Coterra Energy (NYSE:CTRA) Price Target Cut to $33.00 by Analysts at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price objective reduced by Piper Sandler from $35.00 to $33.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

CTRA has been the topic of a number of other research reports. Barclays upped their target price on shares of Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, November 14th. JPMorgan Chase & Co. reduced their target price on Coterra Energy from $31.00 to $26.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th. Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Truist Financial raised their price objective on Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Finally, Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $32.53.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $24.52 on Tuesday. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $28.90. The business has a 50 day moving average price of $25.00 and a two-hundred day moving average price of $25.19. The firm has a market cap of $18.06 billion, a PE ratio of 14.56, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last released its quarterly 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 analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.47 EPS. Sell-side analysts expect that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a dividend of $0.21 per share. 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 3.43%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insider Transactions at Coterra Energy

In other news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 directly owns 72,409 shares in the company, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 transaction of $775,460.88. Following the transaction, the senior vice president now owns 77,075 shares in the company, valued at $2,016,282. This represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds have recently modified their holdings of CTRA. Larson Financial Group LLC boosted its stake in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after buying an additional 535 shares in the last quarter. Values First Advisors Inc. bought a new position in shares of Coterra Energy during the 3rd quarter valued at about $57,000. Family Firm Inc. acquired a new position in shares of Coterra Energy in the 2nd quarter worth approximately $68,000. Tobam acquired a new stake in Coterra Energy during the third quarter valued at approximately $63,000. Finally, Capital Performance Advisors LLP bought a new stake in Coterra Energy during the third quarter worth approximately $67,000. 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.