Coterra Energy (NYSE:CTRA) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Key Points

• Coterra Energy reported earnings per share of $0.46, missing the analysts' expectations of $0.50 by $0.04.
• The company's stock price increased by 1.2% to $23.99, with a market capitalization of $18.31 billion.
• Analysts have a range of ratings for Coterra Energy, with an average price target of $33.16, indicating a generally positive outlook despite recent price adjustments.

Coterra Energy (NYSE:CTRA - Get Free Report) posted its quarterly earnings results on Monday. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02), Briefing.com reports. Coterra Energy had a net margin of 21.67% and a return on equity of 10.61%. The firm had revenue of $1.97 billion during the quarter, compared to analysts' expectations of $1.78 billion. During the same period last year, the company earned $0.37 EPS. The business's quarterly revenue was up 54.6% on a year-over-year basis.

Coterra Energy Stock Up 1.2%

Coterra Energy stock opened at $23.99 on Tuesday. The stock has a market cap of $18.31 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 0.32 and a beta of 0.33. 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's 50-day moving average price is $25.12 and its two-hundred day moving average price is $26.12. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.7%. Coterra Energy's payout ratio is currently 51.16%.

Analyst Ratings Changes

CTRA has been the subject of a number of research analyst reports. Barclays increased their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a research report on Monday, July 7th. Wells Fargo & Company lowered their price objective on shares of Coterra Energy from $33.00 to $31.00 and set an "overweight" rating for the company in a research report on Monday, June 16th. UBS Group lowered their price objective on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (up previously from $36.00) on shares of Coterra Energy in a research report on Thursday, July 17th. Finally, Raymond James Financial set a $38.00 price objective on shares of Coterra Energy and gave the stock an "outperform" rating in a research report on Friday, June 13th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $33.16.

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.