Coterra Energy has recently
secured $1.5B in debt funding to aid strategic acquisitions, escalating its presence in the Permian. This move is being met with mixed responses from various asset management firms, ranging from increasing stakes to trimming their positions. The company has now become the exclusive
energy holding in Jim Cramer's Charitable Trust due to its potential future growth. Following this, several notable acquisitions have been announced by Coterra Energy. In particular, the deal worth
$3.95 bln to expand in the Permian has caught the attention. Analysts from JP Morgan have adjusted Coterra’s price target to $31 from the previous $29. The senior notes issued by the company were also increased to
$1.5 billion. Meanwhile, financial prospects look decent even though Coterra's stock has shown relative weakness recently. Besides, the quarterly earnings for Coterra Energy fell below
Q3 predictions, and its EPS missed estimates by 22%. However, the company has reaffirmed its
dividend of $0.21 which could be a safety measure for investors.
Coterra Energy CTRA News Analytics from Thu, 06 Jun 2024 07:00:00 GMT to Sat, 07 Dec 2024 09:21:52 GMT -
Rating -2
- Innovation 3
- Information 8
- Rumor 0
