HighGravityDataCurrent guidance
34 items
Coterra Energy
Guidance from Coterra Energy’s last 8 earnings releases. Every value links to its sentence in the filing. See something wrong? Tell us.
Releases tracked
8
Latest release
Feb 26, 2026
Data checked
Feb 26, 2026
What changed in the Feb 26, 2026 release
Each item compared with the same item in the previous release (Nov 3, 2025). Values in quotation marks are the company’s words.
New — first stated in this releaseRaised / Lowered / Narrowed / Widened — changed from the prior releaseRevised — wording changed, direction not determinableChanged — value changed; the comparison couldn’t be parsed to a directionReiterated — restated unchangedNot restated — stated before, absent nowRaised and lowered describe the number, not whether the change is favorable.
| Change | Metric | Period | Previous | Now | Source |
|---|---|---|---|---|---|
| New | Net Debt to Adjusted EBITDAX ratio (non-GAAP) | for the long term | — | “below 1.0x” | Filing ↗ |
| New | Pre-tax Synergy Capture (Devon-Coterra Merger) | for FY2027 | — | “$1 billion per year on a run-rate basis” | Filing ↗ |
| New | Capital expenditures | for FY2026 | — | “$2.25 billion, with a range of $2.175 to $2.325 billion” | Filing ↗ |
| New | Capital Expenditures | for FY2026 | — | “$2.25 billion, with a range of $2.175 to $2.325 billion” | Filing ↗ |
| New | Capital expenditures - Drilling and completion - Anadarko Basin ($ in millions) | for FY2026 | — | “$190” | Filing ↗ |
| New | Capital expenditures - Drilling and completion - Marcellus Shale ($ in millions) | for FY2026 | — | “$350” | Filing ↗ |
| New | Capital expenditures - Drilling and completion - Permian Basin ($ in millions) | for FY2026 | — | “$1,530” | Filing ↗ |
| New | Capital expenditures - Midstream, saltwater disposal, infrastructure, and other ($ in millions) | for FY2026 | — | “$180” | Filing ↗ |
| New | Capital expenditures Total Company ($ in millions) | for FY2026 | — | “$2,175 $2,250 $2,325” | Filing ↗ |
| New | Commodity price assumption - Henry Hub ($ per mmbtu) | for FY2026 | — | “$3.86” | Filing ↗ |
| New | Commodity price assumption - WTI ($ per bbl) | for FY2026 | — | “$64” | Filing ↗ |
| New | Discretionary Cash Flow ($ in billions) | for FY2026 | — | “$4.60” | Filing ↗ |
| New | Free Cash Flow ($ in billions) | for FY2026 | — | “$2.35” | Filing ↗ |
| New | Free Cash Flow (non-GAAP) | for FY2026 | — | “$2.35 billion” | Filing ↗ |
| New | Gas (Mmcf/day) | for FY2026 | — | “2,775 2,875 2,975” | Filing ↗ |
| New | Natural gas production | for FY2026 | — | “2,775 to 2,975 MMcfpd” | Filing ↗ |
| New | Net wells turned in line Anadarko Basin | for FY2026 | — | “12 15 18” | Filing ↗ |
| New | Net wells turned in line Marcellus Shale | for FY2026 | — | “32 36 40” | Filing ↗ |
| New | Net wells turned in line Permian Basin | for FY2026 | — | “130 140 150” | Filing ↗ |
| New | Oil (MBbl/day) | for FY2026 | — | “162 167 172” | Filing ↗ |
| New | Oil production | for FY2026 | — | “162 to 172 MBopd” | Filing ↗ |
| New | Reinvestment rate | for FY2026 | — | “approximately 50%” | Filing ↗ |
| New | Total Equivalent Production | for FY2026 | — | “750 to 810 MBoepd” | Filing ↗ |
| New | Total Equivalent Production (MBoed) | for FY2026 | — | “750 780 810” | Filing ↗ |
Current guidance
Guidance for periods that have not yet ended, at its most recent value, grouped by horizon.
