Coterra Energy Inc. (NYSE:CTRA) Forecasted to Earn Q3 2024 Earnings of $0.34 Per Share

Coterra Energy Inc. (NYSE:CTRA) – Capital One Financial lowered their Q3 2024 earnings per share estimates for Coterra Energy in a research report issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the company will post earnings per share of $0.34 for the quarter, down from their prior estimate of $0.51. The consensus estimate for Coterra Energy’s current full-year earnings is $1.95 per share. Capital One Financial also issued estimates for Coterra Energy’s Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $1.63 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.48 EPS and FY2025 earnings at $2.03 EPS.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the previous year, the business posted $0.38 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year.

A number of other equities analysts also recently issued reports on the company. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Truist Financial lowered their price target on Coterra Energy from $35.00 to $34.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating on the stock in a report on Monday, September 16th. Finally, Bank of America reiterated a “buy” rating and issued a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $32.59.

Coterra Energy Stock Up 0.4 %

Coterra Energy stock opened at $23.66 on Friday. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. The firm’s fifty day moving average price is $24.42 and its two-hundred day moving average price is $26.39. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.89.

Institutional Trading of Coterra Energy

Large investors have recently bought and sold shares of the company. Fifth Third Bancorp grew its stake in shares of Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after acquiring an additional 399 shares during the period. TCW Group Inc. increased its stake in shares of Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares in the last quarter. Redwood Wealth Management Group LLC increased its stake in shares of Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares in the last quarter. Cornercap Investment Counsel Inc. raised its position in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares during the period. Finally, Quent Capital LLC lifted its stake in shares of Coterra Energy by 8.1% during the 1st quarter. Quent Capital LLC now owns 5,923 shares of the company’s stock valued at $165,000 after buying an additional 445 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

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.