Coterra Energy Inc. to Post Q1 2024 Earnings of $0.43 Per Share, Capital One Financial Forecasts (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Equities researchers at Capital One Financial boosted their Q1 2024 earnings estimates for shares of Coterra Energy in a research note issued to investors on Monday, April 15th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings per share of $0.43 for the quarter, up from their previous forecast of $0.39. The consensus estimate for Coterra Energy’s current full-year earnings is $1.93 per share. Capital One Financial also issued estimates for Coterra Energy’s Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.44 EPS, Q4 2024 earnings at $0.44 EPS and FY2025 earnings at $2.71 EPS.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The firm had revenue of $1.60 billion for the quarter, compared to the consensus estimate of $1.54 billion.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley lifted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday. Bank of America raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Friday, January 5th. Stephens reaffirmed an “overweight” rating and issued a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. Raymond James boosted their target price on shares of Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. Finally, UBS Group boosted their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and a consensus price target of $32.20.

Coterra Energy Price Performance

Coterra Energy stock opened at $27.22 on Wednesday. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The company’s 50 day moving average price is $26.59 and its two-hundred day moving average price is $26.37. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market cap of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21.

Institutional Trading of Coterra Energy

Hedge funds have recently added to or reduced their stakes in the business. ICA Group Wealth Management LLC bought a new stake in Coterra Energy in the fourth quarter worth $25,000. Quarry LP lifted its stake in Coterra Energy by 157.4% in the fourth quarter. Quarry LP now owns 1,063 shares of the company’s stock worth $27,000 after purchasing an additional 650 shares during the last quarter. SouthState Corp lifted its stake in Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after purchasing an additional 454 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new stake in Coterra Energy in the fourth quarter worth $33,000. Finally, Tennessee Valley Asset Management Partners bought a new stake in Coterra Energy in the fourth quarter worth $33,000. 87.92% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the sale, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Coterra Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were given a dividend of $0.21 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s payout ratio is 39.25%.

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.