Equities Analysts Issue Forecasts for Coterra Energy Inc.’s Q3 2024 Earnings (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) – Research analysts at Capital One Financial dropped their Q3 2024 earnings per share (EPS) estimates for Coterra Energy in a research report issued on Tuesday, September 17th. Capital One Financial analyst B. Velie now forecasts that the company will earn $0.34 per share for the quarter, down from their previous forecast of $0.51. The consensus estimate for Coterra Energy’s current full-year earnings is $1.95 per share. Capital One Financial also issued estimates for Coterra Energy’s Q4 2024 earnings at $0.43 EPS, FY2024 earnings at $1.63 EPS, Q1 2025 earnings at $0.59 EPS, Q2 2025 earnings at $0.49 EPS, Q3 2025 earnings at $0.47 EPS, Q4 2025 earnings at $0.48 EPS and FY2025 earnings at $2.03 EPS.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. During the same period last year, the company posted $0.38 EPS. The business’s revenue was up 7.3% on a year-over-year basis.

Several other equities analysts have also recently commented on the company. BMO Capital Markets upgraded Coterra Energy to a “hold” rating in a research report on Wednesday, July 3rd. Wolfe Research began coverage on shares of Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price objective on the stock. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. Roth Mkm raised shares of Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Finally, Piper Sandler lowered their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.59.

Coterra Energy Trading Up 0.4 %

Coterra Energy stock opened at $23.66 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The stock has a market cap of $17.61 billion, a P/E ratio of 13.68, a PEG ratio of 1.16 and a beta of 0.22. The firm’s fifty day moving average price is $24.42 and its 200-day moving average price is $26.39.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.55%. Coterra Energy’s payout ratio is 48.55%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after purchasing an additional 407,244 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Coterra Energy by 8.7% during the fourth quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after acquiring an additional 628,132 shares in the last quarter. King Luther Capital Management Corp raised its holdings in shares of Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after acquiring an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its stake in Coterra Energy by 1.0% in the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock worth $135,055,000 after acquiring an additional 51,249 shares during the period. Finally, American Century Companies Inc. boosted its holdings in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after acquiring an additional 1,013,107 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.