Earnings summaries and quarterly performance for Coterra Energy.
Executive leadership at Coterra Energy.
Thomas E. Jorden
Detailed
Chief Executive Officer and President
CEO
AM
Andrea M. Alexander
Detailed
Senior Vice President and Chief Human Resources Officer
GF
Gregory F. Conaway
Detailed
Vice President and Chief Accounting Officer
MD
Michael D. DeShazer
Detailed
Senior Vice President—Business Units
SE
Shannon E. Young III
Detailed
Executive Vice President and Chief Financial Officer
SP
Stephen P. Bell
Detailed
Executive Vice President—Business Development
Board of directors at Coterra Energy.
Research analysts who have asked questions during Coterra Energy earnings calls.
AJ
Arun Jayaram
JPMorgan Chase & Co.
6 questions for CTRA
Also covers: APA, AR, BKR +33 more
DD
David Deckelbaum
TD Cowen
5 questions for CTRA
Also covers: ALB, ALTM, APA +17 more
DW
Derrick Whitfield
Texas Capital
5 questions for CTRA
Also covers: AMTX, ARIS, BG +21 more
Neil Mehta
Goldman Sachs
5 questions for CTRA
Also covers: AESI, APA, AR +36 more
SG
Scott Gruber
Citigroup
5 questions for CTRA
Also covers: APA, BKR, BKV +24 more
Matthew Portillo
Tudor, Pickering, Holt & Co.
4 questions for CTRA
Also covers: DVN, EXE, MRO +1 more
NK
Nitin Kumar
Mizuho Securities USA
4 questions for CTRA
Also covers: AR, BKV, CNX +8 more
Betty Jiang
Barclays
3 questions for CTRA
Also covers: APA, AR, BKV +14 more
DL
Doug Leggate
Wolfe Research
3 questions for CTRA
Also covers: APA, AR, BP +21 more
Kalei Akamine
Bank of America
3 questions for CTRA
Also covers: COP, CRC, CRK +8 more
KA
Kaleinoheaokealaula Akamine
Bank of America
3 questions for CTRA
Also covers: AR, COP, CRC +8 more
LM
Leo Mariani
ROTH MKM
3 questions for CTRA
Also covers: APA, AR, CIVI +16 more
PC
Paul Cheng
Scotiabank
3 questions for CTRA
Also covers: APA, BP, CLNE +20 more
Phillip Jungwirth
BMO Capital Markets
3 questions for CTRA
Also covers: AR, CIVI, COP +17 more
JS
Joshua Silverstein
UBS Group AG
2 questions for CTRA
Also covers: AR, CHRD, COP +9 more
MP
Matt Portillo
TPH
2 questions for CTRA
Also covers: MRO, OXY
ND
Neal Dingmann
Truist Securities
2 questions for CTRA
Also covers: APA, CHRD, CIVI +33 more
CM
Charles Meade
Johnson Rice & Company L.L.C.
1 question for CTRA
Also covers: APA, BRY, COP +17 more
DG
Douglas George Blyth Leggate
Wolfe Research
1 question for CTRA
Also covers: APA, BP, COP +18 more
DG
Douglas George Blyth Leggate
Bank of America
1 question for CTRA
JA
John Abbott
Wolfe Research
1 question for CTRA
Also covers: AR, CHRD, CIVI +10 more
Kevin MacCurdy
Pickering Energy Partners
1 question for CTRA
Also covers: AR, CHRD, CNX +13 more
WJ
Wei Jiang
Barclays
1 question for CTRA
Also covers: APA, AR, BKV +9 more
Recent press releases and 8-K filings for CTRA.
Energy companies outline portfolio optimization at Goldman Sachs conference
CTRA
Dividends
M&A
New Projects/Investments
- Coterra underscores a balanced gas and oil portfolio for capital allocation flexibility, supporting 2–4× dividend coverage and share repurchases.
- Ovintiv has centralized on the Permian and Montney basins, leveraging their long inventory runway and targeting $100 million in annual synergies from its NuVista acquisition.
- Devon is pursuing $1 billion of sustainable free cash flow by year-end, driven by 80 AI-enabled value workstreams across its organization.
- Panelists detail an AI integration strategy spanning three waves—from improving data access to embedding AI in workflows—to boost productivity and enable next-generation projects.
