Coterra Energy (NYSE:CTRA) Announces Quarterly Earnings Results

Coterra Energy (NYSE:CTRA) announced its quarterly earnings data on Wednesday. The company reported $0.61 earnings per share for the quarter, missing the consensus estimate of $0.89 by ($0.28), FiscalAI reports. The firm had revenue of $1.95 billion for the quarter, compared to the consensus estimate 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 on Friday, hitting $32.25. The company’s stock had a trading volume of 73,302,851 shares, compared to its average volume of 10,206,037. The company has a fifty day simple moving average of $33.06 and a two-hundred day simple moving average of $28.97. Coterra Energy has a 52 week low of $22.33 and a 52 week high of $36.88. The company has a market capitalization of $24.49 billion, a PE ratio of 14.15, a P/E/G ratio of 0.48 and a beta of 0.32. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.16 and a current ratio of 1.19.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders 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 dividend on an annualized basis and a yield of 2.7%. Coterra Energy’s dividend payout ratio is 38.60%.

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in the business. Corient Private Wealth LLC grew its position in Coterra Energy by 14.5% during the fourth quarter. Corient Private Wealth LLC now owns 202,725 shares of the company’s stock valued at $5,162,000 after buying an additional 25,641 shares during the period. Strive Financial Group LLC purchased a new position in shares of Coterra Energy during the 4th quarter valued at about $42,000. Mercer Global Advisors Inc. ADV grew its stake in shares of Coterra Energy by 4.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 139,128 shares of the company’s stock valued at $3,662,000 after acquiring an additional 5,415 shares during the period. Summit Global Investments increased its holdings in Coterra Energy by 64.8% in the 4th quarter. Summit Global Investments now owns 75,689 shares of the company’s stock worth $1,992,000 after acquiring an additional 29,775 shares in the last quarter. Finally, Beacon Pointe Advisors LLC raised its stake in Coterra Energy by 9.5% during the 4th quarter. Beacon Pointe Advisors LLC now owns 24,579 shares of the company’s stock worth $647,000 after acquiring an additional 2,141 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTRA has been the subject of several research reports. TD Cowen cut their price target on Coterra Energy from $33.00 to $32.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. Piper Sandler boosted their price objective on shares of Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Weiss Ratings upgraded shares of Coterra Energy from a “hold (c+)” rating to a “buy (b)” rating in a research note on Monday, March 2nd. Stephens upped their price target on shares of Coterra Energy from $33.00 to $34.00 and gave the stock an “overweight” rating in a report on Thursday, January 29th. Finally, Barclays increased their price objective on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Monday, March 16th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus target price of $37.32.

About Coterra Energy

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.