Coterra Energy (NYSE:CTRA) Price Target Lowered to $36.00 at Mizuho

Coterra Energy (NYSE:CTRA) had its price objective trimmed by Mizuho from $38.00 to $36.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts also recently weighed in on CTRA. Scotiabank cut their price target on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a research note on Friday, April 11th. Bank of America cut their price target on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Piper Sandler increased their price target on shares of Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research note on Thursday, March 6th. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Finally, Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and increased their price target for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.50.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.77 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The company has a market capitalization of $18.91 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 0.59 and a beta of 0.33. The company’s 50 day simple moving average is $26.26 and its 200 day simple moving average is $26.39. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.09. The business 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, sell-side analysts predict that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy’s payout ratio is 51.16%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the sale, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This trade represents a 19.52% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 directly owns 126,770 shares of the company’s stock, valued at approximately $3,374,617.40. The trade was a 21.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently added to or reduced their stakes in CTRA. Barclays PLC boosted its stake in Coterra Energy by 3.1% during the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after acquiring an additional 64,753 shares during the last quarter. Czech National Bank boosted its stake in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after acquiring an additional 9,115 shares during the last quarter. City State Bank bought a new position in Coterra Energy during the 4th quarter valued at $26,000. Wedmont Private Capital bought a new position in Coterra Energy during the 4th quarter valued at $291,000. Finally, Pallas Capital Advisors LLC bought a new position in Coterra Energy during the 4th quarter valued at $209,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.