Coterra Energy (NYSE:CTRA) Given New $27.00 Price Target at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective lowered by Morgan Stanley from $29.00 to $27.00 in a research note published on Monday, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

CTRA has been the topic of several other research reports. Piper Sandler dropped their target price on Coterra Energy from $39.00 to $31.00 and set an overweight rating on the stock in a research report on Thursday, August 15th. Bank of America reiterated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Wolfe Research started coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an outperform rating and a $35.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $31.00 to $26.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Finally, Truist Financial lowered their price target on Coterra Energy from $35.00 to $34.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $32.76.

Coterra Energy Trading Up 0.6 %

NYSE:CTRA opened at $22.92 on Monday. The company has a market cap of $17.06 billion, a P/E ratio of 13.25, a P/E/G ratio of 1.16 and a beta of 0.22. The stock’s fifty day moving average price is $24.70 and its two-hundred day moving average price is $26.48. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.89. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last posted its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. As a group, analysts expect that Coterra Energy will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.66%. Coterra Energy’s payout ratio is presently 48.55%.

Institutional Trading of Coterra Energy

Several large investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in shares of Coterra Energy in the second quarter worth about $3,420,000. New Wave Wealth Advisors LLC purchased a new position in shares of Coterra Energy during the second quarter valued at approximately $245,000. Cetera Investment Advisers lifted its holdings in shares of Coterra Energy by 2.2% during the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock valued at $5,698,000 after purchasing an additional 4,555 shares during the last quarter. Graham Capital Wealth Management LLC lifted its holdings in shares of Coterra Energy by 1.3% during the second quarter. Graham Capital Wealth Management LLC now owns 78,017 shares of the company’s stock valued at $2,081,000 after purchasing an additional 977 shares during the last quarter. Finally, Core Alternative Capital lifted its holdings in shares of Coterra Energy by 13.9% during the second quarter. Core Alternative Capital now owns 82,480 shares of the company’s stock valued at $2,200,000 after purchasing an additional 10,081 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

About Coterra Energy

Coterra Energy Inc, an independent oil and gas company, engages in the development, exploration, and production of oil, natural gas, and natural gas liquids in the United States. The company's properties include the Marcellus Shale with approximately 186,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania; Permian Basin properties with approximately 296,000 net acres located in west Texas and southeast New Mexico; and Anadarko Basin properties with approximately 182,000 net acres located in Oklahoma.