Coterra Energy Inc (CTRA) released its Q3 2024 Earnings Call Report, recording solid production and returns for shareholders. The report surpassed expectations despite the company's stock underperforming when compared to competitors on some trading days. Mizuho raised Coterra's price target from $36 to $37, reflecting a positive outlook. The company announced a quarterly dividend of $0.21 and promised to issue it soon. However, Coterra's earnings fell short of estimates, implying a 2.1% share price move post-earnings. Despite the earnings miss, some analysts continue to rate Coterra as a lucrative value stock with high consensus ROE. Investors raised concerns due to some insiders selling shares, but Mirae Asset Global Investments Co. Ltd. and others increased their holdings. The State of Alaska Department of Revenue trimmed its stake in Coterra, but revenue forecasts remain strong with projections for Q4 and revisions for 2024 showing promising results. A 10-year U.S. deal with Centrica to ramp up natural gas purchases was also clinched. Long-term investors who invested three years ago have seen a return of 95%.
Coterra Energy CTRA News Analytics from Thu, 22 Feb 2024 08:00:00 GMT to Sat, 02 Nov 2024 12:40:07 GMT -
Rating 7
- Innovation 4
- Information 8
- Rumor 2
