Coterra Energy (NYSE:CTRA) Price Target Cut to $27.00 by Analysts at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective reduced by Morgan Stanley from $29.00 to $27.00 in a research report released on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other brokerages also recently weighed in on CTRA. Bank of America restated a buy rating and set a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. JPMorgan Chase & Co. reduced their price objective on shares of Coterra Energy from $31.00 to $26.00 and set an overweight rating for the company in a research report on Thursday, September 12th. BMO Capital Markets raised shares of Coterra Energy to a hold rating in a research report on Wednesday, July 3rd. Piper Sandler reduced their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an overweight rating for the company in a research report on Thursday, August 15th. Finally, Roth Capital raised shares of Coterra Energy from a hold rating to a strong-buy rating in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $32.59.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.57 on Monday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market capitalization of $17.54 billion, a P/E ratio of 13.62, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22. The company’s 50 day moving average price is $24.49 and its two-hundred day moving average price is $26.42. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The company had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. During the same quarter last year, the business posted $0.38 earnings per share. The business’s quarterly revenue was up 7.3% on a year-over-year basis. On average, analysts expect that Coterra Energy will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.56%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sanctuary Advisors LLC acquired a new position in shares of Coterra Energy in the second quarter valued at approximately $3,420,000. New Wave Wealth Advisors LLC acquired a new position in shares of Coterra Energy in the second quarter valued at approximately $245,000. Cetera Investment Advisers increased its stake in shares of Coterra Energy by 2.2% in the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock valued at $5,698,000 after buying an additional 4,555 shares during the period. Graham Capital Wealth Management LLC increased its stake in shares of Coterra Energy by 1.3% in the second quarter. Graham Capital Wealth Management LLC now owns 78,017 shares of the company’s stock valued at $2,081,000 after buying an additional 977 shares during the period. Finally, Core Alternative Capital boosted its holdings in Coterra Energy by 13.9% in the second quarter. Core Alternative Capital now owns 82,480 shares of the company’s stock valued at $2,200,000 after acquiring an additional 10,081 shares during 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.