Analysts Set Coterra Energy Inc. (NYSE:CTRA) PT at $32.76

Shares of Coterra Energy Inc. (NYSE:CTRA) have been given a consensus rating of “Moderate Buy” by the nineteen research firms that are covering the firm, MarketBeat.com reports. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $33.18.

A number of brokerages recently weighed in on CTRA. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Wells Fargo & Company raised their price target on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Piper Sandler cut their target price on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, December 17th. Susquehanna boosted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research report on Thursday, November 14th. Finally, Scotiabank lowered their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th.

Insider Activity at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were 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 approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now directly 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 currently owned by company insiders.

Institutional Trading of Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. City State Bank acquired a new stake in shares of Coterra Energy in the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc lifted its stake in Coterra Energy by 192.2% during the fourth quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares in the last quarter. MCF Advisors LLC raised its stake in Coterra Energy by 230.5% during the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after purchasing an additional 869 shares during the period. R Squared Ltd acquired a new position in shares of Coterra Energy in the 4th quarter valued at about $32,000. Finally, Values First Advisors Inc. purchased a new stake in shares of Coterra Energy during the third quarter worth $57,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

Coterra Energy stock opened at $29.05 on Wednesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a fifty day simple moving average of $26.43 and a two-hundred day simple moving average of $25.10. The company has a market capitalization of $21.40 billion, a PE ratio of 17.50, a P/E/G ratio of 0.65 and a beta of 0.27. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. Research analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently declared 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 2.89%. Coterra Energy’s dividend payout ratio is presently 50.60%.

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.