Coterra Energy Inc. Plans Quarterly Dividend of $0.21 (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Thursday, August 1st, Zacks reports. Stockholders of record on Thursday, August 15th will be given a dividend of 0.21 per share on Thursday, August 29th. This represents a $0.84 annualized dividend and a dividend yield of 3.48%. The ex-dividend date is Thursday, August 15th.

Coterra Energy has raised its dividend payment by an average of 26.0% annually over the last three years. Coterra Energy has a payout ratio of 28.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Coterra Energy to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 29.6%.

Coterra Energy Stock Performance

Shares of CTRA traded down $1.29 during trading hours on Friday, hitting $24.11. The company’s stock had a trading volume of 13,521,471 shares, compared to its average volume of 5,338,893. The company has a market cap of $17.94 billion, a price-to-earnings ratio of 13.94, a PEG ratio of 1.49 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The business has a 50 day simple moving average of $26.87 and a two-hundred day simple moving average of $26.71. Coterra Energy has a 52-week low of $23.73 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.09. The firm had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. On average, equities analysts expect that Coterra Energy will post 2.02 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on CTRA. Citigroup boosted their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Friday, May 24th. Morgan Stanley boosted their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the company an “equal weight” rating in a research note on Wednesday, April 17th. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd. Piper Sandler boosted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 14th. Finally, Susquehanna boosted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a research note on Tuesday, May 7th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $33.94.

Coterra Energy Company Profile

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.