Coterra Energy Inc. (NYSE:CTRA) Given Average Recommendation of “Moderate Buy” by Brokerages

Coterra Energy Inc. (NYSE:CTRA) has been given a consensus rating of “Moderate Buy” by the fifteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $33.67.

Several brokerages have recently issued reports on CTRA. UBS Group boosted their price objective on shares of Coterra Energy from $31.00 to $32.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, May 13th. Stifel Nicolaus lowered their price objective on shares of Coterra Energy from $33.00 to $31.00 and set a “buy” rating for the company in a research note on Friday, March 22nd. Piper Sandler boosted their price objective on shares of Coterra Energy from $37.00 to $39.00 and gave the company an “overweight” rating in a research note on Tuesday, May 14th. Finally, Barclays began coverage on shares of Coterra Energy in a research note on Wednesday, April 10th. They set an “overweight” rating and a $36.00 price objective for the company.

Coterra Energy Trading Down 1.5 %

Shares of CTRA opened at $27.08 on Friday. The stock has a fifty day moving average of $27.78 and a two-hundred day moving average of $26.37. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.46 and a current ratio of 1.49. The company has a market capitalization of $20.15 billion, a PE ratio of 15.65 and a beta of 0.22. Coterra Energy has a fifty-two week low of $22.91 and a fifty-two week high of $29.89.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a return on equity of 10.75% and a net margin of 23.34%. As a group, analysts forecast that Coterra Energy will post 1.82 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 30th. Shareholders of record on Thursday, May 16th will be issued a $0.21 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Insiders Place Their Bets

In other Coterra Energy news, CAO Todd M. Roemer sold 55,000 shares of the business’s stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the transaction, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $27.06, for a total value of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Michael D. Deshazer sold 14,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $26.06, for a total transaction of $364,840.00. Following the completion of the sale, the vice president now owns 93,988 shares in the company, valued at approximately $2,449,327.28. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors have recently modified their holdings of CTRA. Vanguard Group Inc. raised its stake in Coterra Energy by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after acquiring an additional 407,244 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Coterra Energy by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 16,080,590 shares of the company’s stock worth $434,980,000 after acquiring an additional 235,636 shares during the period. Victory Capital Management Inc. raised its stake in Coterra Energy by 3.5% during the third quarter. Victory Capital Management Inc. now owns 15,945,601 shares of the company’s stock worth $431,329,000 after acquiring an additional 544,768 shares during the period. Invesco Ltd. raised its stake in Coterra Energy by 1.5% during the third quarter. Invesco Ltd. now owns 10,723,660 shares of the company’s stock worth $290,075,000 after acquiring an additional 161,776 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Coterra Energy by 8.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after acquiring an additional 848,519 shares during the period. 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.