Coterra Energy (NYSE:CTRA) Sees Unusually-High Trading Volume Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) shares saw unusually-strong trading volume on Thursday after Mizuho raised their price target on the stock from $33.00 to $36.00. Mizuho currently has an outperform rating on the stock. Approximately 30,888,781 shares traded hands during mid-day trading, an increase of 190% from the previous session’s volume of 10,639,823 shares.The stock last traded at $25.8470 and had previously closed at $25.36.

CTRA has been the topic of several other research reports. Johnson Rice reduced their target price on shares of Coterra Energy from $38.00 to $37.00 in a report on Friday, December 5th. William Blair started coverage on Coterra Energy in a research report on Wednesday, November 26th. They issued an “outperform” rating and a $36.00 price objective on the stock. Piper Sandler reduced their price objective on Coterra Energy from $38.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 18th. Zacks Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a research note on Monday, December 1st. Finally, Roth Capital reiterated a “buy” rating and set a $27.00 target price on shares of Coterra Energy in a report on Tuesday, November 4th. Sixteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, Coterra Energy presently has a consensus rating of “Moderate Buy” and an average price target of $32.62.

Institutional Trading of Coterra Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont boosted its position in shares of Coterra Energy by 21.4% during the 4th quarter. Trust Co. of Vermont now owns 37,444 shares of the company’s stock valued at $986,000 after purchasing an additional 6,612 shares in the last quarter. Kwmg LLC lifted its stake in Coterra Energy by 4.9% during the fourth quarter. Kwmg LLC now owns 244,905 shares of the company’s stock valued at $6,446,000 after purchasing an additional 11,369 shares during the last quarter. Bourgeon Capital Management LLC boosted its holdings in Coterra Energy by 0.4% during the fourth quarter. Bourgeon Capital Management LLC now owns 295,715 shares of the company’s stock worth $7,783,000 after buying an additional 1,285 shares in the last quarter. BTC Capital Management Inc. grew its position in Coterra Energy by 12.7% in the fourth quarter. BTC Capital Management Inc. now owns 135,233 shares of the company’s stock worth $3,557,000 after buying an additional 15,231 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in shares of Coterra Energy by 11.4% in the fourth quarter. Nisa Investment Advisors LLC now owns 309,147 shares of the company’s stock valued at $8,137,000 after buying an additional 31,738 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Price Performance

The company has a market cap of $19.59 billion, a price-to-earnings ratio of 11.86, a P/E/G ratio of 0.45 and a beta of 0.36. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $26.06 and a 200 day moving average price of $24.75.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.83 billion. During the same quarter last year, the company posted $0.32 EPS. The firm’s revenue was up 33.7% compared to the same quarter last year. As a group, research analysts expect that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a yield of 3.4%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.