Coterra Energy (NYSE:CTRA) Sets New 1-Year High on Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRAGet Free Report)’s share price reached a new 52-week high 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 trading hands. The stock had previously closed at $28.61.

A number of other equities analysts have also commented on CTRA. UBS Group raised their price target on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Piper Sandler lowered their price target on shares of Coterra Energy from $35.00 to $33.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Citigroup raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a report on Tuesday, November 26th. Morgan Stanley raised their target price on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Finally, Scotiabank decreased their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.76.

Read Our Latest Research Report on Coterra Energy

Insider Buying and Selling at Coterra Energy

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 shares were sold at an average price of $26.16, for a total value of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares in the company, valued at approximately $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 accessible through the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company’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 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. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Bruce G. Allen Investments LLC grew its holdings in shares of Coterra Energy by 17.4% in the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after purchasing an additional 450 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Coterra Energy by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after purchasing an additional 474 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Coterra Energy by 4.8% in the third quarter. SeaCrest Wealth Management LLC now owns 10,983 shares of the company’s stock worth $263,000 after purchasing an additional 505 shares during the last quarter. BCGM Wealth Management LLC lifted its stake in Coterra Energy by 0.5% in the third quarter. BCGM Wealth Management LLC now owns 101,597 shares of the company’s stock worth $2,433,000 after acquiring an additional 514 shares during the period. Finally, Avidian Wealth Enterprises LLC lifted its stake in Coterra Energy by 6.7% in the third quarter. Avidian Wealth Enterprises LLC now owns 8,358 shares of the company’s stock worth $200,000 after acquiring an additional 523 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The company has a market cap of $21.38 billion, a PE ratio of 17.48, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The business has a 50 day moving average of $25.64 and a 200 day moving average of $24.93.

Coterra Energy (NYSE:CTRAGet Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion during the quarter, compared to the consensus estimate of $1.28 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Coterra Energy’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid 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 dividend payout ratio (DPR) is presently 50.60%.

Coterra Energy Company Profile

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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.

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