Coterra Energy (NYSE:CTRA) Rating Increased to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of Coterra Energy (NYSE:CTRAGet Rating) from a hold rating to a buy rating in a research note released on Monday morning, Zacks.com reports. The firm currently has $32.00 price objective on the stock.

According to Zacks, “Coterra Energy Inc. is a premier, diversified energy company. Coterra Energy Inc., formerly known as Cabot Oil & Gas Corporation, is based in HOUSTON, Texas. “

A number of other equities analysts have also recently weighed in on CTRA. Piper Sandler increased their price target on Coterra Energy from $26.00 to $31.00 and gave the stock a neutral rating in a report on Thursday, April 7th. Barclays increased their price target on Coterra Energy from $29.00 to $35.00 in a report on Tuesday, April 19th. Susquehanna Bancshares cut Coterra Energy from a positive rating to a neutral rating and raised their target price for the company from $26.00 to $32.00 in a report on Monday, April 25th. Morgan Stanley raised their target price on Coterra Energy from $25.00 to $30.00 and gave the company an equal weight rating in a report on Friday, April 22nd. Finally, Wells Fargo & Company raised their target price on Coterra Energy from $31.00 to $37.00 and gave the company an overweight rating in a report on Monday, March 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Coterra Energy presently has a consensus rating of Hold and an average price target of $33.23.

NYSE CTRA opened at $28.92 on Monday. The stock has a market cap of $23.45 billion, a PE ratio of 16.81, a P/E/G ratio of 0.13 and a beta of -0.17. The company has a current ratio of 1.75, a quick ratio of 1.72 and a debt-to-equity ratio of 0.27. Coterra Energy has a twelve month low of $14.28 and a twelve month high of $31.42. The stock has a fifty day simple moving average of $26.83 and a 200-day simple moving average of $23.14.

Coterra Energy (NYSE:CTRAGet Rating) last released its quarterly earnings results on Monday, May 2nd. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.18. Coterra Energy had a return on equity of 23.16% and a net margin of 33.58%. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Research analysts predict that Coterra Energy will post 4 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, March 17th. Stockholders of record on Monday, March 7th were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date was Friday, March 4th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.13. Coterra Energy’s dividend payout ratio (DPR) is presently 34.88%.

In other news, VP Christopher Clason sold 10,000 shares of Coterra Energy stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $27.05, for a total value of $270,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Todd M. Roemer sold 69,385 shares of Coterra Energy stock in a transaction dated Friday, March 4th. The shares were sold at an average price of $26.11, for a total value of $1,811,642.35. The disclosure for this sale can be found here. Insiders sold a total of 144,385 shares of company stock valued at $3,825,792 in the last quarter. Company insiders own 1.60% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of CTRA. First Trust Advisors LP acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $261,000. Deltec Asset Management LLC acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $270,000. Cascade Investment Advisors Inc. acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $1,464,000. Oakworth Capital Inc. acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $432,000. Finally, Brookstone Capital Management acquired a new stake in shares of Coterra Energy during the 1st quarter worth about $716,000. 93.40% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Company Profile (Get Rating)

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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.

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