Next year and medium term
| Metric | Current value | Period | Measure | First stated | Times stated | Source |
|---|---|---|---|---|---|---|
| New Permian Power Netback Gas Sale Volume | “50 MMcf per day for a seven-year term” | for FY2028 | Company-defined | Aug 4, 2025 | 1 | Filing ↗ |
| LNG natural gas sales | “200 MMcfpd” | for FY2027 | Company-defined | Oct 31, 2024 | 1 | Filing ↗ |
| Pre-tax Synergy Capture (Devon-Coterra Merger) | “$1 billion per year on a run-rate basis” | for FY2027 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Annual BOE growth | “0-5%” | for FY2026 | Company-defined | Nov 3, 2025 | 1 | Filing ↗ |
| Annual oil growth | “approximately 5%” | for FY2026 | Company-defined | Nov 3, 2025 | 1 | Filing ↗ |
| Capital expenditures | “$2.25 billion, with a range of $2.175 to $2.325 billion” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Capital expenditures | “modestly down from 2025” | for FY2026 | Company-defined | Nov 3, 2025 | 1 | Filing ↗ |
| Capital Expenditures | “$2.25 billion, with a range of $2.175 to $2.325 billion” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Capital expenditures - Drilling and completion - Anadarko Basin ($ in millions) | “$190” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Capital expenditures - Drilling and completion - Marcellus Shale ($ in millions) | “$350” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Capital expenditures - Drilling and completion - Permian Basin ($ in millions) | “$1,530” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Capital expenditures - Midstream, saltwater disposal, infrastructure, and other ($ in millions) | “$180” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Capital expenditures Total Company ($ in millions) | “$2,175 $2,250 $2,325” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Commodity price assumption - Henry Hub ($ per mmbtu) | “$3.86” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Commodity price assumption - WTI ($ per bbl) | “$64” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Discretionary Cash Flow ($ in billions) | “$4.60” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Free Cash Flow ($ in billions) | “$2.35” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Free Cash Flow (non-GAAP) | “$2.35 billion” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Gas (Mmcf/day) | “2,775 2,875 2,975” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Natural gas production | “2,775 to 2,975 MMcfpd” | for FY2026 | GAAP-tied | Feb 26, 2026 | 1 | Filing ↗ |
| Net wells turned in line Anadarko Basin | “12 15 18” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Net wells turned in line Marcellus Shale | “32 36 40” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Net wells turned in line Permian Basin | “130 140 150” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Oil (MBbl/day) | “162 167 172” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Oil production | “162 to 172 MBopd” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Quarterly Dividend | “$0.22 per share” | for FY2026 | Declared action | Feb 26, 2026 | 1 | Filing ↗ |
| Reinvestment rate | “approximately 50%” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Reinvestment rate | “at, or below, 50%” | for FY2026 | Company-defined | Nov 3, 2025 | 1 | Filing ↗ |
| Total Equivalent Production | “750 to 810 MBoepd” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Total Equivalent Production (MBoed) | “750 780 810” | for FY2026 | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
Long term
| Metric | Current value | Period | Measure | First stated | Times stated | Source |
|---|---|---|---|---|---|---|
| Net Debt to Adjusted EBITDAX leverage ratio target | “below 1.0x” | for the long term | Company-defined | Feb 24, 2025 | 1 | Filing ↗ |
| Net Debt to Adjusted EBITDAX ratio (non-GAAP) | “below 1.0x” | for the long term | Company-defined | Feb 26, 2026 | 1 | Filing ↗ |
| Shareholder return target | “50% or greater of annual Free Cash Flow (non-GAAP)” | for the long term | Company-defined | Feb 24, 2025 | 2 | Filing ↗ |
| Shareholder Return Target (Dividends + Buybacks) | “50% or greater of annual Free Cash Flow (non-GAAP)” | for the long term | Company-defined | Aug 4, 2025 | 1 | Filing ↗ |
| Shareholder returns (% of Free Cash Flow) | “50% or greater” | for the long term | Company-defined | Nov 3, 2025 | 1 | Filing ↗ |
No period stated
| Metric | Current value | Period | Measure | First stated | Times stated | Source |
|---|---|---|---|---|---|---|
| Annualized dividend yield | “3.4% annualized yield” | — | Declared action | May 5, 2025 | 1 | Filing ↗ |
| New annualized dividend | “$0.88 per share” | — | Declared action | Feb 24, 2025 | 1 | Filing ↗ |
| Quarterly base dividend | “$0.22 per share” | — | Declared action | May 2, 2024 | 3 | Filing ↗ |
| Quarterly dividend | “$0.22 per share” | — | Declared action | May 5, 2025 | 1 | Filing ↗ |
| Share Repurchase Authorization Remaining | “$1.1 billion” | — | Declared action | Aug 4, 2025 | 1 | Filing ↗ |
How one item moved
Capital Expenditures ($ in billions), for FY2025 — every statement across the year, each linked to its filing.
