secwatch.observer — SEC 8-K summary
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Issuer:     Coterra Energy Inc. (CTRA)
CIK:        0000858470
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000858470-23-000022
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858470/000085847023000022/0000858470-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858470/000085847023000022/cog-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000858470-23-000022

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