Brokerages Set Coterra Energy Inc. (NYSE:CTRA) PT at $32.53

Coterra Energy Inc. (NYSE:CTRA) has received an average recommendation of “Moderate Buy” from the nineteen analysts that are covering the stock, Marketbeat Ratings reports. 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. The average twelve-month price objective among brokers that have covered the stock in the last year is $32.53.

A number of research firms recently weighed in on CTRA. Wells Fargo & Company upped their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Truist Financial increased their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research note on Thursday, November 14th. Susquehanna boosted their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Barclays increased their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Finally, Piper Sandler reduced their price target on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $26.24 on Friday. The firm’s 50 day simple moving average is $25.20 and its 200-day simple moving average is $24.95. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a one year low of $22.30 and a one year high of $28.90. The firm has a market cap of $19.33 billion, a PE ratio of 15.81, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the business earned $0.47 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.20%. Coterra Energy’s payout ratio is presently 50.60%.

Insider Transactions at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of Coterra Energy stock in a transaction dated Wednesday, November 20th. The stock was 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 owns 72,409 shares in the company, 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 is accessible through this link. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the sale, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC boosted its holdings in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Values First Advisors Inc. acquired a new position in shares of Coterra Energy in the third quarter worth about $57,000. Tobam purchased a new stake in shares of Coterra Energy during the 3rd quarter worth about $63,000. Capital Performance Advisors LLP acquired a new stake in shares of Coterra Energy during the 3rd quarter valued at about $67,000. Finally, Bruce G. Allen Investments LLC increased its stake in shares of Coterra Energy by 17.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after purchasing an additional 450 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.