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

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Thursday, October 31st, NASDAQ reports. Shareholders of record on Thursday, November 14th will be given a dividend of 0.21 per share on Wednesday, November 27th. This represents a $0.84 annualized dividend and a yield of 3.70%. The ex-dividend date is Thursday, November 14th.

Coterra Energy has raised its dividend by an average of 26.0% per year over the last three years. Coterra Energy has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Coterra Energy to earn $2.34 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 35.9%.

Coterra Energy Trading Down 5.1 %

Shares of CTRA traded down $1.21 during trading hours on Friday, reaching $22.71. The stock had a trading volume of 12,080,512 shares, compared to its average volume of 6,230,813. The company has a market cap of $16.79 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.49 and a beta of 0.22. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The firm has a 50-day moving average of $23.82 and a 200 day moving average of $25.73.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the company earned $0.38 EPS. The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, sell-side analysts expect that Coterra Energy will post 1.62 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Truist Financial reduced their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Monday, September 30th. Wells Fargo & Company lowered their price target on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. UBS Group reduced their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Susquehanna lowered their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $31.24.

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.