Coterra Energy (NYSE:CTRA) Trading Down 4.3% – Here’s Why

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

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CTRA shares. UBS Group dropped their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Susquehanna reduced their target price on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a report on Wednesday, September 4th. Roth Capital upgraded Coterra Energy from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 27th. Stephens lifted their price objective on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Wells Fargo & Company dropped their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Two equities research 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 company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $31.24.

Coterra Energy Stock Down 5.1 %

The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 13.68, a P/E/G ratio of 1.49 and a beta of 0.22. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The firm has a 50 day moving average price of $23.79 and a two-hundred day moving average price of $25.69.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business earned $0.38 EPS. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.62 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.70%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s payout ratio is currently 50.60%.

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. Fortitude Family Office LLC grew its holdings 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 acquiring an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% during the second 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 last quarter. Central Pacific Bank Trust Division acquired a new position in Coterra Energy in the first quarter worth about $44,000. Values First Advisors Inc. bought a new stake in Coterra Energy in the third quarter valued at about $57,000. Finally, Tobam acquired a new stake in Coterra Energy during the third quarter valued at approximately $63,000. 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.