Coterra Energy (CTRA)
NYSE:CTRA
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Coterra Energy
(NYSE:CTRA)
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Rating:77Outperform
Price Target:
$38.00
▲(13.74% Upside)
Action:ReiteratedDate:04/03/26
The score is driven primarily by strong financial resilience (low leverage and solid, consistently positive cash generation) and supportive technical momentum (price above key moving averages with positive MACD). Valuation is reasonable (mid-teens/low-teens earnings multiple with a moderate dividend), and corporate events add upside optionality as the Devon merger advances with stated synergy and capital-return benefits.
Positive Factors
Strong balance sheet
Coterra’s materially de-levered balance sheet (debt-to-equity near 0.01 in 2025 after multi-year improvement) provides durable financial flexibility. Low leverage supports capital allocation optionality—sustaining capex through cycles, funding shareholder returns, absorbing commodity shocks, and enabling strategic M&A without balance-sheet strain.
Negative Factors
Commodity-driven revenue volatility
As a U.S. onshore E&P, Coterra’s profitability and revenue remain tightly tied to commodity prices and regional basis differentials. The documented sharp revenue swings reduce earnings visibility and make multi-year planning for capex, dividends, and buybacks uncertain, exposing returns to prolonged commodity downturns.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong balance sheet
Coterra’s materially de-levered balance sheet (debt-to-equity near 0.01 in 2025 after multi-year improvement) provides durable financial flexibility. Low leverage supports capital allocation optionality—sustaining capex through cycles, funding shareholder returns, absorbing commodity shocks, and enabling strategic M&A without balance-sheet strain.
Read all positive factors
Coterra Energy (CTRA) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$25.42B
Dividend Yield3.39%
Average Volume (3M)10.68M
Price to Earnings (P/E)11.7
Beta (1Y)0.30
Revenue Growth26.13%
EPS Growth31.42%
CountryUS
Employees915
SectorEnergy
Sector Strength52
IndustryOil & Gas Exploration & Production
Share Statistics
EPS (TTM)0.39
Shares Outstanding759,352,600
10 Day Avg. Volume7,001,672
30 Day Avg. Volume10,677,385
Financial Highlights & Ratios
PEG Ratio0.24
Price to Book (P/B)1.35
Price to Sales (P/S)7.28
P/FCF Ratio12.26
Enterprise Value/Market Cap1.15
Enterprise Value/Revenue3.98
Enterprise Value/Gross Profit10.98
Enterprise Value/Ebitda6.05
Forecast
1Y Price Target
$36.83Price Target Upside10.24% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering14
EPS Forecast (FY)2.7
Revenue Forecast (FY)$8.16B
Coterra Energy Business Overview & Revenue Model
Company Description
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. It primarily focuses on the Marcellus Shale with approximately 177,0...
How the Company Makes Money
Coterra primarily makes money by producing and selling hydrocarbons—natural gas, crude oil, and NGLs—into U.S. commodity markets. Its revenue model is largely volume (production) multiplied by realized prices, with realized prices influenced by be...
Coterra Energy Key Performance Indicators (KPIs)
Any
Operating Revenue by Segment
Breaks down revenue from different business segments, revealing which areas drive growth and profitability, and where strategic adjustments might be needed.
Breaks down revenue from different business segments, revealing which areas drive growth and profitability, and where strategic adjustments might be needed.
Data provided by:
The Fly
The FlyCoterra Energy Earnings Call Summary
Earnings Call Date:Nov 03, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Apr 30, 2026
Earnings Call Sentiment Positive
Coterra Energy delivered strong third quarter results, exceeding production expectations and integrating recent acquisitions effectively. Financial performance was robust, with significant cash flow and debt reduction achievements. However, increased operating costs and challenges with gas prices were noted. The public dispute with Kimmeridge introduces some external pressure on the company's strategic direction.Positive Updates
Strong Third Quarter Performance
Coterra's oil, natural gas, and BOE production each came in approximately 2.5% above the midpoint of guidance, with NGL production hitting an all-time high of 136 MBoe per day. Oil volumes increased by 7% over second quarter levels with a substantial uptick of 11,300 barrels per day.
Negative Updates
Increased Operating Costs
Cash operating costs increased to $9.81 per BOE, up 5% quarter-over-quarter due to production mix and higher workover activity.
Read all updates
Q3-2025 Updates
Positive
Negative
Strong Third Quarter Performance
Coterra's oil, natural gas, and BOE production each came in approximately 2.5% above the midpoint of guidance, with NGL production hitting an all-time high of 136 MBoe per day. Oil volumes increased by 7% over second quarter levels with a substantial uptick of 11,300 barrels per day.
