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Sentiment · FY2025 Q4
| Analyst | Firm | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| Dave Deckelbaum | TD Cowen | 8 | 0% |
| Matt Portillo | Tudor, Pickering, Holt | 8 | 0% |
| Kalei Akamine | Bank of America | 8 | 13% |
| Derrick Whitfield | Texas Capital Securities | 8 | 0% |
| Arun Jayaram | JPMorgan | 8 | 0% |
| Scott Gruber | Citigroup | 8 | 13% |
| Neil Mehta | Goldman Sachs | 8 | 13% |
| Betty Jiang | Barclays | 6 | 17% |
| Nitin Kumar | Mizuho Securities | 6 | 0% |
| Doug Leggate | Wolfe Research | 5 | 40% |
| Firm | Analysts | Questions | ChallengePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|---|
| TD Cowen | 1 | 8 | 0% |
| Bank of America | 1 | 8 | 13% |
| Tudor, Pickering, Holt | 1 | 8 | 0% |
| Citigroup | 1 |
| 8 |
| 13% |
| Goldman Sachs | 1 | 8 | 13% |
| JPMorgan | 1 | 8 | 0% |
| Texas Capital Securities | 1 | 8 | 0% |
| Wolfe Research | 2 | 7 | 29% |
Coterra posted Q4 revenue of $1,959 million, up 40% YOY on a GAAP basis, with income from operations surging as Delaware Basin acquisition volumes and natural gas price recovery drove strong top-line growth despite oil prices declining to $58.16/Bbl from $68.57/Bbl. Adjusted EPS fell 20% to $0.39 reflecting weaker commodity realizations and higher costs from the expanded asset base, while ex-derivative operating income grew a more modest 6.63% indicating acquisition-driven volume gains were partially offset by margin compression. The quarter was defined by the February 2 announcement of an all-stock merger with Devon Energy at a 0.70 exchange ratio, creating a combined Delaware Basin leader with $1 billion in expected annual synergies, which led to cancellation of the earnings call. Free cash flow reached $507 million for the quarter and $2.0 billion for the year, up 67% from 2024, with 75% of FCF returned to shareholders through dividends, buybacks, and debt reduction.
Capex Investment | Pricing | Capital Allocation | Competitive Dynamics | Guidance Reliability | M&A | Cost Pressure | Demand | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 13 | 6 | 4 | 4 | 3 | 4 | 2 | 4 |
| 2025Q1 | 13 | 8 | 5 | 2 | 4 | 1 | 1 | |
| 2025Q2 | 11 | 8 | 4 | 3 | 2 | 3 | 1 | 1 |
| 2025Q3 | 11 | 2 | 4 | 4 | 3 | 3 | 4 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | |
|---|---|---|---|---|
| Capex Investment | 13 | 13 | 11 | 11 |
| Pricing | 6 | 8 | 8 | 2 |
| Capital Allocation | 4 | 5 | 4 | 4 |
| Competitive Dynamics | 4 | 2 | 3 | 4 |
| Guidance Reliability | 3 | 4 | 2 | 3 |
| M&A | 4 | 1 | 3 | 3 |
| Cost Pressure | 2 | 1 | 4 | |
| Demand | 4 | 1 | 1 | 1 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CTRA Coterra | 7 | +23.8% | |
| APA APA Corporation | 5 | -11.7% | |
| COP ConocoPhillips | 6 | -2.5% | |
| DVN Devon Energy | 5 | -13.0% | |
| EOG EOG Resources | 9 | +15.7% | |
| EQT EQT Corporation | 9 | +39.7% | |
| EXE Expand Energy | 7 | +100.2% | |
| FANG Diamondback Energy | 6 | +5.2% | |
| OXY Occidental Petroleum | 6 | -23.1% | |
| TPL Texas Pacific Land Corporation | 8 | +20.8% |