FY2024 EPS Estimates for Coterra Energy Lifted by Analyst

Coterra Energy Inc. (NYSE:CTRA) – Stock analysts at Capital One Financial raised their FY2024 earnings per share estimates for Coterra Energy in a report released on Wednesday, January 8th. Capital One Financial analyst B. Velie now forecasts that the company will post earnings per share of $1.53 for the year, up from their previous 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.

Several other equities analysts also recently commented on CTRA. Truist Financial increased their target price on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Citigroup increased their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Scotiabank dropped their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Mizuho lifted their target price on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Piper Sandler cut their target price on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.53.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.77 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $20.46 billion, a PE ratio of 16.73, a P/E/G ratio of 1.64 and a beta of 0.27. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The stock has a 50-day moving average price of $25.53 and a two-hundred day moving average price of $24.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $0.47 earnings per share.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of Coterra Energy in the 2nd quarter worth about $1,807,000. Choreo LLC bought a new stake in shares of Coterra Energy in the 2nd quarter valued at about $614,000. Daiwa Securities Group Inc. lifted its stake in shares of Coterra Energy by 9.6% in the 2nd quarter. Daiwa Securities Group Inc. now owns 81,502 shares of the company’s stock valued at $2,174,000 after acquiring an additional 7,170 shares during the last quarter. American Century Companies Inc. lifted its stake 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 valued at $119,968,000 after acquiring an additional 1,013,107 shares during the last quarter. Finally, Cornercap Investment Counsel Inc. lifted its stake in shares of Coterra Energy by 0.7% in the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after acquiring an additional 436 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the business’s 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 transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at approximately $2,016,282. The trade was 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 business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.02%. Coterra Energy’s payout ratio is 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.