The acquisition closed on May 7, 2026 (SEC 8-K 2.01). Its last closing price was on May 6, 2026. It has left the AI-ranked universe. The score and rank below are its final ones, from May 3, 2026. Source: SEC 8-K 2.01
AI-extracted from the 10-Q filed 2026-05-06 — Q1 2026 (quarter ended March 31, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Coterra posted $1.9B in operating revenues (oil, gas, NGL) with $466M net income in Q1 2026 before pending $0.70-per-share merger with Devon Energy.
Biggest Revenue Drivers
Natural gas$1,110M+24% YoY
Higher natural gas prices (+31% per Mcf) and higher Permian/Anadarko production, partially offset by lower Marcellus volumes.
Oil$1,043M+18% YoY
Higher oil production in Permian Basin (+2.0 MMBbl) with slightly higher realized prices.
Biggest Revenue Drivers
Total revenue: $1,947M+2% YoY
Natural gas$1,110M+24% YoY
Higher natural gas prices (+31% per Mcf) and higher Permian/Anadarko production, partially offset by lower Marcellus volumes.
Oil$1,043M+18% YoY
Higher oil production in Permian Basin (+2.0 MMBbl) with slightly higher realized prices.
Largest Expense Items
Depreciation, depletion and amortization$555M+10% YoY
Higher depletion rate due to shift to fields with higher depletion rates and increased production.
Direct operations$291M+35% YoY
Higher Permian Basin lifting costs from FME/Avant acquisitions and increased workover activity.
Gathering, processing and transportation$267M-5% YoY
Lower production in Marcellus Shale partially offset cost decline.
General and administrative$79M-14% YoY
Lower acquisition and transition costs from FME/Avant integration compared to prior-year period.
Margins: Operating income declined to $646M from $702M YoY despite flat revenues, as derivatives losses widened $322M and direct ops/DD&A expenses rose. Gross margin pressure from higher lifting costs on Permian acquisitions was partially offset by stronger natural gas prices.
Watch Items from the Filing
Pending merger with Devon Energy at 0.70 shares per Coterra share; stockholders approved May 4, 2026; expected close May 7, 2026. Materially reshapes capitalization and ownership structure.
Natural gas basis differentials remain severely negative, especially Waha at $(1.92)/MMBtu; company expects relief from pipeline capacity additions in late 2026.
Derivative instruments generated $434M loss in Q1; remaining 2026 oil and natural gas production largely unhedged, exposing ~60% of oil and ~36% of gas volumes to commodity volatility.
EPA issued two Notices of Violation (June, August 2023) for alleged Clean Air Act violations in Texas/New Mexico; DOJ referred for enforcement; timing and quantum of fines uncertain but expected.
FME and Avant acquisitions (closed January 2025, $4.0B total) have higher lifting costs than legacy wells, pressuring direct operations margin; integration underway.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Young, III Shannon E.EVP & Chief Financial OfficerGrant or award · Feb 24, 2026
Congress trading in CTRA
11 transactions in CTRA reported by 5 members of Congress under the STOCK Act, most recent trade May 8, 2026. Reported transactions, not recommendations.
About Coterra Energy Inc. (CTRA): stock profile, AI score and financials
Acquired by Devon Energy Corporation: Coterra Energy Inc. (CTRA) no longer trades and has left 13F Pro's AI-ranked universe. The acquisition closed on May 7, 2026 (SEC 8-K 2.01). Its last closing price was on May 6, 2026. It has left the AI-ranked universe. The score and rank below are its final ones, from May 3, 2026. Coterra Energy Inc. (CTRA) stock profile, AI quality score, and SEC EDGAR financial data, a Energy sector company. 13F Pro tracks CTRA using direct SEC EDGAR data and AI-powered research tools. Based on the latest XBRL financial filings (Q1 2026), Coterra Energy Inc. reports quarterly revenue of $1.9B, net income of $466.0M, an operating margin of 33.2%. Top institutional holders of CTRA by reported 13-F value include DekaBank Deutsche Girozentrale, MIZUHO SECURITIES USA, J. Safra Sarasin Holding AG, based on the most recent SEC filings. CTRA trades on the NYSE exchange and files with the SEC under CIK 858470. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CTRA daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Coterra Energy Inc. directly from SEC EDGAR.