Coterra Energy (NYSE:CTRA) Given New $34.00 Price Target at UBS Group

Coterra Energy (NYSE:CTRA) had its price target decreased by UBS Group from $36.00 to $34.00 in a research report report published on Thursday, Benzinga reports. UBS Group currently has a buy rating on the stock.

CTRA has been the topic of several other research reports. Bank of America reaffirmed a buy rating and issued a $34.00 price target on shares of Coterra Energy in a research report on Friday, June 14th. Truist Financial dropped their price target on shares of Coterra Energy from $35.00 to $34.00 and set a buy rating on the stock in a research report on Monday, July 22nd. Barclays initiated coverage on shares of Coterra Energy in a research report on Wednesday, April 10th. They set an overweight rating and a $36.00 target price on the stock. Citigroup lifted their target price on shares of Coterra Energy from $30.00 to $31.00 and gave the stock a buy rating in a research report on Friday, May 24th. Finally, Scotiabank lifted their target price on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a sector outperform rating in a research report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $34.06.

Coterra Energy Stock Up 0.4 %

Shares of CTRA traded up $0.10 during trading hours on Thursday, hitting $24.09. The stock had a trading volume of 6,219,708 shares, compared to its average volume of 6,470,637. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.49 and a quick ratio of 1.46. The firm has a 50 day simple moving average of $26.56 and a 200-day simple moving average of $26.68. The firm has a market capitalization of $17.93 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.24. Coterra Energy has a 1-year low of $23.18 and a 1-year high of $29.89.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share 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 10.49%. The business had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same period in the previous year, the business posted $0.38 EPS. Coterra Energy’s revenue was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Coterra Energy will post 2.02 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.49%. Coterra Energy’s dividend payout ratio (DPR) is currently 48.55%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CTRA. Fifth Third Bancorp grew its position in Coterra Energy by 0.6% in the second quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock worth $1,897,000 after acquiring an additional 399 shares in the last quarter. TCW Group Inc. lifted its stake in Coterra Energy by 4.0% in the second quarter. TCW Group Inc. now owns 10,447 shares of the company’s stock worth $279,000 after purchasing an additional 404 shares during the last quarter. Redwood Wealth Management Group LLC lifted its stake in Coterra Energy by 2.3% in the first quarter. Redwood Wealth Management Group LLC now owns 18,974 shares of the company’s stock worth $529,000 after purchasing an additional 429 shares during the last quarter. Cornercap Investment Counsel Inc. lifted its stake in Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock worth $1,768,000 after purchasing an additional 436 shares during the last quarter. Finally, Stone House Investment Management LLC lifted its stake in Coterra Energy by 32.4% in the fourth quarter. Stone House Investment Management LLC now owns 1,791 shares of the company’s stock worth $46,000 after purchasing an additional 438 shares during the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

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.