Coterra Energy Inc. (NYSE:CTRA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Coterra Energy Inc. (NYSE:CTRA) has been assigned an average recommendation of “Moderate Buy” from the nineteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $32.06.

A number of equities analysts have issued reports on the company. UBS Group decreased their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Wolfe Research began coverage on Coterra Energy in a report on Thursday, July 18th. They set an “outperform” rating and a $35.00 target price on the stock. BMO Capital Markets raised shares of Coterra Energy to a “hold” rating in a report on Wednesday, July 3rd. Truist Financial dropped their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Finally, Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted 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 valued at $2,243,900,000 after buying an additional 407,244 shares during the period. King Luther Capital Management Corp raised its holdings in shares of Coterra Energy by 4.4% during the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock worth $180,921,000 after acquiring an additional 285,774 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in Coterra Energy by 1.0% during the second quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after purchasing an additional 51,249 shares during the last quarter. American Century Companies Inc. grew its stake in Coterra Energy by 29.1% in the second quarter. American Century Companies Inc. now owns 4,498,227 shares of the company’s stock valued at $119,968,000 after purchasing an additional 1,013,107 shares in the last quarter. Finally, Equity Investment Corp increased its position in Coterra Energy by 0.7% in 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 last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

CTRA stock opened at $24.89 on Monday. The company has a market capitalization of $18.52 billion, a P/E ratio of 14.39, a PEG ratio of 1.41 and a beta of 0.22. The company has a 50-day simple moving average of $23.83 and a 200 day simple moving average of $26.12. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last issued its quarterly 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). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period in the prior year, the company posted $0.38 earnings per share. The company’s revenue was up 7.3% on a year-over-year basis. Sell-side analysts predict that Coterra Energy will post 1.72 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

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.