Coterra Energy Inc. (CTRA) to Issue Quarterly Dividend of $0.21 on November 27th

Coterra Energy Inc. (NYSE:CTRA) declared a quarterly dividend on Thursday, October 31st,NASDAQ Dividends reports. Stockholders of record on Thursday, November 14th will be paid a dividend of 0.21 per share on Wednesday, November 27th. This represents a $0.84 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Thursday, November 14th.

Coterra Energy has raised its dividend by an average of 26.0% per year over the last three years. Coterra Energy has a payout ratio of 34.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Coterra Energy to earn $2.25 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 37.3%.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $25.42 on Tuesday. The stock has a 50 day simple moving average of $23.77 and a 200-day simple moving average of $25.54. The company has a market cap of $18.72 billion, a price-to-earnings ratio of 15.31, a price-to-earnings-growth ratio of 1.59 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $28.90.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Coterra Energy’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts forecast that Coterra Energy will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial reduced their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays dropped their price target on shares of Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, October 3rd. Mizuho upped their target price on Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Finally, UBS Group decreased their target price 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. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.29.

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.