Coterra Energy Inc. (NYSE:CTRA) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Coterra Energy Inc. (NYSE:CTRA) has earned a consensus recommendation of “Moderate Buy” from the nineteen research firms that are covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $31.29.

Several brokerages recently commented on CTRA. JPMorgan Chase & Co. reduced their target price on shares of Coterra Energy from $31.00 to $26.00 and set an “overweight” rating for the company in a report on Thursday, September 12th. Scotiabank cut their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research note on Thursday, October 10th. Wolfe Research initiated coverage on shares of Coterra Energy in a research note on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Mizuho increased their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Truist Financial cut their price target on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, September 30th.

Hedge Funds Weigh In On Coterra Energy

A number of hedge funds have recently bought and sold shares of the business. Fifth Third Bancorp increased its position in Coterra Energy by 0.6% during the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after acquiring an additional 399 shares during the period. TCW Group Inc. increased its position in Coterra Energy by 4.0% during the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after acquiring an additional 404 shares during the period. Redwood Wealth Management Group LLC increased its position in Coterra Energy by 2.3% during the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after acquiring an additional 429 shares during the period. Cornercap Investment Counsel Inc. increased its position in Coterra Energy by 0.7% during the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after acquiring an additional 436 shares during the period. Finally, Bruce G. Allen Investments LLC increased its position in Coterra Energy by 17.4% during the third quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after acquiring an additional 450 shares during the period. 87.92% of the stock is owned by institutional investors.

Coterra Energy Stock Performance

Shares of CTRA opened at $24.41 on Friday. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The firm has a fifty day simple moving average of $23.76 and a 200 day simple moving average of $25.60. The stock has a market capitalization of $17.98 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 1.42 and a beta of 0.22. The company has a current ratio of 1.61, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the previous year, the company posted $0.47 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts forecast that Coterra Energy will post 1.62 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.44%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio is 50.60%.

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.