Jan 6, 2026, 8:00 PM
Shale E&P operators outline diversified portfolios and tech-driven efficiencies
CTRA
M&A
- Coterra emphasizes a diversified, oil-and-gas balanced portfolio to flexibly allocate capital, drive cross-basin operating synergies, and sustain 2–4× free cash flow coverage on its dividend through 2025.
- Ovintiv has consolidated its focus on the Permian and Montney, leveraging deep inventory, automation, and AI, and is integrating NuVista to realize $100 million in annual synergies.
- Devon aims for $1 billion of sustainable free cash flow by end-2026 via 80 AI-enabled value workstreams, advancing toward full AI-centric “wave 3” operational integration.
- Northern Oil & Gas underscores shale’s cyclicality, estimating U.S. marginal supply costs at $65–70/bbl, and notes well productivity plateauing as core acreage matures.
Jan 6, 2026, 8:00 PM
Goldman Sachs Energy Conference: Diversified Shale E&P Models
CTRA
M&A
New Projects/Investments
- Panelists highlighted the value of multibasin portfolios to transfer automation, AI and fracturing innovations—Ovintiv leverages Montney learnings in the Permian to extend runway and boost returns.
- Ovintiv has engaged advisors and opened a data room to monetize its Mid-Continent assets, aiming to support a $4 billion net debt target by selling long-dated PDP properties.
- Devon Energy is targeting $1 billion in sustainable free cash flow by year-end via 80 AI-enabled workstreams that improve data access, embed AI in workflows and redesign processes around technology.
- Northern Oil & Gas is acquiring Utica basin assets as a 49% non-operator, pairing passive stakes with co-development contracts to capitalize on long-term gas inventory.
- While shale well productivity gains have plateaued since 2020, operators report high single-digit annual well cost reductions through operational tech, offsetting portfolio maturation.
Jan 6, 2026, 8:00 PM
Coterra Energy reports strong Q3 2025 results
CTRA
Earnings
Guidance Update
Dividends
- Production and financial results: volumes ~2.5% above guidance midpoint; pre-hedge oil & gas revenues of $1.7 billion (57% oil); discretionary cash flow of $1.15 billion and free cash flow of $533 million in Q3.
- Guidance update: Q4 oil production guided to 175 MBbl/d midpoint; full-year 2025 production raised to 777 MBOE/d midpoint (+5% y/y); capex projected at $2.3 billion for FY2025.
- Balance sheet and returns: ended Q3 with $98 million cash and $2.1 billion total liquidity; repaid $600 million of term loans YTD; declared a $0.22/share dividend (~3.5% yield) and reinitiated share buybacks.
- Acquisition integration and synergies: Lea County well costs down 10%; projected $20 million annual LOE savings and up to $50 million annual power cost savings via microgrids; identified 10% more inventory than initially estimated.
Nov 4, 2025, 3:00 PM
Coterra Energy beats Q3 2025 guidance and raises full-year outlook
CTRA
Earnings
Guidance Update
Share Buyback
- Coterra Energy beat both midpoints of its Q3 2025 oil and natural gas production guidance by ~2.5% with in-line capex, prompting an upward revision and tighter ranges for FY25 volumes.
- Durable free cash flow outlook with an estimated $2.0 billion for 2025 underpinned by a balanced oil and gas mix.
- Looking ahead to 2026, Coterra anticipates modestly lower capex year-over-year while sustaining 0–5% BOE and gas growth and ~5% oil growth with a reinvestment rate ≤ 50%.
- Strengthened balance sheet with pro forma leverage of ~0.8x, $600 million of term loans retired year-to-date, and the resumption of share repurchases in 4Q25.
Nov 4, 2025, 3:00 PM
Coterra Energy reports Q3 2025 results
CTRA
Earnings
Guidance Update
Share Buyback
- Coterra produced oil, gas, and BOE volumes ~2.5% above guidance midpoint; NGL volumes reached an all-time high of 136 MBbl/d.
- Pre-hedge oil and gas revenues of $1.7 billion, with oil accounting for 57% of revenues and oil volumes up 11,300 bbl/d (≥7% Q/Q).
- Cash operating costs of $9.81/BOE, capex of $658 million, discretionary cash flow $1.15 billion, and free cash flow $533 million in Q3.
- Q4 2025 guidance: oil production 175 MBbl/d at midpoint (+5% Q/Q), total production 770–810 kBOE/d, capex ~$530 million; full-year production guidance raised to 777 kBOE/d (midpoint) and capex $2.3 billion.
