Coterra Energy (NYSE:CTRA) PT Lowered to $31.00 at UBS Group

Coterra Energy (NYSE:CTRA) had its price objective decreased by UBS Group from $34.00 to $31.00 in a report released on Wednesday, Benzinga reports. UBS Group currently has a buy rating on the stock.

CTRA has been the subject of several other research reports. Roth Mkm upgraded Coterra Energy from a neutral rating to a buy rating and boosted their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Citigroup boosted their price objective on Coterra Energy from $30.00 to $31.00 and gave the stock a buy rating in a research report on Friday, May 24th. Roth Capital raised Coterra Energy from a hold rating to a strong-buy rating in a research report on Tuesday, August 27th. Wolfe Research initiated coverage on Coterra Energy in a research report on Thursday, July 18th. They set an outperform rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on Coterra Energy from $31.00 to $26.00 and set an overweight rating on the stock in a research note on Thursday, September 12th. Two research 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. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $32.59.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.66 on Wednesday. The business’s 50-day moving average price is $24.42 and its 200-day moving average price is $26.40. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.89. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.16 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 earnings results 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). The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.38 earnings per share. Equities research analysts forecast that Coterra Energy will post 1.95 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors have recently bought and sold shares of CTRA. Sanctuary Advisors LLC acquired a new position in Coterra Energy in the second quarter valued at approximately $3,420,000. New Wave Wealth Advisors LLC purchased a new position in Coterra Energy in the second quarter worth approximately $245,000. Cetera Investment Advisers lifted its position in Coterra Energy by 2.2% in the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock valued at $5,698,000 after buying an additional 4,555 shares during the last quarter. Graham Capital Wealth Management LLC increased its stake in Coterra Energy by 1.3% during the second quarter. Graham Capital Wealth Management LLC now owns 78,017 shares of the company’s stock worth $2,081,000 after purchasing an additional 977 shares during the period. Finally, Core Alternative Capital increased its stake in Coterra Energy by 13.9% during the second quarter. Core Alternative Capital now owns 82,480 shares of the company’s stock worth $2,200,000 after purchasing an additional 10,081 shares during the period. 87.92% of the stock is currently 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.