Coterra Energy (NYSE:CTRA) Rating Lowered to “Neutral” at Pickering Energy Partners

Coterra Energy (NYSE:CTRA) was downgraded by analysts at Pickering Energy Partners from an “outperform” rating to a “neutral” rating in a note issued to investors on Tuesday,Finviz reports.

A number of other equities research analysts have also commented on CTRA. JPMorgan Chase & Co. decreased their price target on Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research report on Thursday, March 13th. Scotiabank decreased their price objective on shares of Coterra Energy from $38.00 to $33.00 and set a “sector outperform” rating on the stock in a report on Friday, April 11th. Johnson Rice raised shares of Coterra Energy from a “hold” rating to an “accumulate” rating and boosted their target price for the stock from $34.00 to $37.00 in a research note on Wednesday, March 12th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a research report on Wednesday, March 5th. Finally, Bank of America lowered their price target on shares of Coterra Energy from $34.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has a consensus rating of “Moderate Buy” and an average target price of $33.50.

Coterra Energy Stock Performance

CTRA opened at $24.50 on Tuesday. The stock’s 50 day simple moving average is $26.08 and its 200-day simple moving average is $26.43. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16. The stock has a market cap of $18.70 billion, a PE ratio of 14.76, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm had revenue of $924.00 million for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the prior year, the business posted $0.51 earnings per share. The business’s revenue was up 32.9% compared to the same quarter last year. Sell-side analysts forecast that Coterra Energy will post 1.54 EPS for the current year.

Insider Buying and Selling at Coterra Energy

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 transaction, the senior vice president now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now directly owns 106,114 shares of the company’s stock, valued at $3,086,856.26. This trade represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On Coterra Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Coterra Energy by 10.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,183,663 shares of the company’s stock valued at $92,008,000 after acquiring an additional 297,074 shares during the last quarter. Empowered Funds LLC increased its position in Coterra Energy by 6.5% during the first quarter. Empowered Funds LLC now owns 593,950 shares of the company’s stock worth $17,165,000 after buying an additional 36,028 shares during the last quarter. Dean Capital Management raised its stake in Coterra Energy by 2.3% in the first quarter. Dean Capital Management now owns 51,608 shares of the company’s stock valued at $1,491,000 after buying an additional 1,146 shares during the period. RNC Capital Management LLC increased its holdings in shares of Coterra Energy by 4.0% during the 1st quarter. RNC Capital Management LLC now owns 57,103 shares of the company’s stock worth $1,650,000 after acquiring an additional 2,218 shares during the last quarter. Finally, Caxton Associates LLP acquired a new position in shares of Coterra Energy during the 1st quarter worth approximately $1,824,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.