Coterra Energy Inc.
- Open
- 32.56
- Day high
- 32.56
- Day low
- 32.56
- Prev close
- 32.56
- Volume
- 0
- Mkt cap
- $24.7B
- P/E (TTM)
- 14.9
- EPS (TTM)
- $2.18
- P/B
- 1.6
- P/S
- 3.2
- Yield
- 1.35%
- Per share
- $0.44
Coterra Energy Inc. (CTRA) is a Energy company listed on NYSE. The stock is up 41% over the past year. Drillr has 1 published research article covering CTRA.
Coterra Energy Inc. (CTRA) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
CTRA earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 4, 2026 | $0.92 | $0.78 | -15.5% | $1.9B | -13.4% |
| Oct 31, 2024 | $0.34 | $0.32 | -5.9% | $1.4B | +5.8% |
| Aug 1, 2024 | $0.39 | $0.37 | -5.1% | $1.3B | -1.8% |
| May 2, 2024 | $0.41 | $0.51 | +24.4% | $1.4B | -1.5% |
| Feb 22, 2024 | $0.55 | $0.52 | -5.5% | $1.4B | -6.5% |
| May 4, 2023 | $0.70 | $0.87 | +24.3% | $1.8B | +1.4% |
| Feb 22, 2023 | $1.13 | $1.16 | +2.5% | $2.3B | +10.2% |
| Nov 3, 2022 | $1.38 | $1.42 | +2.7% | $2.5B | +6.1% |
| Aug 2, 2022 | $1.22 | $1.35 | +10.4% | $2.6B | +18.2% |
| May 2, 2022 | $0.82 | $1.01 | +22.9% | $1.7B | -4.6% |
| Feb 23, 2022 | $1.01 | $0.83 | -18.0% | $2.2B | +20.1% |
| Nov 3, 2021 | $0.53 | $0.52 | -1.9% | $440M | -0.0% |
CTRA insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| May 11, 2026 | JORDEN THOMAS Edirector, officer: CEO and President | Tax | 75,211 | $32.56 |
| May 11, 2026 | JORDEN THOMAS Edirector, officer: CEO and President | Option | 191,132 | — |
| May 11, 2026 | Vela Adam Mofficer: SVP & General Counsel | Option | 28,670 | — |
| May 11, 2026 | Alexander Andreaofficer: SVP & Chief HR Officer | Option | 38,227 | — |
| May 11, 2026 | Young, III Shannon E.officer: EVP & Chief Financial Officer | Tax | 28,206 | $32.56 |
| May 11, 2026 | Alexander Andreaofficer: SVP & Chief HR Officer | Tax | 27,224 | $32.56 |
| May 11, 2026 | Smith Kevin Williamofficer: SVP & Chief Technology Officer | Tax | 12,035 | $32.56 |
| May 11, 2026 | Smith Kevin Williamofficer: SVP & Chief Technology Officer | Option | 30,582 | — |
| May 11, 2026 | DeShazer Michael D.officer: EVP - Operations | Option | 30,582 | — |
| May 11, 2026 | Vela Adam Mofficer: SVP & General Counsel | Tax | 11,283 | $32.56 |
| May 11, 2026 | Alexander Andreaofficer: SVP & Chief HR Officer | Tax | 15,043 | $32.56 |
| May 11, 2026 | SIRGO BLAKE Aofficer: EVP - Business Units | Tax | 12,035 | $32.56 |
| May 11, 2026 | SIRGO BLAKE Aofficer: EVP - Business Units | Option | 30,582 | — |
| May 11, 2026 | DeShazer Michael D.officer: EVP - Operations | Tax | 12,035 | $32.56 |
| May 11, 2026 | Young, III Shannon E.officer: EVP & Chief Financial Officer | Option | 71,675 | — |
Source: CTRA SEC Form 4 filings, latest May 11, 2026. For informational purposes only — not investment advice.
