Coterra Energy (NYSE:CTRA) Reaches New 52-Week High After Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA)’s stock price hit a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $33.00 to $37.00. Truist Financial currently has a buy rating on the stock. Coterra Energy traded as high as $29.10 and last traded at $29.05, with a volume of 552051 shares trading hands. The stock had previously closed at $28.61.

Several other research firms also recently issued reports on CTRA. 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 report on Thursday, November 14th. Citigroup raised their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research note on Tuesday, November 26th. Piper Sandler lowered their price objective on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Scotiabank reduced their target price on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 10th. Finally, Barclays raised their target price on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a research report on Thursday, November 14th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $32.76.

Insider Transactions at Coterra Energy

In related news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction dated 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction 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. The trade was 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 Investors Weigh In On Coterra Energy

A number of institutional investors have recently made changes to their positions in CTRA. DekaBank Deutsche Girozentrale increased its holdings in Coterra Energy by 36.5% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 250,833 shares of the company’s stock valued at $6,706,000 after purchasing an additional 67,045 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new position in shares of Coterra Energy during the second quarter worth $351,000. Envestnet Asset Management Inc. grew its stake in shares of Coterra Energy by 7.4% in the second quarter. Envestnet Asset Management Inc. now owns 2,331,045 shares of the company’s stock valued at $62,169,000 after buying an additional 161,463 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Coterra Energy in the 2nd quarter valued at $862,000. Finally, Meiji Yasuda Life Insurance Co acquired a new position in Coterra Energy during the 2nd quarter worth about $413,000. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 1.0 %

The company has a market capitalization of $21.28 billion, a PE ratio of 17.40, a PEG ratio of 1.64 and a beta of 0.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The business has a fifty day moving average of $25.75 and a 200 day moving average of $24.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period in the previous year, the business posted $0.47 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts anticipate that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a dividend yield of 2.91%. Coterra Energy’s dividend payout ratio (DPR) is 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.