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/Mis Actual Consensu

s s

Estimate

Q3 Miss $0.41 $0.44

Adjusted (22

EPS Analysts

)

Q3 EPS $0.42

Q3 Miss $312 mln $364.69

Adjusted mln (13

Net Analysts

Income )

Q3 Net $322 mln

Income

Q3 Free $971 mln

Cash

Flow

Q3 $0.22

Dividend

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 ( CTRA ) 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:

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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.)