Q3 2022 EPS Estimates for Coterra Energy Inc. Lifted by Analyst (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA – Get Rating) – Equities researchers at Seaport Res Ptn boosted their Q3 2022 earnings per share estimates for Coterra Energy in a research report issued on Tuesday, April 19th. Seaport Res Ptn analyst N. Pope now anticipates that the company will earn $1.40 per share for the quarter, up from their previous forecast of $1.12. Seaport Res Ptn also issued estimates for Coterra Energy’s Q4 2022 earnings at $1.51 EPS and FY2022 earnings at $4.92 EPS.

Coterra Energy (NYSE:CTRA – Get Rating) last announced its quarterly earnings results on Wednesday, February 23rd. The company reported $0.83 EPS for the quarter, missing the Zacks’ consensus estimate of $1.02 by ($0.19). The firm had revenue of $2.23 billion for the quarter, compared to analyst estimates of $1.81 billion. Coterra Energy had a net margin of 33.58% and a return on equity of 23.16%. The business’s revenue for the quarter was up 387.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.25 earnings per share.

CTRA has been the subject of several other research reports. Morgan Stanley boosted their price objective on Coterra Energy from $25.00 to $30.00 and gave the company an “equal weight” rating in a report on Friday. Piper Sandler upped their price target on Coterra Energy from $26.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday, April 7th. Barclays upped their price target on Coterra Energy from $29.00 to $35.00 in a report on Tuesday. Mizuho upped their price target on Coterra Energy from $38.00 to $44.00 and gave the stock a “buy” rating in a report on Friday, April 8th. Finally, Zacks Investment Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a report on Monday, April 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Hold” and an average price target of $31.82.

Coterra Energy stock opened at $28.96 on Thursday. The firm has a market cap of $23.49 billion, a P/E ratio of 16.84, a P/E/G ratio of 0.17 and a beta of -0.17. The stock’s 50 day moving average is $26.10 and its 200 day moving average is $22.82. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.75 and a quick ratio of 1.72. Coterra Energy has a one year low of $14.28 and a one year high of $31.42.

Several institutional investors have recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. bought a new position in shares of Coterra Energy during the 1st quarter valued at about $24,022,000. Copeland Capital Management LLC purchased a new stake in Coterra Energy during the 1st quarter valued at about $19,085,000. Truist Financial Corp purchased a new stake in Coterra Energy during the 1st quarter valued at about $16,600,000. CHURCHILL MANAGEMENT Corp purchased a new stake in Coterra Energy during the 1st quarter valued at about $11,873,000. Finally, Retirement Systems of Alabama purchased a new stake in Coterra Energy during the 1st quarter valued at about $11,510,000. Hedge funds and other institutional investors own 66.13% of the company’s stock.

In other Coterra Energy news, CEO Thomas E. Jorden bought 40,000 shares of the firm’s stock in a transaction on Monday, February 28th. The shares were acquired at an average cost of $23.17 per share, for a total transaction of $926,800.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Todd M. Roemer sold 69,385 shares of the company’s stock in a transaction dated Friday, March 4th. The stock was sold at an average price of $26.11, for a total value of $1,811,642.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 144,385 shares of company stock worth $3,825,792. 1.60% of the stock is currently owned by corporate insiders.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Investors of record on Monday, March 7th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.07%. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 4th. Coterra Energy’s payout ratio is presently 34.88%.

About Coterra Energy (Get Rating)

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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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