FY2024 EPS Estimates for Coterra Energy Inc. Reduced by Capital One Financial (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Research analysts at Capital One Financial decreased their FY2024 earnings estimates for shares of 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 of $1.73 per share for the year, down from their previous forecast of $1.97. The consensus estimate for Coterra Energy’s current full-year earnings is $1.95 per share.

Several other equities analysts have also recently commented on CTRA. Scotiabank boosted their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “sector outperform” rating in a report on Thursday, April 11th. Mizuho restated a “buy” rating and set a $34.00 price target on shares of Coterra Energy in a report on Wednesday, April 3rd. Stephens restated an “overweight” rating and set a $39.00 price target on shares of Coterra Energy in a report on Tuesday, January 23rd. Stifel Nicolaus lowered their price target on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a report on Friday, March 22nd. Finally, Morgan Stanley lowered their price target on shares of Coterra Energy from $27.00 to $26.00 and set an “equal weight” rating on the stock in a report on Thursday, March 28th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $27.19 on Tuesday. The company’s fifty day moving average is $26.47 and its two-hundred day moving average is $26.36. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. Coterra Energy has a 12-month low of $22.91 and a 12-month high of $29.89. The company has a market cap of $20.44 billion, a P/E ratio of 12.71 and a beta of 0.21.

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

Coterra Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were issued a $0.21 dividend. The ex-dividend date was Wednesday, March 13th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. This represents a $0.84 dividend on an annualized basis and a yield of 3.09%. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’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 directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’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 directly owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CTRA. Vanguard Group Inc. acquired a new position in shares of Coterra Energy during the first quarter valued at about $2,472,575,000. State Street Corp acquired a new position in shares of Coterra Energy during the first quarter valued at about $1,493,855,000. Northern Trust Corp acquired a new position in shares of Coterra Energy during the first quarter valued at about $300,998,000. Invesco Ltd. acquired a new position in shares of Coterra Energy during the first quarter valued at about $169,781,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in shares of Coterra Energy during the first quarter valued at about $151,999,000. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.