Coterra Announces Accretive Permian Basin Acquisitions
Coterra Energy Inc. (CTRA)
Last coterra energy inc. earnings: 3/18 07:30 am
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Source: Business Wire
HOUSTON--(BUSINESS WIRE)--Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today announced it has entered into two separate definitive agreements to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources and its affiliates for aggregate consideration of $3.95 billion, consisting of $2.95 billion of cash and $1.0 billion of Coterra common stock, issued to one of the sellers, subject to certain purchase price adjustments. The cash portion of the consideration is expected to be funded through a combination of cash on hand and borrowings. The transactions are each subject to satisfaction of customary terms and conditions and are expected to close during the first quarter of 2025, with effective dates as of October 1, 2024. Neither acquisition is conditioned on the closing of the other acquisition.Tom Jorden, Chairman, CEO, and President of Coterra, noted, “We are thrilled to announce the pending acquisition of two high-quality Permian Basin asset p
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News
- Coterra Energy Inc. (NYSE: CTRA) had its price target raised by analysts at Morgan Stanley from $27.00 to $29.00. They now have an "equal weight" rating on the stock.MarketBeat
- Coterra Energy Inc. (NYSE: CTRA) had its price target raised by analysts at Truist Financial Co. from $31.00 to $33.00. They now have a "buy" rating on the stock.MarketBeat
- Coterra Energy Inc. (NYSE: CTRA) had its price target raised by analysts at Barclays PLC from $31.00 to $33.00. They now have an "overweight" rating on the stock.MarketBeat
- Here's What Affected Coterra Energy (CTRA) [Yahoo! Finance]Yahoo! Finance
- Coterra Energy Inc. (NYSE: CTRA) had its price target raised by analysts at Piper Sandler from $32.00 to $35.00. They now have an "overweight" rating on the stock.MarketBeat
CTRA
Earnings
- 10/31/24 - Miss
CTRA
Sec Filings
- 11/8/24 - Form SC
- 11/1/24 - Form S-3ASR
- 11/1/24 - Form S-3ASR
- CTRA's page on the SEC website