Coterra Energy Inc. (NYSE:CTRA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Coterra Energy Inc. (NYSE:CTRA) have received an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $32.76.

Several equities analysts have recently commented on the company. Citigroup increased their price objective on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Susquehanna increased their price target 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. Scotiabank lowered their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Stephens upped their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Morgan Stanley lifted their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business’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 approximately $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. The trade was a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CTRA. Mercer Global Advisors Inc. ADV grew its holdings in Coterra Energy by 7.3% during the second quarter. Mercer Global Advisors Inc. ADV now owns 37,485 shares of the company’s stock valued at $1,000,000 after purchasing an additional 2,536 shares during the period. AE Wealth Management LLC increased its holdings in Coterra Energy by 36.1% in the 2nd quarter. AE Wealth Management LLC now owns 11,481 shares of the company’s stock worth $306,000 after acquiring an additional 3,046 shares in the last quarter. Profund Advisors LLC lifted its holdings in Coterra Energy by 8.0% during the second quarter. Profund Advisors LLC now owns 39,972 shares of the company’s stock valued at $1,066,000 after purchasing an additional 2,963 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Coterra Energy by 25.8% in the second quarter. ProShare Advisors LLC now owns 160,840 shares of the company’s stock worth $4,290,000 after purchasing an additional 32,993 shares during the period. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Coterra Energy by 48.0% in the second quarter. EverSource Wealth Advisors LLC now owns 3,479 shares of the company’s stock worth $90,000 after purchasing an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE CTRA opened at $29.13 on Wednesday. The company’s 50 day simple moving average is $26.13 and its two-hundred day simple moving average is $25.02. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The stock has a market capitalization of $21.46 billion, a PE ratio of 17.55, a P/E/G ratio of 0.71 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 earnings per share. Analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, November 14th. 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.