- Declared $0.22/share dividend (3.5% yield), repaid $600 million of term loans YTD, reinitiated share buyback, with $2.1 billion liquidity and net debt $3.9 billion.
Nov 4, 2025, 3:00 PM
Coterra reports Q3 2025 results
CTRA
Earnings
Guidance Update
Share Buyback
- Coterra’s Q3 production volumes were 2.5% above the midpoint of guidance; pre-hedge oil & gas revenue was $1.7 billion (57% oil), and free cash flow reached $533 million.
- Q4 2025 production is guided to 770–810 MBOE/d (natural gas 2.78–2.93 Bcf/d) with capex of $530 million; full-year 2025 production guidance was raised to 777 MBOE/d and natural gas to 2.95 Bcf/d on capex of $2.3 billion.
- Provided a soft 2026 outlook expecting modest year-over-year capex reduction while maintaining production ranges; a detailed three-year plan update will be released in February.
- Declared a dividend of $0.22 per share (yield >3.5%), repaid $250 million of term loans in Q3 (total paydown $600 million), reinitiated share buybacks, and held $2.1 billion of liquidity versus $3.9 billion debt.
- Integration of Lea County assets delivered a 10% reduction in well cost, with ongoing LOE savings projected at 15% (~$20 million / year) and potential microgrid-driven savings of $25–50 million / year; production from these assets is in line to above expectations.
Nov 4, 2025, 3:00 PM
Coterra Energy faces call for governance overhaul
CTRA
Board Change
M&A
- Activist investor Kimmeridge criticized Coterra’s board for “failures of governance” after the failed 2021 Cabot–Cimarex merger and urged appointment of an independent non-executive Chair to restore accountability.
- The merger has resulted in mismatched assets—dry gas in the Marcellus versus oil in the Permian—leading to complexity, inefficiency and valuation compression, with Coterra underperforming the XLE index and peers.
- Coterra wrote down Marcellus proved reserves by 32% within 13 months of the merger, highlighting flaws in capital allocation and board-level risk management.
- Kimmeridge recommends divesting low-decline Marcellus and Anadarko assets and refocusing on the Delaware Basin, where Coterra has led in lowest-cost supply wells since 2022, to simplify operations and boost returns.
Nov 4, 2025, 1:00 PM
Coterra Energy reports Q3 2025 results and updates guidance
CTRA
Earnings
Guidance Update
Dividends
- Coterra reported Q3 2025 GAAP net income of $322 million ($0.42 per share), discretionary cash flow of $1,148 million, free cash flow of $533 million, and incurred capital expenditures of $658 million.
- Total production averaged 785.0 MBoepd, including 166.8 MBopd of oil and 2,894.6 MMcfpd of natural gas, near the high end of guidance, with unit operating costs of $9.81/BOE.
- Declared a Q3 dividend of $0.22 per share (3.8% annualized yield), paying $168 million, repaid $250 million of term loans, and resumed opportunistic share repurchases.
- Raised 2025 full-year production guidance to 772–782 MBoepd and 2,925–2,965 MMcfpd of gas (oil guidance narrowed to 159–161 MBopd); issued Q4 guidance of 770–810 MBoepd, 172–178 MBopd oil, 2,775–2,925 MMcfpd gas, and capex of $530 million.
Nov 3, 2025, 10:04 PM
Coterra Energy reports Q3 2025 results and guidance update
CTRA
Earnings
Guidance Update
Dividends
- Coterra posted Q3 GAAP net income of $322 million ($0.42/share) and adjusted net income of $312 million ($0.41/share), generating $533 million of free cash flow.
- Q3 production averaged 785.0 MBoepd, including 166.8 MBopd of oil and 2,894.6 MMcfpd of gas; incurred capital expenditures were $658 million, near the mid-point of guidance.
- Declared a quarterly dividend of $0.22/share (3.8% annualized yield), payable November 26, 2025 to holders of record November 13, 2025.
- Raised full-year 2025 production guidance to 772–782 MBoepd and set Q4 guidance at 770–810 MBoepd, oil 172–178 MBopd, gas 2,775–2,925 MMcfpd, and capex of $530 million.
- Continued capital discipline by repaying $250 million of term loans in Q3; exited the quarter with $3.9 billion of total debt and $98 million of cash, and resumed share repurchases.
Nov 3, 2025, 9:05 PM
Quarterly earnings call transcripts for Coterra Energy.
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