Coterra Energy (NYSE:CTRA) Reaches New 12-Month High Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) shares hit a new 52-week high during 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 changing hands. The stock had previously closed at $28.61.

Other analysts also recently issued reports about the company. Mizuho increased their price target on Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Stephens raised their price target on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, November 1st. Scotiabank dropped their price objective on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Piper Sandler lowered their price target on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Finally, UBS Group raised their price target on Coterra Energy from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Two research 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’s stock. Based on data from MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and an average target price of $32.76.

Insiders Place Their Bets

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total value of $775,460.88. Following the sale, 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction 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 sale, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Institutional investors have recently added to or reduced their stakes in the business. HB Wealth Management LLC lifted its holdings in shares of Coterra Energy by 12.5% during the 4th quarter. HB Wealth Management LLC now owns 9,583 shares of the company’s stock valued at $245,000 after buying an additional 1,061 shares during the period. Arkadios Wealth Advisors raised its holdings in Coterra Energy by 3.8% in the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company’s stock worth $288,000 after purchasing an additional 413 shares during the period. Merit Financial Group LLC bought a new stake in Coterra Energy during the fourth quarter valued at about $257,000. Hennion & Walsh Asset Management Inc. raised its holdings in Coterra Energy by 9.4% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 61,241 shares of the company’s stock valued at $1,564,000 after acquiring an additional 5,273 shares during the period. Finally, Redhawk Wealth Advisors Inc. raised its holdings in Coterra Energy by 10.3% during the fourth quarter. Redhawk Wealth Advisors Inc. now owns 24,136 shares of the company’s stock valued at $616,000 after acquiring an additional 2,256 shares during the period. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Trading Up 0.8 %

The stock has a market cap of $21.44 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The stock has a 50-day moving average price of $25.84 and a two-hundred day moving average price of $24.98. 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 quarterly earnings data 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 firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. Sell-side analysts forecast that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 2.89%. Coterra Energy’s dividend payout ratio is currently 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.