Coterra Energy (NYSE:CTRA) Price Target Cut to $31.00 by Analysts at UBS Group

Coterra Energy (NYSE:CTRA) had its price objective lowered by UBS Group from $34.00 to $31.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Wolfe Research assumed coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an outperform rating and a $35.00 price target on the stock. Truist Financial cut their price objective on shares of Coterra Energy from $35.00 to $34.00 and set a buy rating for the company in a report on Monday, July 22nd. BMO Capital Markets upgraded shares of Coterra Energy to a hold rating in a report on Wednesday, July 3rd. Morgan Stanley cut their price objective on shares of Coterra Energy from $29.00 to $27.00 and set an equal weight rating for the company in a report on Monday, September 16th. Finally, Piper Sandler cut their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an overweight rating for the company in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy has a consensus rating of Moderate Buy and a consensus price target of $32.59.

Coterra Energy Trading Up 0.4 %

Shares of Coterra Energy stock opened at $23.66 on Wednesday. The firm has a market capitalization of $17.61 billion, a PE ratio of 13.68, a P/E/G ratio of 1.16 and a beta of 0.22. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.89. The firm’s 50-day moving average price is $24.42 and its 200 day moving average price is $26.39. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.55%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Institutional Trading of Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. Beacon Pointe Advisors LLC increased its holdings in Coterra Energy by 5.8% in the 4th quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock valued at $1,131,000 after purchasing an additional 2,420 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S boosted its position in Coterra Energy by 13.0% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 30,262 shares of the company’s stock valued at $772,000 after buying an additional 3,481 shares during the period. Gladstone Institutional Advisory LLC boosted its position in Coterra Energy by 7.8% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 8,509 shares of the company’s stock valued at $217,000 after buying an additional 615 shares during the period. Balentine LLC boosted its position in Coterra Energy by 8.4% in the 4th quarter. Balentine LLC now owns 11,863 shares of the company’s stock valued at $303,000 after buying an additional 917 shares during the period. Finally, Financial Advisors Network Inc. boosted its position in Coterra Energy by 3.6% in the 4th quarter. Financial Advisors Network Inc. now owns 14,575 shares of the company’s stock valued at $372,000 after buying an additional 501 shares during the period. 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.