Feb 22 (Reuters) - Coterra Energy on Thursday forecast a decline in production for 2024 after it reported its quarterly profit below Wall Street estimate.

The Houston-based company sees total equivalent production of 635,000 barrels of oil equivalent per day (boepd) to 675,000 boepd in 2024, down about 2% at the mid-point from a year earlier.

However, the company reported a rise in production during the fourth quarter to 697,400 boepd, compared to 632,200 boepd a year earlier.

Commodity prices stabilized throughout 2023 after reaching multi-year highs in 2022, when Russia's invasion of Ukraine disrupted energy markets.

Geopolitical tensions including the Red Sea attacks and the Hamas conflict added pressure to the already fluctuating prices during the year.

Coterra said its U.S. average crude realized price fell to $77.10 per barrel in the reported quarter, from $82.26 per barrel.

The company's adjusted profit was 52 cents per share for the three months ended Dec. 31, compared with analysts' average estimate of 55 cents per share, according to LSEG data. (Reporting by Saikeerthi in Bengaluru; Editing by Maju Samuel)