Coterra Energy Inc. (NYSE:CTRA) Plans $0.22 Quarterly Dividend

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) announced a quarterly dividend on Monday, May 5th, RTT News reports. Investors of record on Thursday, May 15th will be given a dividend of 0.22 per share on Thursday, May 29th. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. The ex-dividend date of this dividend is Thursday, May 15th.

Coterra Energy has raised its dividend by an average of 23.6% annually over the last three years and has raised its dividend every year for the last 4 years. Coterra Energy has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Coterra Energy to earn $3.13 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 28.1%.

Coterra Energy Trading Up 1.2 %

NYSE:CTRA traded up $0.28 during trading hours on Friday, reaching $23.40. 5,653,311 shares of the company were exchanged, compared to its average volume of 6,334,114. The firm has a market cap of $17.88 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.59 and a beta of 0.33. The stock has a 50 day simple moving average of $26.30 and a 200 day simple moving average of $26.37. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted $0.51 EPS. The business's quarterly revenue was up 32.9% on a year-over-year basis. As a group, analysts predict that Coterra Energy will post 1.54 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Susquehanna decreased their target price on Coterra Energy from $34.00 to $32.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley set a $28.00 price objective on shares of Coterra Energy in a research report on Tuesday, April 15th. Bank of America reduced their target price on shares of Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. JPMorgan Chase & Co. lowered their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Finally, Johnson Rice upgraded Coterra Energy from a "hold" rating to an "accumulate" rating and boosted their price objective for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $33.75.

Insider Transactions at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This trade represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

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.