Coterra Energy Inc. (NYSE:CTRA) Receives $32.59 Consensus PT from Brokerages

Coterra Energy Inc. (NYSE:CTRA) has been given a consensus rating of “Moderate Buy” by the nineteen brokerages that are covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $32.59.

Several equities research analysts have issued reports on CTRA shares. Wolfe Research started coverage on Coterra Energy in a research note on Thursday, July 18th. They set an “outperform” rating and a $35.00 price target for the company. Truist Financial reduced their target price on shares of Coterra Energy from $35.00 to $34.00 and set a “buy” rating on the stock in a report on Monday, July 22nd. Roth Capital upgraded shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. cut their price target 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. Finally, Roth Mkm upgraded Coterra Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th.

Coterra Energy Stock Up 1.4 %

Coterra Energy stock opened at $23.99 on Thursday. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.89. 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 firm’s 50-day simple moving average is $24.36 and its 200 day simple moving average is $26.38. The stock has a market cap of $17.85 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.16 and a beta of 0.22.

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

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.50%. Coterra Energy’s payout ratio is currently 48.55%.

Institutional Trading of Coterra Energy

Institutional investors have recently made changes to their positions in the business. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after acquiring an additional 567 shares during the last quarter. Larson Financial Group LLC boosted its stake in Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares during the period. Central Pacific Bank Trust Division bought a new position in Coterra Energy during the first quarter valued at $44,000. Harbor Investment Advisory LLC lifted its holdings in shares of Coterra Energy by 869.3% in the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Coterra Energy during the 1st quarter worth about $47,000. 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.