Analysts Set Coterra Energy Inc. (NYSE:CTRA) PT at $32.53

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

Several brokerages recently issued reports on CTRA. Scotiabank reduced their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. UBS Group upped their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a report on Friday, November 15th. Susquehanna increased their price objective on shares of Coterra Energy from $30.00 to $33.00 and gave the company a “positive” rating in a research report on Thursday, November 14th. Citigroup boosted their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley raised their price target on shares of Coterra Energy from $27.00 to $29.00 and gave the stock an “equal weight” rating in a report on Thursday, November 14th.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s 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 sale, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

A number of large investors have recently added to or reduced their stakes in CTRA. Franklin Resources Inc. boosted its holdings in Coterra Energy by 40.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock worth $29,147,000 after buying an additional 341,180 shares during the last quarter. Synovus Financial Corp boosted its stake in shares of Coterra Energy by 16.0% in the third quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock worth $379,000 after acquiring an additional 2,184 shares during the last quarter. Tidal Investments LLC increased its position in shares of Coterra Energy by 19.9% during the third quarter. Tidal Investments LLC now owns 143,947 shares of the company’s stock worth $3,448,000 after purchasing an additional 23,844 shares in the last quarter. Blankinship & Foster LLC acquired a new position in Coterra Energy in the 3rd quarter valued at $1,420,000. Finally, Wilmington Savings Fund Society FSB purchased a new position in Coterra Energy in the 3rd quarter valued at $621,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Performance

CTRA stock opened at $25.54 on Friday. Coterra Energy has a one year low of $22.30 and a one year high of $28.90. The firm has a market cap of $18.81 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 1.64 and a beta of 0.27. 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 firm has a 50-day simple moving average of $25.11 and a two-hundred day simple moving average of $24.95.

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 the consensus estimate of $0.35 by ($0.03). The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $0.47 earnings per share. On average, equities analysts forecast that Coterra Energy will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.29%. 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.