Coterra Energy (NYSE:CTRA) Trading Down 4.3% – What’s Next?

Coterra Energy Inc. (NYSE:CTRA)’s share price dropped 4.3% during trading on Friday . The company traded as low as $22.87 and last traded at $22.90. Approximately 3,812,256 shares changed hands during trading, a decline of 38% from the average daily volume of 6,189,651 shares. The stock had previously closed at $23.92.

Analyst Ratings Changes

CTRA has been the topic of several analyst reports. Truist Financial lowered their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Barclays dropped their target price on Coterra Energy from $33.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, October 3rd. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Susquehanna dropped their price objective on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Finally, UBS Group reduced their target price on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Two investment 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.24.

Coterra Energy Trading Down 5.1 %

The business has a 50 day moving average of $23.79 and a 200-day moving average of $25.69. The stock has a market cap of $16.79 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 1.49 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 issued its quarterly earnings data 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 net margin of 23.18% and a return on equity of 10.48%. The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.38 earnings per share. On average, analysts anticipate that Coterra Energy Inc. will post 1.62 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be issued a $0.21 dividend. The ex-dividend date is Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.70%. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently modified their holdings of the company. Fortitude Family Office LLC boosted its position in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Coterra Energy by 98.0% during the 2nd 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. Central Pacific Bank Trust Division acquired a new stake in shares of Coterra Energy during the first quarter worth $44,000. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the third quarter valued at $57,000. Finally, Tobam acquired a new position in Coterra Energy in the third quarter valued at $63,000. 87.92% of the stock is currently owned by hedge funds and other 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.