Coterra Energy (NYSE:CTRA) Sets New 1-Year High After Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s stock price hit a new 52-week high during trading on Tuesday after Truist Financial raised their price target on the stock from $33.00 to $37.00. Truist Financial currently has a buy rating on the stock. Coterra Energy traded as high as $29.10 and last traded at $29.05, with a volume of 552051 shares changing hands. The stock had previously closed at $28.61.

CTRA has been the subject of a number of other research reports. Wells Fargo & Company lifted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Mizuho increased their target price on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th. Stephens lifted their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Finally, Piper Sandler reduced their price objective on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.76.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the sale, the senior vice president now directly owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. City State Bank acquired a new stake in Coterra Energy during the 4th quarter worth about $26,000. AdvisorNet Financial Inc grew its holdings in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock worth $29,000 after acquiring an additional 744 shares during the period. Values First Advisors Inc. acquired a new stake in Coterra Energy during the third quarter worth about $57,000. Tobam purchased a new position in Coterra Energy during the third quarter valued at approximately $63,000. Finally, Capital Performance Advisors LLP acquired a new position in Coterra Energy in the third quarter valued at approximately $67,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Up 1.0 %

The firm has a market cap of $21.28 billion, a PE ratio of 17.40, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The company has a 50-day simple moving average of $25.75 and a 200 day simple moving average of $24.95. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company posted $0.47 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. As a group, sell-side analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were paid a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. Coterra Energy’s dividend payout ratio is presently 50.60%.

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.