Coterra Energy (NYSE:CTRA) PT Lowered to $31.00

Coterra Energy (NYSE:CTRA) had its price target cut by UBS Group from $34.00 to $31.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also weighed in on CTRA. Wolfe Research began coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an outperform rating and a $35.00 target price on the stock. Morgan Stanley decreased their price objective on Coterra Energy from $29.00 to $27.00 and set an equal weight rating for the company in a research report on Monday, September 16th. JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an overweight rating for the company in a research note on Thursday, September 12th. Bank of America reaffirmed a buy rating and set a $34.00 price target on shares of Coterra Energy in a research note on Friday, June 14th. Finally, BMO Capital Markets raised Coterra Energy to a hold rating in a research note on Wednesday, July 3rd. Two investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $32.59.

Coterra Energy Trading Up 0.4 %

Shares of CTRA stock opened at $23.66 on Wednesday. The firm has a 50-day moving average price of $24.42 and a 200 day moving average price of $26.40. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.89. The company has a market capitalization of $17.61 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.16 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last posted its earnings results 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 for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the company posted $0.38 EPS. Research analysts forecast that Coterra Energy will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is presently 48.55%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC raised its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC grew 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 valued at $29,000 after purchasing an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the first quarter valued at $44,000. Harbor Investment Advisory LLC lifted its position in shares of Coterra Energy by 869.3% during the first quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy during the first quarter worth $47,000. 87.92% of the stock is 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.