Overview
Coterra Q3 adjusted EPS and net income missed analyst expectations
Company declared Q3 dividend of $0.22 per share, totaling $168 mln
Coterra repaid $250 mln of term loans, resumed share repurchases
Outlook
Coterra increases 2025 total equivalent production guidance to 772-782 MBoepd
Company expects 2025 capital expenditures (non-GAAP) around $2.3 bln
Coterra anticipates 2026 capital expenditures to be modestly down from 2025
Result Drivers
PERMIAN PROGRAM - Nine-rig program in the Permian Basin is capital efficient and generating strong returns, per CEO Tom Jorden
DIVERSIFIED ASSET BASE - High-quality asset portfolio provides strong returns across price cycles, driven by quality of rock and low cost structure
PRODUCTION NEAR GUIDANCE - Total BOE, natural gas, and oil production neared high-end of guidance ranges, exceeding mid-points by 2.5%
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Adjusted EPS | Miss | $0.41 | $0.44 (22 Analysts) |
Q3 EPS | $0.42 | ||
Q3 Adjusted Net Income | Miss | $312 mln | $364.69 mln (13 Analysts) |
Q3 Net Income | $322 mln | ||
Q3 Free Cash Flow | $971 mln | ||
Q3 Dividend | $0.22 |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 4 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the oil & gas exploration and production peer group is "buy"
Wall Street's median 12-month price target for Coterra Energy Inc is $33.00, about 28.3% above its October 31 closing price of $23.66
The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nBw3W187Sa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)