Coterra Energy (NYSE:CTRA) Cut to “Strong Sell” at Zacks Research

Zacks Research downgraded shares of Coterra Energy (NYSE:CTRA) from a hold rating to a strong sell rating in a report published on Monday morning,Zacks.com reports.

Several other analysts have also recently issued reports on CTRA. Raymond James Financial increased their target price on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, November 24th. Wolfe Research dropped their price target on Coterra Energy from $36.00 to $35.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. UBS Group increased their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a “buy” rating in a report on Friday, December 12th. Susquehanna reduced their price objective on shares of Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research report on Monday, October 20th. Finally, Roth Mkm reissued a “buy” rating and issued a $27.00 target price on shares of Coterra Energy in a report on Tuesday, November 4th. Sixteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $32.57.

Coterra Energy Stock Up 2.0%

Shares of CTRA stock opened at $26.74 on Monday. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 0.98. Coterra Energy has a one year low of $22.33 and a one year high of $29.82. The company’s fifty day moving average price is $26.05 and its 200-day moving average price is $24.77. The company has a market capitalization of $20.36 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 0.58 and a beta of 0.36.

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

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued 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 3.3%. Coterra Energy’s dividend payout ratio (DPR) is 40.55%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds have recently bought and sold shares of the business. Davis Selected Advisers increased its holdings in shares of Coterra Energy by 112.9% in the 3rd quarter. Davis Selected Advisers now owns 19,883,481 shares of the company’s stock worth $470,244,000 after buying an additional 10,545,340 shares during the last quarter. Vanguard Group Inc. grew its position in Coterra Energy by 4.0% in the third quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock worth $2,341,151,000 after acquiring an additional 3,781,606 shares in the last quarter. AQR Capital Management LLC grew its position in Coterra Energy by 287.7% in the third quarter. AQR Capital Management LLC now owns 4,573,111 shares of the company’s stock worth $108,154,000 after acquiring an additional 3,393,697 shares in the last quarter. Truist Financial Corp increased its stake in Coterra Energy by 165.3% during the second quarter. Truist Financial Corp now owns 4,213,315 shares of the company’s stock worth $106,934,000 after acquiring an additional 2,625,126 shares during the last quarter. Finally, HITE Hedge Asset Management LLC raised its position in Coterra Energy by 308.9% during the third quarter. HITE Hedge Asset Management LLC now owns 2,362,900 shares of the company’s stock valued at $55,883,000 after purchasing an additional 1,784,967 shares during the period. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.