBS Group reduced their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong 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 $32.59.

Coterra Energy Trading Up 1.5 %

NYSE:CTRA opened at $23.57 on Friday. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.89. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $17.54 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.16 and a beta of 0.22. The firm has a fifty day simple moving average of $24.49 and a two-hundred day simple moving average of $26.42.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business earned $0.38 EPS. The business’s quarterly revenue was up 7.3% compared to the same quarter last year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.56%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in Coterra Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after buying an additional 407,244 shares during the period. Schroder Investment Management Group grew its position in shares of Coterra Energy by 8.7% during the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after acquiring an additional 628,132 shares during the period. King Luther Capital Management Corp increased its stake in shares of Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN raised its holdings in shares of Coterra Energy by 1.0% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after purchasing an additional 51,249 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Coterra Energy by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.