JPMorgan Chase & Co. Cuts Coterra Energy (NYSE:CTRA) Price Target to $34.00

Coterra Energy (NYSE:CTRA) had its price target decreased by JPMorgan Chase & Co. from $35.00 to $34.00 in a research note released on Wednesday morning,MarketScreener reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on CTRA. Morgan Stanley dropped their price objective on shares of Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 14th. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 9th. Mizuho decreased their price objective on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Raymond James Financial lowered their target price on Coterra Energy from $34.00 to $28.00 in a research report on Tuesday, October 28th. Finally, The Goldman Sachs Group reduced their price target on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research report on Wednesday, October 15th. Seventeen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $32.43.

Coterra Energy Stock Performance

CTRA traded up $0.24 on Wednesday, hitting $26.61. 9,296,217 shares of the company’s stock were exchanged, compared to its average volume of 7,561,903. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $23.92 and a two-hundred day moving average of $24.46. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The firm has a market cap of $20.30 billion, a PE ratio of 12.73, a P/E/G ratio of 0.36 and a beta of 0.30.

Coterra Energy (NYSE:CTRA) last posted its 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). The company had revenue of $558.00 million for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The firm’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same period last year, the company posted $0.32 earnings per share. On average, research analysts anticipate that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.3%. Coterra Energy’s payout ratio is currently 40.55%.

Institutional Trading of Coterra Energy

A number of large investors have recently added to or reduced their stakes in CTRA. Advisors Asset Management Inc. lifted its position in shares of Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after acquiring an additional 398 shares during the last quarter. Profund Advisors LLC raised its position in shares of Coterra Energy by 1.4% during the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after purchasing an additional 418 shares during the period. AAFMAA Wealth Management & Trust LLC lifted its holdings in shares of Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after purchasing an additional 429 shares during the last quarter. Trust Co. of Vermont lifted its holdings in shares of Coterra Energy by 1.5% during the third quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock valued at $729,000 after purchasing an additional 454 shares during the last quarter. Finally, Tectonic Advisors LLC boosted its position in shares of Coterra Energy by 3.2% in the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock valued at $429,000 after purchasing an additional 459 shares during the period. 87.92% of the stock is currently owned by institutional investors.

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.