Read all positive updates
Company Guidance
During the Coterra Energy Third Quarter 2025 Earnings Call, guidance was provided that highlighted several key metrics and strategic directions. The company reported that oil, natural gas, and BOE production came in approximately 2.5% above the midpoint of guidance, with NGL production reaching an all-time high of around 136 MBoe per day. For the fourth quarter, oil production is expected to be 175 MBoe per day at the midpoint, while total production is anticipated to average between 770 and 810 MBoe per day. Natural gas production is projected between 2.78 and 2.93 Bcf per day. Coterra expects capital expenditures for the quarter to be around $530 million, reflecting a significant decrease from the third quarter. For the full year 2025, guidance was revised to an annual MBoe per day production of 777 at the midpoint, a 5% increase from earlier forecasts. The company plans to deliver a comprehensive updated 3-year outlook with its fourth quarter release in February and expects 2026 capital to be modestly down year-over-year while maintaining production parameters. Additionally, Coterra highlighted its commitment to growing revenue, cash flow, free cash flow, and profitability, with an emphasis on maintaining low breakevens and operational flexibility.Coterra Energy Financial Statement Overview
Summary
Income Statement
66
Positive
Balance Sheet
82
Very Positive
Cash Flow
74
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.75B | 5.46B | 5.68B | 9.51B | 3.67B |
| Gross Profit | 1.66B | 1.69B | 2.20B | 6.07B | 2.06B |
| EBITDA | 4.84B | 3.30B | 3.84B | 6.87B | 2.26B |
| Net Income | 1.72B | 1.12B | 1.63B | 4.07B | 1.16B |
Balance Sheet | |||||
| Total Assets | 24.46B | 21.63B | 20.41B | 20.15B | 19.90B |
| Cash, Cash Equivalents and Short-Term Investments | 119.00M | 2.04B | 956.00M | 673.00M | 1.04B |
| Total Debt | 4.01B | 3.80B | 2.53B | 2.60B | 3.46B |
| Total Liabilities | 9.61B | 8.50B | 7.38B | 7.50B | 8.16B |
| Stockholders Equity | 14.85B | 13.12B | 13.04B | 12.66B | 11.74B |
Cash Flow | |||||
| Free Cash Flow | 1.63B | 1.02B | 1.56B | 3.75B | 939.00M |
| Operating Cash Flow | 4.02B | 2.79B | 3.66B | 5.46B | 1.67B |
| Investing Cash Flow | -5.63B | -1.76B | -2.06B | -1.67B | 313.00M |
| Financing Cash Flow | -551.00M | 279.00M | -1.32B | -4.14B | -1.09B |
Coterra Energy Technical Analysis
Neutral
33.41
Price Trends
31.91
Positive
28.96
Positive
26.35
Positive
Market Momentum
0.68
Positive
50.31
Neutral
36.25
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CTRA, the sentiment is Neutral. The current price of 33.41 is below the 20-day moving average (MA) of 34.22, above the 50-day MA of 31.91, and above the 200-day MA of 26.35, indicating a neutral trend. The MACD of 0.68 indicates Positive momentum. The RSI at 50.31 is Neutral, neither overbought nor oversold. The STOCH value of 36.25 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for CTRA.
Coterra Energy Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $25.42B | 11.67 | 11.77% | 3.39% | 26.13% | 31.42% | |
77 Outperform | $36.67B | 16.42 | 9.16% | 1.17% | 64.84% | 219.47% | |
75 Outperform | $29.70B | 10.12 | 17.47% | 2.64% | 11.14% | -21.32% | |
74 Outperform | $11.69B | 16.82 | 8.63% | ― | 17.05% | 1028.81% | |
72 Outperform | $15.89B | 8.12 | 11.86% | 3.16% | -8.07% | -87.88% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
54 Neutral | $5.16B | 17.04 | 16.88% | ― | 35.41% | ― |
* Energy Sector Average
CTRA
Coterra Energy
33.41
9.03
37.02%
CRK
Comstock Resources
17.56
-1.51
-7.92%
DVN
Devon Energy
47.79
19.79
70.65%
OVV
Ovintiv
56.09
24.68
78.56%
EQT
EQT
58.68
9.30
18.82%
AR
Antero Resources
37.89
4.66
14.02%
Coterra Energy Corporate Events
Business Operations and StrategyM&A TransactionsRegulatory Filings and Compliance
Coterra Energy Moves Closer to Devon Merger Completion
Positive
Apr 2, 2026
On February 1, 2026, Coterra Energy Inc. agreed to be acquired by Devon Energy Corporation through a merger in which a Devon subsidiary will merge into Coterra, leaving Coterra as a wholly owned Devon unit. The transaction continues to advance, wi...
Business Operations and StrategyDividendsFinancial DisclosuresM&A Transactions
Coterra Energy Announces All-Stock Merger With Devon Energy
Positive
Feb 27, 2026
Coterra Energy reported that its fourth-quarter and full-year 2025 results exceeded production guidance on key metrics, with total and gas volumes beating the high end and oil meeting the midpoint, while cash flow from operating activities reached...
Business Operations and StrategyExecutive/Board ChangesStock BuybackDividendsM&A Transactions
Coterra Energy to Merge with Devon Energy
Positive
Feb 2, 2026
On February 1, 2026, Coterra Energy agreed to merge with Devon Energy in an all-stock transaction that will combine the two U.S. shale producers into a single large-cap operator named Devon Energy, with Coterra shareholders receiving 0.70 Devon sh...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.