Scotiabank Forecasts Coterra Energy FY2024 Earnings

Coterra Energy Inc. (NYSE:CTRA) – Stock analysts at Scotiabank issued their FY2024 earnings estimates for shares of Coterra Energy in a research note issued on Wednesday, January 8th. Scotiabank analyst P. Cheng expects that the company will post earnings of $1.48 per share for the year. Scotiabank has a “Sector Outperform” rating and a $32.00 price objective on the stock. The consensus estimate for Coterra Energy’s current full-year earnings is $1.53 per share.

A number of other equities research analysts also recently issued reports on CTRA. Piper Sandler lowered their price objective on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Susquehanna increased their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Barclays increased their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Stephens increased their price objective on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Finally, Morgan Stanley increased their price objective on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $32.76.

Coterra Energy Trading Up 1.0 %

Shares of CTRA stock opened at $28.89 on Monday. The stock has a market capitalization of $21.28 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.64 and a beta of 0.27. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.17. The company’s fifty day simple moving average is $25.75 and its two-hundred day simple moving average is $24.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. During the same period in the previous year, the firm earned $0.47 EPS. The company’s revenue was up .2% compared to the same quarter last year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.91%. Coterra Energy’s dividend payout ratio (DPR) is currently 50.60%.

Insider Activity

In related news, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. 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 and hedge funds have recently bought and sold shares of CTRA. City State Bank purchased a new stake in Coterra Energy in the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in Coterra Energy by 192.2% in the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after buying an additional 744 shares during the period. Values First Advisors Inc. purchased a new stake in Coterra Energy in the third quarter worth about $57,000. Tobam purchased a new stake in Coterra Energy in the third quarter worth about $63,000. Finally, Capital Performance Advisors LLP purchased a new stake in Coterra Energy in the third quarter worth about $67,000. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.