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

Coterra Energy Inc. (NYSE:CTRA) announced a quarterly dividend on Thursday, October 31st, NASDAQ reports. Shareholders 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 yield of 3.70%. The ex-dividend date is Thursday, November 14th.

Coterra Energy has increased its dividend payment by an average of 26.0% per year over the last three years. Coterra Energy has a payout ratio of 33.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Trading Down 5.1 %

Shares of NYSE:CTRA opened at $22.71 on Friday. The business’s 50 day moving average price is $23.79 and its 200-day moving average price is $25.70. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $28.90. The firm has a market capitalization of $16.79 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 1.49 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

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

Analyst Ratings Changes

A number of research firms recently weighed in on CTRA. Mizuho boosted their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Friday. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a research note on Thursday, September 12th. Scotiabank cut their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Finally, Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average price target of $31.24.

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.