Coterra Energy Inc. to Post Q1 2024 Earnings of $0.39 Per Share, Capital One Financial Forecasts (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA - Free Report) - Stock analysts at Capital One Financial lowered their Q1 2024 earnings per share estimates for shares of Coterra Energy in a research note issued to investors on Wednesday, April 3rd. Capital One Financial analyst B. Velie now forecasts that the company will post earnings of $0.39 per share for the quarter, down from their prior forecast of $0.48. The consensus estimate for Coterra Energy's current full-year earnings is $1.98 per share. Capital One Financial also issued estimates for Coterra Energy's FY2024 earnings at $1.97 EPS.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts' consensus estimates of $0.55 by ($0.06). Coterra Energy had a return on equity of 12.97% and a net margin of 27.48%. The company had revenue of $1.60 billion during the quarter, compared to the consensus estimate of $1.54 billion.

Several other research firms have also recently issued reports on CTRA. Mizuho reaffirmed a "buy" rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Wednesday. Wells Fargo & Company upgraded Coterra Energy from an "equal weight" rating to an "overweight" rating and set a $30.00 price objective for the company in a research note on Thursday, December 14th. Raymond James upped their price objective on Coterra Energy from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 24th. Stifel Nicolaus reduced their price objective on Coterra Energy from $33.00 to $31.00 and set a "buy" rating for the company in a research note on Friday, March 22nd. Finally, Truist Financial reduced their price objective on Coterra Energy from $30.00 to $27.00 and set a "hold" rating for the company in a research note on Friday. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and a consensus target price of $31.46.

Coterra Energy Stock Down 0.1 %

CTRA stock traded down $0.04 during midday trading on Friday, hitting $28.32. The company's stock had a trading volume of 9,923,366 shares, compared to its average volume of 7,080,371. The company has a market cap of $21.29 billion, a PE ratio of 13.23 and a beta of 0.21. Coterra Energy has a 12 month low of $22.91 and a 12 month high of $29.89. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The firm's 50-day moving average is $26.11 and its 200-day moving average is $26.32.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. The ex-dividend date was Wednesday, March 13th. This is an increase from Coterra Energy's previous quarterly dividend of $0.20. Coterra Energy's dividend payout ratio is 39.25%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company's stock, valued at approximately $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now owns 93,988 shares of the company's stock, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company's stock, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. Raymond James Financial Services Advisors Inc. bought a new stake in Coterra Energy in the first quarter worth about $1,267,000. D.A. Davidson & CO. bought a new stake in Coterra Energy in the first quarter worth about $305,000. Yousif Capital Management LLC bought a new stake in Coterra Energy in the first quarter worth about $3,011,000. Raymond James Trust N.A. bought a new stake in Coterra Energy in the first quarter worth about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in shares of Coterra Energy during the first quarter worth approximately $3,218,000. Institutional investors own 87.92% 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.