Stephens Cuts Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its price objective reduced by Stephens from $34.00 to $33.00 in a report released on Tuesday morning,MarketScreener reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently issued reports on CTRA. UBS Group decreased their price target on Coterra Energy from $30.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Mizuho decreased their price target on Coterra Energy from $36.00 to $33.00 and set an “outperform” rating for the company in a report on Monday, September 15th. Wells Fargo & Company lifted their price target on Coterra Energy from $32.00 to $33.00 and gave the stock an “overweight” rating in a report on Thursday, August 14th. Scotiabank decreased their price target on Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a report on Thursday, October 9th. Finally, The Goldman Sachs Group decreased their price target on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a report on Wednesday, October 15th. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $32.60.

Coterra Energy Trading Up 1.9%

Shares of NYSE CTRA opened at $23.75 on Tuesday. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The stock has a fifty day simple moving average of $23.75 and a 200-day simple moving average of $24.52. The stock has a market capitalization of $18.12 billion, a PE ratio of 11.36, a PEG ratio of 0.36 and a beta of 0.29.

Coterra Energy (NYSE:CTRA) last released its earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $1.78 billion. Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The company’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter last year, the business posted $0.37 earnings per share. On average, equities analysts forecast that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 28th. Investors of record on Thursday, August 14th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date was Thursday, August 14th. Coterra Energy’s payout ratio is 42.11%.

Hedge Funds Weigh In On Coterra Energy

Several institutional investors have recently added to or reduced their stakes in CTRA. Saxon Interests Inc. increased its position in Coterra Energy by 5.1% during the 1st quarter. Saxon Interests Inc. now owns 9,319 shares of the company’s stock worth $269,000 after purchasing an additional 451 shares during the period. Trust Co. of Vermont increased its position in Coterra Energy by 1.5% during the 3rd quarter. Trust Co. of Vermont now owns 30,832 shares of the company’s stock worth $729,000 after purchasing an additional 454 shares during the period. Tectonic Advisors LLC increased its position in Coterra Energy by 3.2% during the 1st quarter. Tectonic Advisors LLC now owns 14,834 shares of the company’s stock worth $429,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC increased its position in Coterra Energy by 2.1% during the 3rd quarter. GAMMA Investing LLC now owns 22,763 shares of the company’s stock worth $538,000 after purchasing an additional 462 shares during the period. Finally, Hartford Funds Management Co LLC increased its position in Coterra Energy by 1.4% during the 1st quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company’s stock worth $1,020,000 after purchasing an additional 472 shares during the period. Institutional investors and hedge funds 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.