Coterra Energy Inc

CTRA

Equity

ISIN US1270971039 / Valor 915498

New York Stock Exchange, Inc (2024-12-24)

USD 24.73+2.78%

Coterra Energy Inc
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About company

Coterra Energy Inc is a premier, diversified energy company with top-tier assets onshore in the United States, boasting a multi-decade inventory of highly capital efficient drilling opportunities. The company's commodity and asset diversification help mitigate volatility and enable counter cyclical investment and returns to support long-term value creation. Coterra is well positioned to deliver superior and sustainable returns, with a focus on weathering industry cycles through flexibility between the best oil and natural gas assets in the country.

Summarized from source with an LLMView SourceSector: Energy

Revenue Overview

In the third quarter of 2024, Coterra Energy Inc reported operating revenues of $1,359 million, which is a slight increase from the $1,356 million reported in the same quarter of 2023. The revenue was primarily driven by oil sales amounting to $765 million, natural gas sales of $320 million, and NGL sales of $186 million.

Net Income and Earnings Per Share

Coterra Energy Inc's net income for the third quarter of 2024 was $252 million, down from $323 million in the third quarter of 2023. The earnings per share (EPS) for the quarter were $0.34, compared to $0.43 in the same period last year, reflecting a decrease in profitability.

Operating Expenses

During the third quarter of 2024, Coterra Energy Inc's operating expenses totaled $1,035 million, up from $939 million in the third quarter of 2023. The increase was mainly due to higher costs in direct operations and depreciation, depletion, and amortization expenses.

Cash Flow and Capital Expenditures

Coterra Energy Inc generated $755 million in net cash from operating activities in the third quarter of 2024, slightly down from $758 million in the same quarter of 2023. The company invested $393 million in capital expenditures for drilling, completion, and other fixed asset additions during the quarter.

Financial Outlook

Looking ahead, Coterra Energy Inc remains focused on maintaining a strong balance sheet and optimizing its capital allocation. The company continues to manage its financial commodity derivatives to mitigate market volatility and support its financial performance in future quarters.

Summarized from source with an LLMView Source

Key figures

-4.07%1Y

27.5%3Y

41.8%5Y

Performance

23.2%1Y

34.9%3Y

39.5%5Y

Volatility