UBS Group Lowers Coterra Energy (NYSE:CTRA) Price Target to $34.00

Coterra Energy (NYSE:CTRA) had its target price cut by UBS Group from $36.00 to $34.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also issued reports on the stock. Wolfe Research assumed coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They set an outperform rating and a $35.00 price target on the stock. Morgan Stanley increased their price objective on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an equal weight rating in a research note on Wednesday, April 17th. Bank of America reiterated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a research note on Friday, June 14th. Barclays initiated coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They issued an overweight rating and a $36.00 price objective on the stock. Finally, Mizuho raised their price target on shares of Coterra Energy from $37.00 to $41.00 and gave the stock a buy rating in a research note on Monday, May 13th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy currently has a consensus rating of Moderate Buy and a consensus target price of $34.06.

Coterra Energy Stock Up 0.4 %

Shares of NYSE CTRA traded up $0.10 during trading hours on Thursday, hitting $24.09. 6,219,708 shares of the stock were exchanged, compared to its average volume of 6,470,637. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The company has a market cap of $17.93 billion, a PE ratio of 13.93, a PEG ratio of 1.49 and a beta of 0.24. The firm has a fifty day moving average price of $26.56 and a 200-day moving average price of $26.68. Coterra Energy has a 12 month low of $23.18 and a 12 month high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.49% and a net margin of 23.18%. The company’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.38 EPS. On average, sell-side analysts expect that Coterra Energy will post 2.02 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.49%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after purchasing an additional 407,244 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Coterra Energy by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after purchasing an additional 848,519 shares during the period. Schroder Investment Management Group grew its stake in shares of Coterra Energy by 8.7% during the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock worth $199,455,000 after purchasing an additional 628,132 shares during the period. American Century Companies Inc. grew its stake in shares of Coterra Energy by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock worth $119,968,000 after purchasing an additional 1,013,107 shares during the period. Finally, Equity Investment Corp grew its stake in shares of Coterra Energy by 0.7% during the 2nd quarter. Equity Investment Corp now owns 3,227,678 shares of the company’s stock worth $86,082,000 after purchasing an additional 22,017 shares during the period. 87.92% of the stock is owned by institutional investors and hedge funds.

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.