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

Shares of Coterra Energy Inc. (NYSE:CTRA) have earned a consensus rating of “Moderate Buy” from the nineteen brokerages that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $32.53.

Several research firms recently issued reports on CTRA. Mizuho increased their target price on Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research report on Monday, December 16th. Truist Financial lifted their price objective on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. UBS Group upped their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Finally, Morgan Stanley increased their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th.

Insider Activity

In related news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The stock was 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 trade represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. grew its stake in Coterra Energy by 40.0% in the third quarter. Franklin Resources Inc. now owns 1,194,064 shares of the company’s stock worth $29,147,000 after purchasing an additional 341,180 shares in the last quarter. Synovus Financial Corp grew its position in shares of Coterra Energy by 16.0% during the 3rd quarter. Synovus Financial Corp now owns 15,837 shares of the company’s stock worth $379,000 after buying an additional 2,184 shares in the last quarter. Tidal Investments LLC increased its stake 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 valued at $3,448,000 after buying an additional 23,844 shares during the period. Blankinship & Foster LLC bought a new stake in shares of Coterra Energy in the third quarter valued at about $1,420,000. Finally, Wilmington Savings Fund Society FSB purchased a new stake in Coterra Energy in the third quarter worth about $621,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

CTRA opened at $25.52 on Friday. The firm has a market cap of $18.80 billion, a P/E ratio of 15.37, a PEG ratio of 1.64 and a beta of 0.27. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $28.90. The company has a 50 day simple moving average of $25.04 and a two-hundred day simple moving average of $24.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA) last issued 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 the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. Equities analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Coterra Energy Company Profile

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.