Coterra Energy Inc. (NYSE:CTRA) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRA) have been assigned an average recommendation of “Moderate Buy” from the nineteen brokerages that are covering the company, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation, sixteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $33.29.

CTRA has been the subject of several recent research reports. Bank of America reissued a “buy” rating and issued a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. UBS Group lowered their price target on shares of Coterra Energy from $36.00 to $34.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Piper Sandler lowered their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Citigroup boosted their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Friday, May 24th. Finally, BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a research note on Wednesday, July 3rd.

Coterra Energy Stock Down 0.4 %

Shares of NYSE:CTRA opened at $24.33 on Friday. Coterra Energy has a 52-week low of $23.18 and a 52-week high of $29.89. The firm has a fifty day moving average of $25.52 and a 200 day moving average of $26.64. The firm has a market capitalization of $18.11 billion, a PE ratio of 14.06, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. The firm’s revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.38 earnings per share. As a group, research analysts anticipate that Coterra Energy will post 2.02 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is currently 48.55%.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors have recently bought and sold shares of CTRA. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC grew its holdings in Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the period. Headlands Technologies LLC grew its holdings in Coterra Energy by 397.7% in the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after purchasing an additional 1,392 shares during the period. Central Pacific Bank Trust Division purchased a new stake in Coterra Energy in the first quarter worth about $44,000. Finally, Harbor Investment Advisory LLC grew its holdings in Coterra Energy by 869.3% in the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after purchasing an additional 1,443 shares during the period. 87.92% of the stock is owned by institutional investors.

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.