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

Key Points

• Coterra Energy Inc. has declared a quarterly dividend of $0.22 per share, payable on August 28th to stockholders of record as of August 14th, representing an annualized dividend yield of 3.7%.
• The company reported quarterly earnings of $0.46 per share, falling short of analysts' expectations of $0.50, with a net margin of 21.67%.
• Coterra Energy maintains a dividend payout ratio of 28.0%, suggesting that it is effectively covering its dividend from its earnings, with future earnings projected to support this rate.

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) announced a quarterly dividend on Monday, August 4th, RTT News reports. Stockholders of record on Thursday, August 14th will be given a dividend of 0.22 per share on Thursday, August 28th. This represents a c) annualized dividend and a dividend yield of 3.6%. The ex-dividend date is Thursday, August 14th.

Coterra Energy has a dividend payout ratio of 28.0% meaning 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 Price Performance

Shares of Coterra Energy stock traded down $0.09 on Wednesday, hitting $24.23. 6,303,130 shares of the company traded hands, compared to its average volume of 7,150,679. The firm's 50-day simple moving average is $25.11 and its 200 day simple moving average is $26.11. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The company has a market cap of $18.50 billion, a P/E ratio of 11.60, a P/E/G ratio of 0.32 and a beta of 0.33. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. Coterra Energy had a return on equity of 11.22% and a net margin of 23.80%. The firm's quarterly revenue was up 54.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 EPS. Analysts expect that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in CTRA. Wells Fargo & Company MN raised its holdings in Coterra Energy by 16.1% in the 4th quarter. Wells Fargo & Company MN now owns 2,181,198 shares of the company's stock worth $55,708,000 after purchasing an additional 302,327 shares in the last quarter. Resona Asset Management Co. Ltd. bought a new position in Coterra Energy in the 4th quarter worth $5,454,000. Envestnet Asset Management Inc. raised its holdings in Coterra Energy by 117.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after purchasing an additional 2,600,801 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Coterra Energy by 16.0% during the 4th quarter. Russell Investments Group Ltd. now owns 1,024,501 shares of the company's stock valued at $26,166,000 after buying an additional 141,491 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Coterra Energy by 4.6% during the 4th quarter. Cerity Partners LLC now owns 357,468 shares of the company's stock valued at $8,716,000 after buying an additional 15,834 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

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.