Coterra Energy (NYSE:CTRA) Price Target Lowered to $35.00 at Barclays

Coterra Energy (NYSE:CTRA) had its price objective trimmed by Barclays from $37.00 to $35.00 in a research report report published on Tuesday morning, MarketBeat.com reports. The firm currently has an overweight rating on the stock.

Several other research firms have also issued reports on CTRA. Bank of America cut their target price on Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. cut their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Piper Sandler increased their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an “overweight” rating in a research report on Thursday, March 6th. Raymond James cut their price target on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. Finally, Morgan Stanley set a $28.00 price objective on Coterra Energy in a report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.85.

Coterra Energy Stock Down 9.1 %

NYSE:CTRA opened at $22.98 on Tuesday. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. Coterra Energy has a 1-year low of $22.30 and a 1-year high of $29.95. The company has a 50-day moving average of $26.51 and a 200 day moving average of $26.38. The firm has a market cap of $17.56 billion, a PE ratio of 13.84, a price-to-earnings-growth ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to the consensus estimate of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s quarterly revenue was up 32.9% on a year-over-year basis. During the same period last year, the firm earned $0.51 earnings per share. As a group, research analysts anticipate that Coterra Energy will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.83%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy’s dividend payout ratio is currently 58.28%.

Insider Activity

In related news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently bought and sold shares of the business. Dark Forest Capital Management LP acquired a new stake in Coterra Energy in the 4th quarter worth about $942,000. State of Tennessee Department of Treasury boosted its stake in shares of Coterra Energy by 7.1% in the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company’s stock worth $12,075,000 after acquiring an additional 31,425 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Coterra Energy during the fourth quarter worth approximately $641,000. Czech National Bank raised its stake in Coterra Energy by 6.1% in the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Finally, Bourgeon Capital Management LLC lifted its holdings in Coterra Energy by 107.0% in the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.