CTRA Research | Milton Maxwell

CTRA

Coterra Energy Inc.

25.30

-0.97-3.69%

Dec 16, 4:00:02 PM EST

Upcoming Earnings

Report date

-/-

Earnings Call Transcripts

This Quarter (Q1 '26)

No earnings call transcript available yet

Last Quarter (Q4 '25)

No earnings call transcript available

Key Stats

Market Cap

19.31B

P/E (TTM)

11.71

Basic EPS (TTM)

2.16

Dividend Yield

0.03%

Recent Filings

10-K

FY2025 results

2/27/26Feb 27, 2026

Coterra's FY2025 production surged 16% y/y to 782 MBoe/d, fueled by January Delaware Basin acquisitions adding 167 MMBoe of proved reserves, with Permian output hitting 357 MBoe/d (46% of total). Annual revenues climbed 40% to $7.6B on higher natgas prices ($2.47/Mcf, +41% y/y) despite softer oil ($64.35/Bbl, -13% y/y), driving net income to $1.7B ($2.24/share). Q4 momentum shone via 199.7 net wells turned in line (up from prior years), Permian capex at $1.6B, yet normalized post-acquisition rig activity. Balance sheet stays fortress-like with $114M cash, $2B revolver capacity, $140M buybacks, $0.88/share dividend; 2026 capex dips 3% to $2.25B midpoint for 174-208 net wells. Merger with Devon awaits Q2 2026 close. Pending deal risks stockholder approval.

8-K

Coterra 2025 results, Devon merger

2/26/26Feb 26, 2026

Coterra released strong 2025 results, generating $2.0B free cash flow (non-GAAP, reconciled) and boosting proved reserves 13% to 2,565 MMBoe, while issuing 2026 standalone guidance for 750-810 MBoepd and $2.25B capex. The all-stock Devon merger, announced February 2 at 0.70 Devon shares per Coterra share, targets Q2 2026 close with $1B annual synergies by 2027 end. Integration risks loom large.

8-K

Coterra-Devon merger announced

2/2/26Feb 2, 2026

Coterra signed a merger agreement with Devon on February 1, 2026; Coterra shareholders get 0.70 Devon shares per share, owning 46% of the combined firm. Coterra's board unanimously approved, eyeing Delaware Basin dominance while Devon shareholders hold 54%. Antitrust clearance required.

8-K

Q4 prices and hedges disclosed

1/21/26Jan 21, 2026

Coterra Energy disclosed Q4 2025 realized prices, with oil at $58.16/Bbl excluding hedges and $60.34/Bbl including, natural gas at $2.37/Mcf and $2.44/Mcf, and NGL steady at $15.63/Bbl. Derivatives delivered $57 million in net cash settlements. Figures await final close.

10-Q

Q3 FY2025 results

11/4/25Nov 4, 2025

Coterra's Q3 revenue jumped 34% y/y to $1,817M while operating income rose 44% to $471M, fueled by FME and Avant acquisitions closed Jan 2025 for $4.0B total consideration ($3.2B cash, $785M stock). Oil up 29% y/y to $984M, natural gas 62% to $519M on higher volumes and prices, yet DD&A climbed 30% to $619M from acquired assets. Diluted EPS held steady at $0.42 on 767M shares. Ops generated $3,051M YTD cash flow; FCF not disclosed in the 10-Q. Debt steady at $3.9B with $2.0B revolver availability, no covenant issues. Cash dipped to $98M post-deals. Permian Basin drives growth. Volatility in commodity prices looms.

About

Coterra Energy Inc., an independent oil and gas company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Permian Basin with approximately 2,97,000 net acres in west Texas and southeast, New Mexico; Marcellus Shale properties approximately 1,86,000 net acres located in Susquehanna County, Pennsylvania; and Anadarko Basin with approximately 1,81,000 net acres located in mid-continent region in Oklahoma. It also operates natural gas and saltwater gathering, and disposal systems in Texas. The company sells its natural gas to industrial customers, local distribution companies, oil and gas marketers, energy companies, pipeline companies, and power generation facilities. The company was incorporated in 1989 and is headquartered in Houston, Texas.

CEO

Mr. Thomas E. Jorden

IPO

2/8/1990

Website

https://www.coterra.com

Employees

915

Sector

Energy

Industry

Oil & Gas E&P