JPMorgan Chase & Co. Cuts Coterra Energy (NYSE:CTRA) Price Target to $31.00

Coterra Energy (NYSE:CTRA) had its price objective lowered by JPMorgan Chase & Co. from $34.00 to $31.00 in a research report sent to investors on Monday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

CTRA has been the topic of a number of other reports. Wolfe Research reduced their price target on shares of Coterra Energy from $36.00 to $35.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Roth Capital reaffirmed a “buy” rating and issued a $27.00 price objective on shares of Coterra Energy in a research note on Tuesday, November 4th. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 9th. Susquehanna lowered their price target on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating for the company in a research note on Monday, October 20th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a research report on Monday, December 29th. Sixteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $32.52.

Coterra Energy Trading Up 0.5%

NYSE CTRA opened at $25.32 on Monday. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock’s 50-day simple moving average is $26.09 and its two-hundred day simple moving average is $24.74. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a market capitalization of $19.27 billion, a price-to-earnings ratio of 11.67, a PEG ratio of 0.41 and a beta of 0.36.

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

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.22 dividend. The ex-dividend date was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.5%. Coterra Energy’s payout ratio is presently 40.55%.

Institutional Trading of Coterra Energy

Large investors have recently modified their holdings of the business. Bogart Wealth LLC bought a new position in Coterra Energy during the 2nd quarter valued at approximately $26,000. REAP Financial Group LLC increased its stake in shares of Coterra Energy by 190.1% during 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 during the period. GoalVest Advisory LLC bought a new position in shares of Coterra Energy during the fourth quarter valued at approximately $28,000. Winnow Wealth LLC purchased a new stake in Coterra Energy in the third quarter worth $29,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in Coterra Energy in the third quarter worth $29,000. 87.92% of the stock is owned by institutional investors.

About Coterra Energy

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.