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

Coterra Energy Inc. (NYSE:CTRA) has earned a consensus rating of “Moderate Buy” from the twenty-four brokerages that are covering the firm, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $32.8636.

Several equities research analysts recently commented on CTRA shares. Stephens lowered their price target on Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. Johnson Rice reduced their target price on shares of Coterra Energy from $38.00 to $37.00 in a research note on Friday, December 5th. Piper Sandler decreased their target price on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Tuesday, November 18th. JPMorgan Chase & Co. cut their price target on shares of Coterra Energy from $35.00 to $34.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Finally, BMO Capital Markets reduced their price objective on shares of Coterra Energy from $33.00 to $32.00 and set a “market perform” rating for the company in a research note on Monday, December 15th.

Coterra Energy Trading Down 3.0%

NYSE CTRA opened at $25.05 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy has a 1-year low of $22.33 and a 1-year high of $29.95. The firm’s fifty day simple moving average is $26.00 and its 200-day simple moving average is $24.78. The company has a market capitalization of $19.07 billion, a PE ratio of 11.54, a price-to-earnings-growth ratio of 0.39 and a beta of 0.36.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.83 billion. During the same period in the previous year, the business posted $0.32 EPS. Coterra Energy’s revenue for the quarter was up 33.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were given a $0.22 dividend. The ex-dividend date of this dividend was Thursday, November 13th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.5%. Coterra Energy’s payout ratio is currently 40.55%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CTRA. Vanguard Group Inc. boosted its position in Coterra Energy by 4.0% during the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after purchasing an additional 3,781,606 shares during the period. State Street Corp lifted its stake in shares of Coterra Energy by 0.9% in the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after buying an additional 386,526 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coterra Energy by 5.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after buying an additional 1,495,553 shares during the period. Victory Capital Management Inc. grew its stake in Coterra Energy by 2.5% in the 3rd quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock valued at $510,410,000 after buying an additional 534,132 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Coterra Energy by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock valued at $522,936,000 after buying an additional 953,824 shares during the last quarter. 87.92% of the stock is owned by institutional investors.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.