Coterra Energy (NYSE:CTRA) Price Target Lowered to $33.00 at Stephens

Coterra Energy (NYSE:CTRA) had its price target decreased by Stephens from $34.00 to $33.00 in a research report sent to investors on Tuesday,MarketScreener reports. Stephens currently has an overweight rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Roth Capital lowered their target price on shares of Coterra Energy from $27.00 to $26.00 and set a “buy” rating for the company in a research note on Wednesday, October 15th. Zacks Research downgraded shares of Coterra Energy from a “hold” rating to a “strong sell” rating in a research note on Monday, October 13th. Raymond James Financial restated an “outperform” rating and issued a $34.00 target price (down from $38.00) on shares of Coterra Energy in a research note on Thursday, September 11th. Morgan Stanley lowered their target price on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 14th. Finally, UBS Group lowered their price objective on shares of Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Sixteen analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.60.

Coterra Energy Price Performance

Shares of CTRA opened at $23.33 on Tuesday. The company has a market cap of $17.80 billion, a price-to-earnings ratio of 11.16, a price-to-earnings-growth ratio of 0.35 and a beta of 0.29. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. The company has a 50 day moving average of $23.78 and a two-hundred day moving average of $24.54.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. Coterra Energy’s revenue was up 54.6% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. As a group, analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.8%. Coterra Energy’s payout ratio is currently 42.11%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Cornerstone Planning Group LLC lifted its position in Coterra Energy by 175.6% during the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company’s stock valued at $25,000 after purchasing an additional 555 shares during the period. Raleigh Capital Management Inc. increased its holdings in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company’s stock valued at $26,000 after buying an additional 737 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in Coterra Energy in the first quarter valued at $29,000. Bogart Wealth LLC purchased a new position in Coterra Energy in the second quarter valued at $26,000. Finally, REAP Financial Group LLC increased its holdings in Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company’s stock valued at $28,000 after buying an additional 726 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile

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.