Coterra Energy (NYSE:CTRA) Releases Earnings Results, Misses Estimates By $0.02 EPS

Coterra Energy (NYSE:CTRA) announced its quarterly earnings data on Monday. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02), Briefing.com reports. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm had revenue of $558.00 million during the quarter, compared to the consensus estimate of $1.83 billion. During the same period last year, the business earned $0.32 EPS. The business’s revenue was up 33.7% on a year-over-year basis.

Coterra Energy Price Performance

Shares of NYSE:CTRA opened at $24.40 on Tuesday. The firm has a 50 day moving average of $23.77 and a 200-day moving average of $24.42. The stock has a market capitalization of $18.62 billion, a PE ratio of 11.67, a PEG ratio of 0.36 and a beta of 0.29. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. Coterra Energy has a 12 month low of $22.33 and a 12 month high of $29.95.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be given a $0.22 dividend. The ex-dividend date is Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.6%. Coterra Energy’s payout ratio is presently 42.11%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Frontier Capital Management Co. LLC raised its position in shares of Coterra Energy by 9.4% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 12,630 shares of the company’s stock valued at $321,000 after buying an additional 1,085 shares in the last quarter. Westwood Holdings Group Inc. raised its position in shares of Coterra Energy by 18.9% in the 2nd quarter. Westwood Holdings Group Inc. now owns 11,268 shares of the company’s stock valued at $286,000 after buying an additional 1,794 shares in the last quarter. MUFG Securities EMEA plc bought a new stake in shares of Coterra Energy during the 2nd quarter valued at approximately $57,000. EverSource Wealth Advisors LLC grew its holdings in shares of Coterra Energy by 72.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company’s stock valued at $141,000 after purchasing an additional 2,328 shares during the last quarter. Finally, Snowden Capital Advisors LLC grew its holdings in shares of Coterra Energy by 9.8% during the 2nd quarter. Snowden Capital Advisors LLC now owns 28,734 shares of the company’s stock valued at $729,000 after purchasing an additional 2,556 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of research reports. Susquehanna cut their target price on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. The Goldman Sachs Group cut their target price on shares of Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Mizuho cut their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a research note on Monday, September 15th. Wells Fargo & Company raised their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a research note on Thursday, August 14th. Finally, Zacks Research cut shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.30.

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.