---
schema_version: "secwatch.filing_event.v1"
accession: "0000858470-23-000022"
form_type: "8-K"
ticker: "CTRA"
cik: "0000858470"
company_name: "Coterra Energy Inc."
filed_at: "2023-05-04T23:59:59+00:00"
generated_at: "2026-06-15T23:46:29.527951+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Coterra Energy Q1 net income $677M; production beats guidance, dividend $0.20/share

## Summary
- Net income $677M ($0.88/share); adjusted $661M ($0.87). Production 635 MBoepd exceeded high-end guidance.
- Free cash flow $556M; returning 76% ($420M) via $0.20 quarterly dividend and $268M share buybacks.
- 2023 oil production guidance raised 1.0 MBopd to 87-93 MBopd; capital budget unchanged at $2.0-2.2B.
- Dividend payable June 9, record May 26; $1.732B remains on $2.0B buyback authorization.
- Adjusted EPS $0.87; discretionary cash flow $1,039M. Realized oil $74.03/bbl, natural gas $3.31/Mcf.

## SEC filing metadata
- accession: 0000858470-23-000022
- form_type: 8-K
- ticker: CTRA
- cik: 0000858470
- company_name: Coterra Energy Inc.
- filed_at: 2023-05-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/858470/000085847023000022/0000858470-23-000022-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/858470/000085847023000022/cog-20230504.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000858470-23-000022
- JSON: https://secwatch.observer/filing/0000858470-23-000022.json
- Plain text: https://secwatch.observer/filing/0000858470-23-000022.txt

## Key facts
- Earnings Releases
  Coterra Energy Inc. reported first-quarter 2023 results: net income $677 million, EPS $0.88 per share. Guidance raised.
  - Period: first-quarter 2023
  - Net income: $677 million
  - EPS: $0.88 per share
  - Guidance: raised
  - Result: reported results
  source text: Coterra Energy Inc. (NYSE: CTRA) (“Coterra” or the “Company”) today reported first-quarter 2023 financial and operating results.
  evidence_url: https://www.sec.gov/Archives/edgar/data/858470/000085847023000022/0000858470-23-000022-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.