Coterra Energy (NYSE:CTRA) Posts Earnings Results, Misses Estimates By $0.28 EPS

Coterra Energy (NYSE:CTRA) announced its quarterly earnings data on Wednesday. The company reported $0.61 earnings per share for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.28), FiscalAI reports. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.25 billion. Coterra Energy had a net margin of 22.46% and a return on equity of 10.43%.

Coterra Energy Stock Down 0.9%

Shares of Coterra Energy stock traded down $0.31 during trading hours on Friday, hitting $32.25. The company had a trading volume of 73,302,851 shares, compared to its average volume of 10,206,037. The company’s 50-day moving average is $33.06 and its two-hundred day moving average is $28.97. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $36.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. The company has a market cap of $24.49 billion, a P/E ratio of 14.15, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 11th were issued a $0.22 dividend. The ex-dividend date was Wednesday, March 11th. This represents a $0.88 annualized dividend and a dividend yield of 2.7%. Coterra Energy’s dividend payout ratio is presently 38.60%.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Stephens lifted their price objective on shares of Coterra Energy from $33.00 to $34.00 and gave the company an “overweight” rating in a report on Thursday, January 29th. UBS Group lifted their price objective on shares of Coterra Energy from $33.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, March 5th. Barclays lifted their price objective on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a report on Monday, March 16th. Finally, Capital One Financial boosted their price target on shares of Coterra Energy from $37.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, March 25th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, Coterra Energy has an average rating of “Moderate Buy” and a consensus price target of $37.32.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Triumph Capital Management acquired a new position in shares of Coterra Energy in the 3rd quarter valued at $31,000. Strive Financial Group LLC acquired a new position in shares of Coterra Energy in the 4th quarter valued at $42,000. DV Equities LLC acquired a new position in shares of Coterra Energy in the 4th quarter valued at $46,000. MUFG Securities EMEA plc acquired a new position in shares of Coterra Energy in the 2nd quarter valued at $57,000. Finally, Wilmington Savings Fund Society FSB boosted its holdings in shares of Coterra Energy by 25.0% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,645 shares of the company’s stock valued at $70,000 after buying an additional 529 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.