Coterra Energy

The antitrust waiting period required under the Hart-Scott-Rodino Act for the planned merger of Coterra and Devon Energy has expired with no objections, fulfilling a key condition for closing. Under the transaction, Coterra will become a wholly owned subsidiary of Devon; both companies expect the deal to close in Q2 2026 and have filed the S-4/proxy materials with the SEC. Coterra reported adjusted EPS of $0.39 for Q4, below estimates, but beat revenue expectations and materially increased production. » More on de.investing.com

Wolfe Research reconfirms an "Outperform" rating for Coterra and cuts the price target to $32 after adjusting its commodity price forecast. Activist Kimmeridge is pushing for value-enhancing measures and supports an agreed stock deal with Devon that would create a combined company with an enterprise value of about $58 billion. Coterra cites slightly reduced capital expenditures for 2026 and roughly 5% oil production growth; UBS maintains a buy recommendation with a $33 price target. » More on de.investing.com

Coterra Energy’s stock rose to a 52-week high of $29.83 and is up 6.72% year-on-year. With a P/E ratio of 13.34, a dividend yield of 3.04% and 36 years of consecutive dividend payments, the valuation still looks attractive. Devon Energy and Coterra have announced a planned stock-swap merger to form a combined company worth about $58 billion; Devon shareholders would hold 54% and Coterra shareholders 46%, which triggered near-term share price declines. UBS reiterates its buy recommendation for Coterra and keeps the price target at $33; the next quarterly report is due on February 26. » More on de.investing.com