Capital One Financial Analysts Raise Earnings Estimates for Coterra Energy Inc. (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA - Free Report) - Capital One Financial lifted their Q1 2024 earnings estimates for Coterra Energy in a research report issued on Monday, April 15th. Capital One Financial analyst B. Velie now anticipates that the company will post earnings of $0.43 per share for the quarter, up from their previous forecast of $0.39. The consensus estimate for Coterra Energy's current full-year earnings is $1.92 per share. Capital One Financial also issued estimates for Coterra Energy's Q2 2024 earnings at $0.43 EPS, Q3 2024 earnings at $0.44 EPS, Q4 2024 earnings at $0.44 EPS and FY2025 earnings at $2.71 EPS.

Other equities research analysts also recently issued reports about the stock. Barclays began coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an "overweight" rating and a $36.00 price objective for the company. Piper Sandler upped their target price on shares of Coterra Energy from $33.00 to $35.00 and gave the company an "overweight" rating in a research note on Thursday, March 7th. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $32.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Bank of America upgraded shares of Coterra Energy from a "neutral" rating to a "buy" rating and set a $31.00 target price for the company in a research note on Friday, January 5th. Finally, Morgan Stanley upped their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the company an "equal weight" rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Coterra Energy presently has an average rating of "Moderate Buy" and an average price target of $32.20.

Coterra Energy Trading Up 0.1 %

CTRA traded up $0.02 during trading on Wednesday, hitting $27.22. 5,466,169 shares of the company's stock were exchanged, compared to its average volume of 6,945,839. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. Coterra Energy has a 1 year low of $22.91 and a 1 year high of $29.89. The stock has a 50 day moving average price of $26.59 and a 200 day moving average price of $26.37. The firm has a market cap of $20.46 billion, a P/E ratio of 12.72 and a beta of 0.21.

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

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. ICA Group Wealth Management LLC bought a new position in shares of Coterra Energy during the 4th quarter valued at about $25,000. Quarry LP boosted its position in shares of Coterra Energy by 157.4% during the 4th quarter. Quarry LP now owns 1,063 shares of the company's stock valued at $27,000 after purchasing an additional 650 shares in the last quarter. SouthState Corp boosted its holdings in shares of Coterra Energy by 75.4% in the third quarter. SouthState Corp now owns 1,056 shares of the company's stock worth $29,000 after buying an additional 454 shares during the period. Wetzel Investment Advisors Inc. acquired a new position in shares of Coterra Energy in the fourth quarter worth about $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy in the fourth quarter worth about $33,000. Institutional investors own 87.92% of the company's stock.

Insider Buying and Selling

In related news, 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 value of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares of the company's stock, valued at approximately $4,783,071.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 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 in the company, valued at approximately $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 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. Corporate insiders own 1.70% of the company's stock.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Wednesday, March 13th. This is a boost from Coterra Energy's previous quarterly dividend of $0.20. Coterra Energy's dividend payout ratio (DPR) is 39.25%.

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.