secwatch.observer — SEC 8-K summary
======================================

Issuer:     Coterra Energy Inc. (CTRA)
CIK:        0000858470
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0000858470-24-000063
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Coterra Q1 net income $352M; raises 2024 oil guidance 2.5%; quarterly dividend $0.21
--------------------------------------------------------------------------------

- Q1 GAAP net income $352M ($0.47/sh); adjusted net income $383M ($0.51/sh).
- Total production 686 MBoepd near high end; oil 102.5 MBopd exceeded guidance; raised 2024 oil guidance 2.5%.
- Incurred capex $450M below $460-540M guidance; free cash flow $340M; shareholder returns ~90% of FCF.
- Declared $0.21/sh quarterly dividend, payable May 30; repurchased $150M shares during quarter.
- Issued $500M senior notes at 5.60% due 2034; proceeds to repay $575M notes due Sept 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858470/000085847024000063/0000858470-24-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858470/000085847024000063/ctra-20240502.htm
  HTML page:      https://secwatch.observer/filing/0000858470-24-000063

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer