Coterra Energy (NYSE:CTRA) Announces Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Coterra Energy (NYSE:CTRA) announced its quarterly earnings results on Monday. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09, Briefing.com reports. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the company posted $0.51 earnings per share. Coterra Energy’s revenue for the quarter was up 32.9% on a year-over-year basis.

Coterra Energy Trading Down 7.4 %

CTRA traded down $1.88 during trading hours on Tuesday, reaching $23.39. The company’s stock had a trading volume of 8,287,286 shares, compared to its average volume of 6,216,330. The stock has a market cap of $17.87 billion, a PE ratio of 14.11, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business’s 50-day moving average is $26.58 and its 200-day moving average is $26.41.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.76%. Coterra Energy’s dividend payout ratio is currently 58.28%.

Wall Street Analyst Weigh In

Several research firms recently commented on CTRA. Johnson Rice upgraded shares of Coterra Energy from a “hold” rating to an “accumulate” rating and raised their price target for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Scotiabank cut their price target on Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating for the company in a research note on Friday, April 11th. Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Susquehanna reduced their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a research note on Tuesday, April 22nd. Finally, Piper Sandler boosted their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a report on Thursday, March 6th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $33.85.

Insiders Place Their Bets

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the transaction, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

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.