Coterra Energy Inc. (CTRA) To Go Ex-Dividend on May 15th

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Thursday, May 2nd, Wall Street Journal reports. Investors of record on Thursday, May 16th will be given a dividend of 0.21 per share on Thursday, May 30th. This represents a $0.84 annualized dividend and a yield of 2.98%. The ex-dividend date is Wednesday, May 15th.

Coterra Energy has raised its dividend by an average of 26.0% annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Coterra Energy has a payout ratio of 29.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Coterra Energy to earn $2.82 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 29.8%.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $28.19 on Friday. The stock has a market capitalization of $21.19 billion, a P/E ratio of 16.29 and a beta of 0.22. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. Coterra Energy has a 1-year low of $22.91 and a 1-year high of $29.89. The business has a 50-day moving average price of $27.30 and a two-hundred day moving average price of $26.40.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 23.34% and a return on equity of 10.80%. The business had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. Equities analysts predict that Coterra Energy will post 1.82 earnings per share for the current year.

Insider Activity

In related news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CAO Todd M. Roemer sold 55,000 shares of Coterra Energy stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the transaction, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at approximately $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Michael D. Deshazer sold 14,000 shares of Coterra Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Raymond James lifted their price objective on shares of Coterra Energy from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. Morgan Stanley lifted their price target on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 17th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Scotiabank lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a report on Thursday, April 11th. Finally, Mizuho increased their price target on Coterra Energy from $34.00 to $37.00 and gave the stock a “buy” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.67.

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.