Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00

Coterra Energy (NYSE:CTRA) had its price objective cut by Wells Fargo & Company from $34.00 to $32.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also weighed in on the stock. UBS Group cut their price objective on shares of Coterra Energy from $34.00 to $31.00 and set a buy rating on the stock in a report on Wednesday, September 18th. Roth Mkm raised Coterra Energy from a neutral rating to a buy rating and increased their price target for the company from $25.00 to $29.00 in a research note on Tuesday, August 27th. Susquehanna decreased their price objective on Coterra Energy from $33.00 to $30.00 and set a positive rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. dropped their price objective on Coterra Energy from $31.00 to $26.00 and set an overweight rating for the company in a report on Thursday, September 12th. Finally, Roth Capital upgraded Coterra Energy from a hold rating to a strong-buy rating in a report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $32.24.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $24.72 on Tuesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The firm has a market cap of $18.40 billion, a PE ratio of 14.29, a price-to-earnings-growth ratio of 1.37 and a beta of 0.22. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.89. The business has a fifty day moving average of $23.93 and a 200-day moving average of $26.24.

Coterra Energy (NYSE:CTRA) last released its earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The firm had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.32 billion. During the same period last year, the business posted $0.38 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. On average, equities research analysts predict that Coterra Energy will post 1.74 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.40%. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Alpha Omega Wealth Management LLC bought a new stake in Coterra Energy during the third quarter worth $2,918,000. Czech National Bank raised its holdings in shares of Coterra Energy by 6.2% in the 3rd quarter. Czech National Bank now owns 150,598 shares of the company’s stock valued at $3,607,000 after purchasing an additional 8,777 shares during the period. Sanctuary Advisors LLC acquired a new stake in Coterra Energy in the 2nd quarter valued at about $3,420,000. New Wave Wealth Advisors LLC bought a new position in Coterra Energy during the second quarter worth about $245,000. Finally, Cetera Investment Advisers increased its position in Coterra Energy by 2.2% during the second quarter. Cetera Investment Advisers now owns 213,650 shares of the company’s stock worth $5,698,000 after buying an additional 4,555 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.