Coterra Energy (NYSE:CTRA) Sets New 52-Week Low at $23.00

Coterra Energy Inc. (NYSE:CTRA)’s share price reached a new 52-week low during trading on Friday . The stock traded as low as $23.00 and last traded at $23.02, with a volume of 1239756 shares. The stock had previously closed at $23.49.

Analyst Upgrades and Downgrades

CTRA has been the subject of a number of analyst reports. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. UBS Group decreased their price target on Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Roth Mkm upgraded shares of Coterra Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Bank of America reissued a “buy” rating and set a $34.00 target price on shares of Coterra Energy in a research note on Friday, June 14th. Finally, Citigroup increased their price objective on shares of Coterra Energy from $30.00 to $31.00 and gave the company a “buy” rating in a report on Friday, May 24th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $33.12.

Coterra Energy Stock Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The firm has a market capitalization of $17.10 billion, a PE ratio of 13.58, a P/E/G ratio of 1.24 and a beta of 0.22. The firm has a fifty day moving average price of $25.30 and a 200 day moving average price of $26.63.

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

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.66%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. International Assets Investment Management LLC bought a new stake in Coterra Energy in the fourth quarter worth approximately $1,396,000. National Bank of Canada FI increased its position in Coterra Energy by 15.2% during the fourth quarter. National Bank of Canada FI now owns 426,924 shares of the company’s stock worth $10,967,000 after buying an additional 56,377 shares during the last quarter. Wealthcare Advisory Partners LLC acquired a new stake in shares of Coterra Energy in the fourth quarter worth about $444,000. Private Advisor Group LLC increased its holdings in shares of Coterra Energy by 38.2% during the 4th quarter. Private Advisor Group LLC now owns 123,322 shares of the company’s stock valued at $3,147,000 after acquiring an additional 34,110 shares during the last quarter. Finally, Apollon Wealth Management LLC boosted its position in Coterra Energy by 38.1% during the fourth quarter. Apollon Wealth Management LLC now owns 18,499 shares of the company’s stock worth $472,000 after purchasing an additional 5,099 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.