See the full CTRA insider & 13F page →Coterra Energy Inc. company profile
Overview
Coterra Energy Inc. (NYSE:CTRA) is an independent oil and gas exploration and production company founded in 1989 and headquartered in Houston, Texas. The company went public in 1990 and has evolved into a major player in the U.S. energy sector through strategic acquisitions and operational development. Coterra operates primarily across three key shale basins: the Marcellus Shale in Pennsylvania, the Permian Basin in Texas, and the Anadarko Basin in Oklahoma, with a combined acreage position of approximately 665,000 net acres. The company has established itself as a significant producer of oil, natural gas, and natural gas liquids, with proved reserves of approximately 2.9 billion barrels of oil equivalent as of 2021.
Business
Coterra Energy operates in the upstream oil and gas industry, which involves the exploration, development, and production of crude oil, natural gas, and natural gas liquids (NGLs) from underground reservoirs. The upstream sector is the first stage of the oil and gas value chain, preceding midstream (transportation and storage) and downstream (refining and marketing) operations. The company's operations are concentrated in three major unconventional shale formations: 1. Marcellus Shale Operations (Pennsylvania) - Approximately 177,000 net acres focused on the dry gas window in Susquehanna County. The Marcellus Shale is one of the largest natural gas fields in the United States, formed from organic-rich sedimentary rock that requires hydraulic fracturing (fracking) to extract gas. This basin primarily produces natural gas with minimal oil content, making it highly sensitive to natural gas price fluctuations. 2. Permian Basin Operations (Texas) - Approximately 306,000 net acres in what is considered America's most prolific oil-producing region. The Permian Basin contains multiple productive formations including the Wolfcamp and other zones that yield a mix of oil, natural gas, and NGLs. This basin typically generates the highest margins due to oil's premium pricing over natural gas. 3. Anadarko Basin Operations (Oklahoma) - Approximately 182,000 net acres producing both oil and natural gas. This basin serves as a complementary asset providing operational diversification and additional drilling inventory. Based on recent financial data, approximately 75% of Coterra's pre-hedge revenues come from oil and NGL sales, with the remaining 25% from natural gas sales, though this mix varies with commodity price cycles and production allocation decisions.
Revenue model
Coterra Energy generates revenue through the direct sale of produced hydrocarbons to various market participants. The company sells its oil, natural gas, and NGLs to industrial customers, local distribution companies, oil and gas marketers, major energy companies, pipeline companies, and power generation facilities. Revenue is directly tied to production volumes multiplied by prevailing commodity prices, minus transportation and processing costs. The business model is inherently capital intensive, requiring substantial upfront investments in drilling, completion, and infrastructure to develop wells that then produce hydrocarbons over multiple years. Coterra typically spends $2.0-2.4 billion annually in capital expenditures for drilling and completion activities across its three basins. Several key factors significantly impact the company's profitability margins: Commodity Price Volatility represents the primary margin driver. Oil prices generally provide higher margins than natural gas, making the Permian Basin operations more profitable during oil price upturns. Natural gas price weakness has led Coterra to curtail Marcellus production and reduce capital allocation to that basin. Operational Efficiency Improvements directly enhance margins through reduced per-unit development costs. Coterra has achieved significant cost reductions, including bringing Permian development costs down to $960 per foot and Marcellus costs to $800 per foot through technological improvements and operational optimization. Basin Allocation Flexibility allows the company to shift capital toward the highest-return opportunities. When natural gas prices are weak, Coterra can reduce Marcellus activity and increase Permian drilling, and vice versa. Transportation and Infrastructure Costs affect netback pricing, particularly for natural gas which requires pipeline access to markets. The company operates some gathering systems in Texas to capture additional value from its production. Hedging Activities can provide price protection but may limit upside participation during commodity price rallies, creating a trade-off between cash flow stability and profit maximization.
