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

Shares of Coterra Energy Inc. (NYSE:CTRA) have been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation, sixteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $32.53.

Several equities research analysts recently weighed in on CTRA shares. Barclays increased 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. Piper Sandler decreased 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. UBS Group upped their target price on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research note on Friday, November 15th. Susquehanna lifted their price target on shares of Coterra Energy from $30.00 to $33.00 and gave the stock a “positive” rating in a research note on Thursday, November 14th. Finally, Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research note on Monday, December 16th.

Insiders Place Their Bets

In other news, SVP Kevin William Smith sold 29,643 shares of the 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 sale, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. This represents a 27.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Adam M. Vela sold 16,435 shares of the business’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 transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Coterra Energy by 28.4% during the 3rd quarter. Wellington Management Group LLP now owns 71,210,013 shares of the company’s stock worth $1,705,480,000 after acquiring an additional 15,736,247 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Coterra Energy by 1.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company’s stock worth $530,645,000 after purchasing an additional 305,626 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Coterra Energy by 0.7% during the third quarter. Geode Capital Management LLC now owns 19,000,702 shares of the company’s stock worth $453,628,000 after purchasing an additional 128,397 shares during the period. Victory Capital Management Inc. increased its holdings in Coterra Energy by 1.2% in the third quarter. Victory Capital Management Inc. now owns 16,963,084 shares of the company’s stock valued at $406,266,000 after purchasing an additional 195,966 shares during the last quarter. Finally, King Luther Capital Management Corp lifted its stake in Coterra Energy by 4.4% in the second quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares during the period. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Stock Up 0.2 %

Shares of CTRA stock opened at $24.64 on Friday. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The firm has a market cap of $18.15 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.64 and a beta of 0.26. The stock has a 50 day moving average of $24.99 and a 200-day moving average of $25.03.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. On average, equities analysts predict that Coterra Energy will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors 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 yield of 3.41%. Coterra Energy’s dividend payout ratio 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.