Coterra Energy (CTRA) Update - Jan 23

[dan_s]

My updated forecast for CTRA has been posted to the EPG Website. My current valuation is $31.00.

At the time of this post CTRA was trading at $24.44.

TipRanks: "In the last 3 months, 13 ranked analysts set 12-month price targets for CTRA. The average price target among the analysts is $32.31. The 13 price targets range from $27 to $39."

CTRA should generate over $1.5 billion of free cash flow from operations in 2024.

Based on my forecast, 2024 dividends should total ~$1.50. Recently the Company has focused more on stock buybacks, reducing their dividends to $0.20/Qtr.

Production mix is approximately 71% natural gas, 15% crude oil and 14% NGLs. ~58% of their revenues will be from liquid sales in Q4 2023.

You can download the CTRA forecast model directly from the EPG website.