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. Shareholders of record on Thursday, August 15th will be paid a dividend of 0.21 per share on Thursday, August 29th. This represents a $0.84 dividend on an annualized basis and a 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 dividend payout ratio of 28.5% meaning 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 Trading Down 5.1 %

CTRA traded down $1.29 during mid-day trading on Friday, hitting $24.11. The stock had a trading volume of 13,521,471 shares, compared to its average volume of 5,338,893. The stock’s fifty day simple moving average is $26.87 and its 200-day simple moving average is $26.71. 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 firm has a market capitalization of $17.94 billion, a price-to-earnings ratio of 13.94, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. Coterra Energy has a 1-year low of $23.73 and a 1-year 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 company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.38 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. As a group, research analysts forecast that Coterra Energy will post 2.02 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on CTRA shares. Morgan Stanley increased their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 17th. Susquehanna increased their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the stock a “positive” rating in a report on Tuesday, May 7th. Barclays initiated coverage on shares of Coterra Energy in a report on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective on the stock. Scotiabank raised their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Bank of America restated a “buy” rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average target price 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.