Coterra Energy Inc. (NYSE:CTRA) Receives $32.33 Consensus Target Price from Analysts

Coterra Energy Inc. (NYSE:CTRA) has received a consensus recommendation of “Moderate Buy” from the fifteen analysts that are presently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $32.47.

A number of brokerages recently weighed in on CTRA. UBS Group lifted their target price on Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial reduced their price objective on Coterra Energy from $30.00 to $27.00 and set a “hold” rating on the stock in a research note on Friday, April 5th. Scotiabank boosted their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “sector outperform” rating in a research note on Thursday, April 11th. Stifel Nicolaus reduced their price objective on Coterra Energy from $33.00 to $31.00 and set a “buy” rating on the stock in a research note on Friday, March 22nd. Finally, Morgan Stanley boosted their price objective on Coterra Energy from $26.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 17th.

Coterra Energy Price Performance

Shares of Coterra Energy stock opened at $28.28 on Monday. Coterra Energy has a twelve month low of $22.91 and a twelve month high of $29.89. The stock has a market capitalization of $21.26 billion, a P/E ratio of 13.21 and a beta of 0.21. The company has a current ratio of 1.21, a quick ratio of 1.18 and a debt-to-equity ratio of 0.12. The business’s fifty day moving average price is $27.10 and its 200 day moving average price is $26.44.

Coterra Energy (NYSE:CTRA) last issued its earnings results on Thursday, February 22nd. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.06). Coterra Energy had a net margin of 27.48% and a return on equity of 12.97%. The firm had revenue of $1.60 billion during the quarter, compared to analyst estimates of $1.54 billion. As a group, research analysts anticipate that Coterra Energy will post 1.87 earnings per share for the current year.

Coterra Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were paid a $0.21 dividend. This is a boost from Coterra Energy’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Wednesday, March 13th. This represents a $0.84 annualized dividend and a dividend yield of 2.97%. Coterra Energy’s payout ratio is 39.25%.

Insider Buying and Selling

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at $4,783,071.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Coterra Energy news, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $26.06, for a total transaction of $364,840.00. Following the sale, the vice president now owns 93,988 shares in the company, valued at $2,449,327.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Institutional investors and hedge funds have recently bought and sold shares of the company. Pinnacle Associates Ltd. raised its position in shares of Coterra Energy by 8.6% during the 1st quarter. Pinnacle Associates Ltd. now owns 14,594 shares of the company’s stock worth $407,000 after purchasing an additional 1,151 shares during the period. MONECO Advisors LLC raised its position in shares of Coterra Energy by 13.2% during the 1st quarter. MONECO Advisors LLC now owns 19,932 shares of the company’s stock worth $556,000 after purchasing an additional 2,328 shares during the period. Meridian Wealth Management LLC raised its position in shares of Coterra Energy by 3.0% during the 1st quarter. Meridian Wealth Management LLC now owns 18,887 shares of the company’s stock worth $527,000 after purchasing an additional 552 shares during the period. Cascade Investment Advisors Inc. raised its position in shares of Coterra Energy by 2.2% during the 1st quarter. Cascade Investment Advisors Inc. now owns 52,265 shares of the company’s stock worth $1,457,000 after purchasing an additional 1,125 shares during the period. Finally, Krilogy Financial LLC acquired a new stake in shares of Coterra Energy during the 1st quarter worth approximately $494,000. Institutional investors and hedge funds 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.