Coterra Energy (NYSE:CTRA) Releases Quarterly Earnings Results, Misses Expectations By $0.28 EPS

Coterra Energy (NYSE:CTRA) released its quarterly earnings data on Wednesday. The company reported $0.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.28), FiscalAI reports. The business 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%

NYSE CTRA traded down $0.31 on Friday, hitting $32.25. The stock had a trading volume of 73,302,851 shares, compared to its average volume of 10,206,037. The business’s fifty day moving average price is $33.06 and its 200 day moving average price is $28.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.19 and a quick ratio of 1.16. Coterra Energy has a 52-week low of $22.33 and a 52-week high of $36.88. The stock has a market cap of $24.49 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.48 and a beta of 0.32.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 11th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend was Wednesday, March 11th. Coterra Energy’s payout ratio is currently 38.60%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on CTRA shares. Zacks Research raised Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, April 15th. JPMorgan Chase & Co. reduced their price target on Coterra Energy from $34.00 to $31.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Morgan Stanley upped their price objective on Coterra Energy from $28.00 to $42.00 and gave the stock an “equal weight” rating in a research note on Tuesday, April 28th. Piper Sandler lifted their target price on Coterra Energy from $41.00 to $47.00 and gave the company an “overweight” rating in a research note on Thursday, March 12th. Finally, Stephens boosted their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and nine have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $37.32.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors and hedge funds have recently made changes to their positions in CTRA. Triumph Capital Management acquired a new stake in shares of Coterra Energy during the third quarter worth $31,000. Strive Financial Group LLC acquired a new stake in shares of Coterra Energy during the fourth quarter worth $42,000. DV Equities LLC acquired a new position in Coterra Energy during the fourth quarter valued at $46,000. MUFG Securities EMEA plc acquired a new position in Coterra Energy during the second quarter valued at $57,000. Finally, Wilmington Savings Fund Society FSB lifted its position in Coterra Energy by 25.0% during the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,645 shares of the company’s stock valued at $70,000 after purchasing an additional 529 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile

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.