Brokerages Set Coterra Energy Inc. (NYSE:CTRA) Price Target at $32.76

Shares of Coterra Energy Inc. (NYSE:CTRA) have earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $33.18.

Several equities research analysts recently weighed in on the stock. Raymond James increased their target price on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an “outperform” rating in a report on Thursday. Piper Sandler reduced their price objective on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Stephens boosted their target price on Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, November 1st. Wells Fargo & Company lifted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Susquehanna upped their target price 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.

Insider Activity at Coterra Energy

In other 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 transaction of $775,460.88. Following the completion of 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 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 Coterra Energy stock in a transaction on Wednesday, November 20th. The shares were 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 in the company, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. 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

Large investors have recently bought and sold shares of the company. City State Bank purchased a new position in Coterra Energy during the fourth quarter worth about $26,000. AdvisorNet Financial Inc lifted its holdings in shares of Coterra Energy by 192.2% in the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after buying an additional 744 shares during the period. MCF Advisors LLC boosted its stake in shares of Coterra Energy by 230.5% in the fourth quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after buying an additional 869 shares in the last quarter. R Squared Ltd acquired a new position in Coterra Energy during the fourth quarter worth $32,000. Finally, Values First Advisors Inc. purchased a new position in Coterra Energy in the third quarter worth $57,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 0.6 %

CTRA opened at $29.05 on Wednesday. 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 $21.40 billion, a P/E ratio of 17.50, a P/E/G ratio of 0.65 and a beta of 0.27. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95. The business has a fifty day simple moving average of $26.43 and a 200-day simple moving average of $25.12.

Coterra Energy (NYSE:CTRA) last released 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 analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, equities analysts expect that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

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