Coterra Energy FY2024 EPS Lowered by Capital One Financial

Coterra Energy Inc. (NYSE:CTRA) – Research analysts at Capital One Financial dropped their FY2024 earnings estimates for Coterra Energy in a research report issued on Monday, November 11th. Capital One Financial analyst B. Velie now expects that the company will post earnings per share of $1.51 for the year, down from their previous estimate of $1.62. 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 $0.37 EPS, Q1 2025 earnings at $0.56 EPS, Q2 2025 earnings at $0.51 EPS, Q3 2025 earnings at $0.53 EPS, Q4 2025 earnings at $0.54 EPS and FY2025 earnings at $2.13 EPS.

A number of other analysts have also recently issued reports on the company. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Morgan Stanley increased 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 note on Thursday. Wells Fargo & Company decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 1st. Wolfe Research initiated coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Finally, Stephens lifted their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $32.00.

Coterra Energy Trading Up 0.1 %

Shares of CTRA opened at $25.44 on Wednesday. The stock’s 50-day moving average price is $23.86 and its 200 day moving average price is $25.50. 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. The firm has a market capitalization of $18.74 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 1.64 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data 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). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CTRA. Charles Schwab Investment Management Inc. boosted its holdings in Coterra Energy by 1.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock valued at $530,645,000 after acquiring an additional 305,626 shares during the last quarter. Victory Capital Management Inc. lifted its position in Coterra Energy by 1.2% during the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the period. King Luther Capital Management Corp boosted its stake in shares of Coterra Energy by 4.4% in the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after purchasing an additional 285,774 shares during the last quarter. Disciplined Growth Investors Inc. MN grew its position in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after buying an additional 51,249 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Coterra Energy by 29.1% during the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after buying an additional 1,013,107 shares during the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.30%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

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.