Competitive moat
Coterra Energy operates in a commodity-driven industry with limited sustainable competitive advantages, typical of most independent oil and gas producers. The company's primary defensive characteristics stem from operational execution rather than structural moats. Geographic Diversification across three major basins provides some competitive advantage by allowing capital reallocation based on commodity price cycles and basin-specific economics. This flexibility enables Coterra to optimize returns better than single-basin operators, though this advantage is not insurmountable as competitors can acquire acreage in multiple basins. Operational Scale and Efficiency in key basins creates modest advantages through economies of scale in drilling, completion, and infrastructure development. Coterra's large contiguous acreage positions allow for efficient development through techniques like simultaneous fracturing and row development, reducing per-unit costs. However, these operational advantages can be replicated by other large operators. Technical Expertise in unconventional drilling and completion provides temporary advantages, but technological innovations in the shale industry tend to disseminate quickly across operators, limiting the duration of any technical edge. The company faces significant competitive threats from larger integrated oil companies with superior balance sheets and lower capital costs, private equity-backed operators willing to accept lower returns, and technological disruption from renewable energy sources that could reduce long-term hydrocarbon demand. Regulatory and Environmental Risks pose ongoing challenges, as changing environmental policies could restrict drilling activities or increase compliance costs. The industry also faces long-term demand uncertainty as the global economy transitions toward renewable energy sources. Overall, Coterra's competitive position is moderately defensible in the near term but lacks strong structural moats that would protect against commodity cycles, competitive pressures, or long-term energy transition risks.
Risks & safety
Coterra Energy demonstrates a strong financial position with low leverage and substantial cash generation capability, providing meaningful downside protection for investors. • Debt and Solvency: Net debt-to-EBITDA ratio of approximately 0.3x with total debt of $1 billion term loan planned for full repayment in 2025. Current ratio of 0.90x indicates tight short-term liquidity, but strong operating cash flow generation of $1.1+ billion quarterly provides adequate coverage. • Cash Generation: Free cash flow of $635 million in Q1 2025 demonstrates strong cash generation even in moderate commodity price environments. The company targets returning 50%+ of free cash flow to shareholders while maintaining capital discipline. • Valuation Metrics: Trading at P/E ratio of 10.6x and EV/EBITDA of 4.5x, suggesting reasonable valuation relative to cash generation capabilities. Price-to-book ratio of 1.26x indicates modest premium to tangible assets. • Operational Flexibility: Ability to reduce capital expenditures quickly during downturns (demonstrated by $150 million Permian reduction and ability to curtail Marcellus activity) provides operational downside protection. • Commodity Price Sensitivity: Management indicated oil prices below $50 would trigger significant activity reductions, suggesting the business model remains viable above this threshold. • Reserve Base: 2.9 billion BOE of proved reserves provides substantial asset backing, though reserve valuations fluctuate with commodity prices.
Recent development
Over the past several years, Coterra has implemented a flexible capital allocation strategy designed to optimize returns across commodity cycles while maintaining financial discipline. The company has demonstrated its ability to pivot capital between basins based on relative economics, most notably reducing Marcellus investment by over $400 million during periods of weak natural gas prices while maintaining the ability to quickly ramp activity when conditions improve. Operational Excellence Initiatives have been a key focus, with the company achieving significant cost reductions across all basins. Permian development costs have been reduced to $960 per foot (6% reduction from 2024), while Marcellus costs have dropped to $800 per foot (22% reduction). These improvements stem from enhanced drilling efficiency, optimized completion designs, and innovative technologies like simultaneous fracturing. Strategic Acquisitions have expanded the company's position in high-return areas, including the Franklin Mountain and Avant acquisitions in the Permian Basin. These transactions have added quality acreage and enhanced the company's drilling inventory in its most profitable operating region. Technology and Innovation efforts include implementing tankless battery designs to reduce emissions, exploring electric simul-frac technologies, and developing large-scale row development projects like the 51-well Windham Row project in the Permian. The company has also been exploring co-development strategies to optimize production from multiple formations simultaneously. Market Diversification initiatives include executing long-term LNG sales commitments of 200,000 MMBtu per day with European and Asian markets starting in 2027-2028, providing more stable pricing for natural gas production. The company is also exploring downstream partnerships for power generation and data center applications. Shareholder Return Enhancement has been prioritized through increased dividend payments (base dividend raised to $0.22 per share) and substantial share buyback programs, with the company returning 89% of free cash flow in 2024 through dividends and repurchases.
CTRA company profile · for informational purposes only — not investment advice.
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