Coterra Energy (NYSE:CTRA) Price Target Cut to $33.00 by Analysts at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price objective lowered by Piper Sandler from $35.00 to $33.00 in a research report report published on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other analysts also recently commented on CTRA. Wells Fargo & Company boosted their target price on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. Stephens boosted their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Susquehanna upped their price target 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. Finally, Truist Financial increased their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.52 on Tuesday. 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 has a 52-week low of $22.30 and a 52-week high of $28.90. The company has a 50-day simple moving average of $25.00 and a 200-day simple moving average of $25.19. The company has a market capitalization of $18.06 billion, a PE ratio of 14.56, a P/E/G ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, October 31st. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The company had revenue of $1.36 billion during 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 quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the business posted $0.47 earnings per share. Equities research analysts predict that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.43%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s dividend payout ratio is currently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of Coterra Energy 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 transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 sale, the senior vice president now owns 72,409 shares of the company’s stock, 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. Corporate insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in CTRA. Fifth Third Bancorp lifted its stake in shares of Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after purchasing an additional 399 shares in the last quarter. Cornercap Investment Counsel Inc. lifted its position in Coterra Energy by 0.7% during the 2nd quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after acquiring an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Coterra Energy by 17.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the period. Venturi Wealth Management LLC grew its position in Coterra Energy by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock valued at $804,000 after acquiring an additional 474 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its position in Coterra Energy by 4.8% in the third quarter. SeaCrest Wealth Management LLC now owns 10,983 shares of the company’s stock valued at $263,000 after acquiring an additional 505 shares in the last quarter. Institutional investors and hedge funds 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.