Coterra Energy Inc. (NYSE:CTRA) to Issue Quarterly Dividend of $0.21

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Thursday, August 1st, Zacks reports. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.21 per share on Thursday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, August 15th.

Coterra Energy has raised its dividend by an average of 26.0% annually over the last three years. Coterra Energy has a payout ratio of 28.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Coterra Energy to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 29.6%.

Coterra Energy Price Performance

Shares of NYSE CTRA traded down $1.29 during midday trading on Friday, hitting $24.11. The company had a trading volume of 13,521,471 shares, compared to its average volume of 5,338,893. The firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. Coterra Energy has a twelve month low of $23.73 and a twelve month high of $29.89. The business has a 50-day simple moving average of $26.87 and a two-hundred day simple moving average of $26.71. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. Equities research analysts anticipate that Coterra Energy will post 2.02 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on CTRA shares. Piper Sandler increased their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Citigroup raised their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Barclays started coverage on Coterra Energy in a research note on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 target price on the stock. Scotiabank raised their price target on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research report on Thursday, April 11th. Finally, BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $33.94.

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.