Coterra Energy (NYSE:CTRA) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company started coverage on shares of Coterra Energy (NYSE:CTRA – Get Rating) in a research note issued to investors on Tuesday morning, The Fly reports. The firm issued an equal weight rating on the stock.

Several other analysts have also recently issued reports on CTRA. Citigroup cut shares of Coterra Energy from a neutral rating to a sell rating and lowered their target price for the stock from $27.00 to $23.00 in a research note on Wednesday, December 7th. Morgan Stanley lowered their price objective on shares of Coterra Energy from $31.00 to $28.00 and set an equal weight rating on the stock in a research report on Tuesday. Stifel Nicolaus assumed coverage on shares of Coterra Energy in a research report on Tuesday, October 25th. They set a buy rating and a $40.00 price objective on the stock. Tudor, Pickering, Holt & Co. cut shares of Coterra Energy from a buy rating to a hold rating in a research report on Wednesday, November 30th. Finally, Jefferies Financial Group assumed coverage on shares of Coterra Energy in a research report on Wednesday, October 19th. They set a hold rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $32.20.

Coterra Energy Stock Performance

NYSE CTRA opened at $25.20 on Tuesday. Coterra Energy has a 1 year low of $19.26 and a 1 year high of $36.55. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.66 and a quick ratio of 1.62. The stock has a market capitalization of $19.87 billion, a PE ratio of 5.09, a P/E/G ratio of 0.13 and a beta of 0.25. The company’s 50 day simple moving average is $25.50 and its two-hundred day simple moving average is $27.78.

Coterra Energy (NYSE:CTRA – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.05. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. The business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.43 billion. Analysts predict that Coterra Energy will post 4.87 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th were given a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 10.79%. The ex-dividend date of this dividend was Tuesday, November 15th. This is a boost from Coterra Energy’s previous quarterly dividend of $0.15. Coterra Energy’s dividend payout ratio (DPR) is presently 12.12%.

Insider Buying and Selling

In related news, Director Hans Helmerich sold 5,000 shares of Coterra Energy stock in a transaction on Thursday, December 1st. The shares were sold at an average price of $27.64, for a total value of $138,200.00. Following the transaction, the director now owns 225,755 shares in the company, valued at approximately $6,239,868.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

Large investors have recently added to or reduced their stakes in the company. Adirondack Trust Co. bought a new stake in Coterra Energy in the 4th quarter worth $25,000. Accurate Wealth Management LLC bought a new stake in Coterra Energy in the 4th quarter worth $28,000. Patriot Financial Group Insurance Agency LLC grew its holdings in Coterra Energy by 239.3% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock worth $29,000 after acquiring an additional 780 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in Coterra Energy by 100.3% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,164 shares of the company’s stock worth $30,000 after acquiring an additional 583 shares during the last quarter. Finally, Guardian Wealth Advisors LLC bought a new stake in Coterra Energy in the 3rd quarter worth $30,000. Institutional investors own 94.72% of the company’s stock.

About Coterra Energy

(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.