Coterra Energy (CTRA) Scheduled to Post Earnings on Thursday

Coterra Energy (NYSE:CTRA) is scheduled to be issuing its quarterly earnings data after the market closes on Thursday, May 2nd. Analysts expect the company to announce earnings of $0.42 per share for the quarter. Parties interested in participating in the company’s conference call can do so using this link.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. On average, analysts expect Coterra Energy to post $2 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Coterra Energy Trading Down 3.6 %

Shares of CTRA stock opened at $27.36 on Wednesday. The stock’s fifty day moving average price is $27.22 and its two-hundred day moving average price is $26.40. The company has a market cap of $20.57 billion, a PE ratio of 12.79 and a beta of 0.21. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.18 and a current ratio of 1.21.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Thursday, March 14th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.07%. The ex-dividend date was Wednesday, March 13th. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. Coterra Energy’s dividend payout ratio (DPR) is currently 39.25%.

Insider Buying and Selling

In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the completion of the transaction, the vice president now directly owns 93,988 shares of the company’s stock, valued at approximately $2,449,327.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now directly owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTRA shares. Susquehanna raised their price objective on Coterra Energy from $30.00 to $32.00 and gave the company a “positive” rating in a report on Monday, April 22nd. Piper Sandler raised their price objective on Coterra Energy from $35.00 to $37.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Barclays started coverage on Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective on the stock. JPMorgan Chase & Co. raised their price objective on Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 4th. Finally, Bank of America raised Coterra Energy from a “neutral” rating to a “buy” rating and set a $31.00 price objective on the stock in a report on Friday, January 5th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $32.47.

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.