Coterra Energy (NYSE:CTRA) Upgraded by Roth Capital to “Strong-Buy”

Roth Capital upgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to a strong-buy rating in a research report report published on Tuesday morning, Zacks.com reports.

Several other research analysts have also issued reports on CTRA. Roth Mkm upgraded shares of Coterra Energy from a neutral rating to a buy rating and upped their target price for the stock from $25.00 to $29.00 in a research report on Tuesday. BMO Capital Markets upgraded Coterra Energy to a hold rating in a research report on Wednesday, July 3rd. Piper Sandler decreased their price target on shares of Coterra Energy from $39.00 to $31.00 and set an overweight rating on the stock in a research note on Thursday, August 15th. Bank of America restated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Finally, UBS Group decreased their target price on shares of Coterra Energy from $36.00 to $34.00 and set a buy rating on the stock in a research report on Thursday, August 8th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $33.29.

Coterra Energy Stock Performance

Coterra Energy stock opened at $24.33 on Tuesday. Coterra Energy has a 1-year low of $23.18 and a 1-year high of $29.89. The company has a current ratio of 1.49, a quick ratio of 1.46 and a debt-to-equity ratio of 0.16. 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 firm’s 50 day simple moving average is $25.52 and its 200 day simple moving average is $26.62.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business 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 company’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the business posted $0.38 EPS. As a group, analysts expect that Coterra Energy will post 2.02 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. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. The ex-dividend date was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.45%. Coterra Energy’s dividend payout ratio is 48.55%.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. Robeco Institutional Asset Management B.V. increased its holdings in shares of Coterra Energy by 172.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock valued at $18,531,000 after acquiring an additional 459,713 shares in the last quarter. KBC Group NV raised its holdings in shares of Coterra Energy by 240.1% during the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after purchasing an additional 609,954 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of Coterra Energy during the 1st quarter valued at $656,000. Quadrature Capital Ltd lifted its holdings in Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after acquiring an additional 38,278 shares during the period. Finally, Private Advisor Group LLC lifted its stake in shares of Coterra Energy by 38.2% in the 4th quarter. Private Advisor Group LLC now owns 123,322 shares of the company’s stock worth $3,147,000 after purchasing an additional 34,110 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.