Coterra Energy Inc. (NYSE:CTRA) Expected to Post Q4 2022 Earnings of $1.07 Per Share

Coterra Energy Inc. (NYSE:CTRA – Get Rating) – Investment analysts at Seaport Res Ptn dropped their Q4 2022 earnings estimates for Coterra Energy in a report released on Monday, January 23rd. Seaport Res Ptn analyst N. Pope now forecasts that the company will post earnings of $1.07 per share for the quarter, down from their prior forecast of $1.08. The consensus estimate for Coterra Energy’s current full-year earnings is $4.87 per share.

CTRA has been the topic of a number of other reports. Jefferies Financial Group assumed coverage on shares of Coterra Energy in a research report on Wednesday, October 19th. They set a “hold” rating and a $32.00 target price on the stock. Bank of America upgraded shares of Coterra Energy from an “underperform” rating to a “neutral” rating and dropped their price target for the stock from $30.00 to $29.00 in a research note on Friday, January 6th. Citigroup lowered shares of Coterra Energy from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $27.00 to $23.00 in a research note on Wednesday, December 7th. Tudor Pickering lowered shares of Coterra Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, November 30th. Finally, Mizuho restated a “buy” rating and issued a $41.00 price target (down previously from $42.00) on shares of Coterra Energy in a research note on Tuesday, January 10th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $32.20.

Coterra Energy Trading Down 2.2 %

Shares of CTRA stock opened at $25.20 on Wednesday. The stock has a market cap of $19.87 billion, a price-to-earnings ratio of 5.09, a price-to-earnings-growth ratio of 0.13 and a beta of 0.25. The company has a quick ratio of 1.62, a current ratio of 1.66 and a debt-to-equity ratio of 0.17. Coterra Energy has a fifty-two week low of $19.26 and a fifty-two week high of $36.55. The firm’s 50 day moving average price is $25.50 and its two-hundred day moving average price is $27.78.

Coterra Energy (NYSE:CTRA – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.43 billion.

Coterra Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th were issued a $0.68 dividend. The ex-dividend date was Tuesday, November 15th. This represents a $2.72 annualized dividend and a yield of 10.79%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s dividend payout ratio is presently 12.12%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, Director Hans Helmerich sold 5,000 shares of the company’s stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the completion of the sale, the director now directly owns 225,755 shares of the company’s stock, valued at approximately $6,239,868.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of hedge funds have recently bought and sold shares of CTRA. Vanguard Group Inc. acquired a new position in shares of Coterra Energy in the 1st quarter valued at about $2,472,575,000. BlackRock Inc. increased its holdings in Coterra Energy by 4.1% in the third quarter. BlackRock Inc. now owns 66,485,968 shares of the company’s stock worth $1,736,614,000 after buying an additional 2,629,712 shares during the last quarter. State Street Corp acquired a new position in Coterra Energy in the first quarter worth approximately $1,493,855,000. Victory Capital Management Inc. increased its holdings in Coterra Energy by 2.4% in the third quarter. Victory Capital Management Inc. now owns 12,825,447 shares of the company’s stock worth $335,001,000 after buying an additional 298,777 shares during the last quarter. Finally, Northern Trust Corp acquired a new position in Coterra Energy in the first quarter worth approximately $300,998,000. 94.72% of the stock is owned by hedge funds and other institutional investors.

About Coterra Energy

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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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.