How your Oil & gas E&P sector group guides
12 companies in Oil & gas E&P. What they guide on, and who reported this season.
Most-guided metric families
This season’s releases
| EOG Resources | Oct 8, 2026 | 0 changes |
| APA Corporation | Aug 5, 2026 | 7 changes |
| Chord Energy | Aug 5, 2026 | 51 changes |
| Matador Resources | Aug 5, 2026 | 39 changes |
| Murphy Oil | Aug 5, 2026 | 34 changes |
| Permian Resources | Aug 5, 2026 | 12 changes |
| Devon Energy | Aug 4, 2026 | 7 changes |
| Diamondback Energy | Aug 3, 2026 | 23 changes |
Get this for your own peer set — Peer Guidance Briefing, $3,000.
Full history
Every metric, every release, eight quarters — the complete record as one table.
| Metric | FY2028 | FY2027 | FY2026 | FY2025 | FY2024 | Long-term | No period |
|---|---|---|---|---|---|---|---|
| Net Debt to Adjusted EBITDAX leverage ratio | — | — | — | — | — | 1 statement | 1 statement |
| Net Debt to Adjusted EBITDAX ratio (non-GAAP) | — | — | — | — | — | 1 statement | 1 statement |
| 1Q25 capital expenditures | — | — | — | 1 statement | — | — | — |
| 1Q25 natural gas production | — | — | — | 1 statement | — | — | — |
| 1Q25 oil production | — | — | — | 1 statement | — | — | — |
The full record for Coterra Energy and its Oil & gas E&P peers, delivered as a Peer Guidance Briefing — PDF and Excel, every value linked to its filing.
Filings
The 8 earnings releases this page is built from.
| Filed | Fiscal period | Accession | Guidance items | |
|---|---|---|---|---|
| Feb 26, 2026 | FY2025 Q4 | 0000858470-26-000053 | 26 | Open filing ↗ |
| Nov 3, 2025 | FY2025 Q3 | 0000858470-25-000196 | 53 | Open filing ↗ |
| Aug 4, 2025 | FY2025 Q2 | 0000858470-25-000162 | 39 | Open filing ↗ |
| May 5, 2025 | FY2025 Q1 | 0000858470-25-000103 | 45 | Open filing ↗ |
| Feb 24, 2025 | FY2024 Q4 | 0000858470-25-000069 | 61 | Open filing ↗ |
| Oct 31, 2024 | FY2024 Q3 | 0000858470-24-000118 | 39 | Open filing ↗ |
| Aug 1, 2024 | FY2024 Q2 | 0000858470-24-000102 | 41 | Open filing ↗ |
| May 2, 2024 | FY2024 Q1 | 0000858470-24-000063 | 42 | Open filing ↗ |
Values in quotation marks are the company’s words; the classification and filing links are HighGravityData’s. HighGravityData does not score or rank companies or give investment advice.
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