Morgan Stanley Lowers Coterra Energy (NYSE:CTRA) Price Target to $30.00

Coterra Energy (NYSE:CTRA) had its target price cut by Morgan Stanley from $32.00 to $30.00 in a report issued on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also recently issued reports on CTRA. JPMorgan Chase & Co. dropped their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research note on Thursday, March 13th. Truist Financial increased their price target on Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. The Goldman Sachs Group boosted their price objective on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Jefferies Financial Group raised their target price on Coterra Energy from $26.00 to $28.00 and gave the stock a “hold” rating in a research note on Tuesday, February 4th. Finally, Mizuho upped their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Three investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $34.35.

Coterra Energy Trading Down 1.2 %

Shares of CTRA opened at $28.51 on Thursday. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $29.95. The stock has a market cap of $21.79 billion, a PE ratio of 17.18, a price-to-earnings-growth ratio of 0.59 and a beta of 0.26. The firm’s fifty day moving average is $27.93 and its two-hundred day moving average is $25.97. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were given a $0.22 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.09%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio is currently 58.28%.

Insider Activity

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This trade represents a 21.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52 % 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.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CTRA. Wellington Management Group LLP raised its holdings in shares of Coterra Energy by 1.9% in the 4th quarter. Wellington Management Group LLP now owns 72,528,767 shares of the company’s stock valued at $1,852,385,000 after purchasing an additional 1,318,754 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Coterra Energy by 5.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 23,467,326 shares of the company’s stock valued at $599,356,000 after buying an additional 1,310,965 shares during the last quarter. Geode Capital Management LLC raised its stake in Coterra Energy by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 19,096,761 shares of the company’s stock valued at $486,528,000 after buying an additional 96,059 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Coterra Energy by 5.0% during the 4th quarter. Victory Capital Management Inc. now owns 17,808,693 shares of the company’s stock worth $454,834,000 after buying an additional 845,609 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Coterra Energy by 9.0% during the 4th quarter. Invesco Ltd. now owns 12,232,484 shares of the company’s stock worth $312,418,000 after acquiring an additional 1,011,166 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.