Piper Sandler Issues Pessimistic Forecast for Coterra Energy (NYSE:CTRA) Stock Price

Coterra Energy (NYSE:CTRA) had its price target lowered by Piper Sandler from $37.00 to $36.00 in a report published on Tuesday, Marketbeat Ratings reports. The firm currently has an overweight rating on the stock.

CTRA has been the subject of several other reports. Susquehanna lowered their target price on Coterra Energy from $34.00 to $32.00 and set a “positive” rating for the company in a research report on Tuesday, April 22nd. Truist Financial raised their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. Mizuho lowered their target price on Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Wells Fargo & Company raised their target price on Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a research report on Monday, April 21st. Three analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $33.50.

Coterra Energy Stock Down 1.1%

Shares of CTRA opened at $24.70 on Tuesday. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.95. The stock has a market capitalization of $18.85 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 0.59 and a beta of 0.33. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a fifty day moving average of $26.18 and a 200-day moving average of $26.37.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. Coterra Energy’s revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the company earned $0.51 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.56%. Coterra Energy’s dividend payout ratio is presently 51.16%.

Insider Activity

In other news, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares in the company, valued at $3,374,617.40. This trade represents a 21.82% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the sale, the senior vice president now owns 106,114 shares of the company’s stock, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.50% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Coterra Energy

Hedge funds have recently added to or reduced their stakes in the stock. Dark Forest Capital Management LP acquired a new position in Coterra Energy during the 4th quarter valued at about $942,000. State of Tennessee Department of Treasury boosted its stake in Coterra Energy by 7.1% during the 4th quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company’s stock valued at $12,075,000 after purchasing an additional 31,425 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Coterra Energy during the 4th quarter valued at about $641,000. Czech National Bank boosted its stake in Coterra Energy by 6.1% during the 4th quarter. Czech National Bank now owns 159,713 shares of the company’s stock valued at $4,079,000 after purchasing an additional 9,115 shares during the last quarter. Finally, Bourgeon Capital Management LLC boosted its stake in Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock valued at $6,052,000 after purchasing an additional 122,487 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.