Coterra Energy Inc. (NYSE:CTRA) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Coterra Energy Inc. (NYSE:CTRA) have earned a consensus rating of “Moderate Buy” from the nineteen ratings firms that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation, sixteen have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $32.53.

Several brokerages recently commented on CTRA. Morgan Stanley boosted their price target on Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 14th. Citigroup upped their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Susquehanna boosted their price objective on Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Barclays raised their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This trade represents a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of Coterra Energy by 28.4% during the third quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. increased its position in Coterra Energy by 1.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the period. Geode Capital Management LLC raised its stake in shares of Coterra Energy by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after buying an additional 128,397 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Coterra Energy by 1.2% in the 3rd quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after buying an additional 195,966 shares during the period. Finally, King Luther Capital Management Corp boosted its stake in shares of Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

NYSE:CTRA opened at $26.24 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market capitalization of $19.33 billion, a PE ratio of 15.81, a P/E/G ratio of 1.64 and a beta of 0.27. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The company has a fifty day moving average of $25.20 and a two-hundred day moving average of $24.95.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share 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 company had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter last year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, research analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.20%. Coterra Energy’s payout ratio is 50.60%.

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.