Coterra Energy Inc. (NYSE:CTRA) Receives $32.33 Consensus PT from Brokerages

Coterra Energy Inc. (NYSE:CTRA) has been given an average recommendation of “Moderate Buy” by the fifteen ratings firms that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $32.47.

A number of brokerages have issued reports on CTRA. Piper Sandler boosted their price target on Coterra Energy from $35.00 to $37.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. JPMorgan Chase & Co. increased their target price on shares of Coterra Energy from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 4th. UBS Group boosted their price target on shares of Coterra Energy from $31.00 to $32.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Mizuho reiterated a “buy” rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Wednesday, April 3rd. Finally, Stephens restated an “overweight” rating and issued a $39.00 target price on shares of Coterra Energy in a research report on Tuesday, January 23rd.

Coterra Energy Stock Up 1.1 %

CTRA stock opened at $28.45 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm’s 50-day simple moving average is $26.95 and its 200 day simple moving average is $26.42. The stock has a market cap of $21.39 billion, a PE ratio of 13.29 and a beta of 0.21. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, February 22nd. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, sell-side analysts predict that Coterra Energy will post 1.88 EPS for the current year.

Coterra Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Thursday, March 14th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.95%. This is an increase from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. Coterra Energy’s dividend payout ratio is currently 39.25%.

Insider Buying and Selling

In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now directly owns 93,988 shares of the company’s stock, valued at $2,449,327.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of the firm’s stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total value of $1,488,300.00. Following the completion of the sale, the chief accounting officer now owns 176,758 shares of the company’s stock, valued at $4,783,071.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $26.06, for a total value of $364,840.00. Following the transaction, the vice president now directly owns 93,988 shares in the company, valued at $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of the business. SouthState Corp increased its position in Coterra Energy by 75.4% during the third quarter. SouthState Corp now owns 1,056 shares of the company’s stock worth $29,000 after acquiring an additional 454 shares during the period. Tennessee Valley Asset Management Partners acquired a new stake in shares of Coterra Energy in the 4th quarter valued at about $33,000. VisionPoint Advisory Group LLC boosted its position in shares of Coterra Energy by 133.3% during the third quarter. VisionPoint Advisory Group LLC now owns 1,295 shares of the company’s stock worth $35,000 after buying an additional 740 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Coterra Energy during the fourth quarter worth about $33,000. Finally, Harbor Investment Advisory LLC raised its position in Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock valued at $45,000 after buying an additional 1,443 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.