Coterra Energy Inc. to Issue Quarterly Dividend of $0.21 (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Friday, May 3rd, Wall Street Journal reports. Investors of record on Thursday, May 16th will be paid a dividend of 0.21 per share on Thursday, May 30th. This represents a $0.84 dividend on an annualized basis and a yield of 2.98%. The ex-dividend date is Wednesday, May 15th.

Coterra Energy has raised its dividend by an average of 26.0% annually over the last three years and has increased its dividend every year for the last 1 years. Coterra Energy has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Coterra Energy to earn $2.82 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 29.8%.

Coterra Energy Price Performance

Shares of NYSE:CTRA traded up $1.03 on Friday, hitting $28.19. The company had a trading volume of 11,385,949 shares, compared to its average volume of 6,791,417. 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 company has a market cap of $21.19 billion, a PE ratio of 13.17 and a beta of 0.22. Coterra Energy has a 52-week low of $22.91 and a 52-week high of $29.89. The business has a 50 day moving average of $27.30 and a 200 day moving average of $26.40.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to analysts’ expectations of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. As a group, equities analysts anticipate that Coterra Energy will post 1.82 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently weighed in on CTRA shares. Bank of America upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 target price on the stock in a report on Friday, January 5th. UBS Group increased their target price on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Mizuho raised their target price on Coterra Energy from $34.00 to $37.00 and gave the company a “buy” rating in a report on Friday. Barclays began coverage on Coterra Energy in a report on Wednesday, April 10th. They issued an “overweight” rating and a $36.00 price target for the company. Finally, Scotiabank lifted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a research note on Thursday, April 11th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

Insiders Place Their Bets

In related news, CAO Todd M. Roemer sold 55,000 shares of the business’s 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 sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was 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 directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the firm’s stock in a transaction on 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 sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company 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.