Coterra Energy Inc. (NYSE:CTRA) to Post Q1 2024 Earnings of $0.43 Per Share, Capital One Financial Forecasts

Coterra Energy Inc. (NYSE:CTRA) – Stock analysts at Capital One Financial increased their Q1 2024 earnings per share 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 per share of $0.43 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.

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

A number of other research analysts have also recently issued reports on the company. Piper Sandler lifted their price objective on Coterra Energy from $33.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday, March 7th. Raymond James lifted their price objective on Coterra Energy from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. lifted their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective for the company in a report on Friday, January 5th. Finally, Mizuho reissued a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.20.

Coterra Energy Stock Performance

CTRA stock traded up $0.03 during midday trading on Wednesday, hitting $27.22. The stock had a trading volume of 5,464,861 shares, compared to its average volume of 6,945,805. The firm has a market capitalization of $20.47 billion, a price-to-earnings ratio of 12.80 and a beta of 0.21. Coterra Energy has a 52 week low of $22.91 and a 52 week high of $29.89. The stock has a 50-day simple moving average of $26.47 and a 200 day simple moving average of $26.36. 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 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 given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, March 13th. Coterra Energy’s dividend payout ratio (DPR) is presently 39.25%.

Insider Buying and Selling

In related news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was 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 directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was 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 directly owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently modified their holdings of CTRA. ICA Group Wealth Management LLC acquired a new position in shares of Coterra Energy during the 4th quarter worth about $25,000. Quarry LP grew 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 worth $27,000 after buying an additional 650 shares during the period. SouthState Corp grew its position in shares of Coterra Energy by 75.4% during the 3rd 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 during the 4th quarter worth about $33,000. Finally, Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy during the 4th quarter worth about $33,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.