Coterra Energy Inc. Declares Quarterly Dividend of $0.21 (NYSE:CTRA)

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Thursday, October 31st, NASDAQ reports. Investors of record on Thursday, November 14th will be given a dividend of 0.21 per share on Wednesday, November 27th. This represents a $0.84 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date of this dividend is Thursday, November 14th.

Coterra Energy has increased its dividend by an average of 26.0% annually over the last three years. Coterra Energy has a dividend payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Research analysts expect Coterra Energy to earn $2.34 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 35.9%.

Coterra Energy Price Performance

Shares of CTRA stock traded down $1.21 during trading hours on Friday, hitting $22.71. 12,080,512 shares of the company’s stock were exchanged, compared to its average volume of 6,230,813. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90. The company has a market capitalization of $16.79 billion, a PE ratio of 12.94, a PEG ratio of 1.49 and a beta of 0.22. The business’s 50 day simple moving average is $23.82 and its 200-day simple moving average is $25.73. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the firm posted $0.38 EPS. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Coterra Energy will post 1.62 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group dropped their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Barclays cut their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Piper Sandler cut their target price on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $31.24.

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.