Coterra Energy (NYSE:CTRA) Issues Earnings Results

Coterra Energy (NYSE:CTRA - Get Free Report) posted its quarterly earnings data on Monday. The company reported $0.80 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.09, Briefing.com reports. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $924.00 million for the quarter, compared to analysts' expectations of $1.92 billion. During the same period in the previous year, the company posted $0.51 EPS. The company's quarterly revenue was up 32.9% compared to the same quarter last year.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded up $0.28 during trading on Friday, reaching $23.40. The stock had a trading volume of 5,653,311 shares, compared to its average volume of 6,327,565. The stock has a market capitalization of $17.88 billion, a PE ratio of 14.10, a P/E/G ratio of 0.59 and a beta of 0.33. 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 has a 52 week low of $22.30 and a 52 week high of $29.95. The business's 50-day moving average price is $26.30 and its 200 day moving average price is $26.35.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.22 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a yield of 3.76%. Coterra Energy's dividend payout ratio is 51.16%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on CTRA shares. Raymond James lowered their target price on Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 12th. Piper Sandler lifted their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Barclays dropped their price target on shares of Coterra Energy from $37.00 to $35.00 and set an "overweight" rating on the stock in a research note on Tuesday. Scotiabank lowered their target price on Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating on the stock in a research note on Friday, April 11th. Finally, The Goldman Sachs Group boosted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Three 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 data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $33.75.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. This represents a 19.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction 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 completion of the sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

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.