Coterra Energy (NYSE:CTRA) Price Target Cut to $31.00 by Analysts at Piper Sandler

Coterra Energy (NYSE:CTRA) had its target price trimmed by Piper Sandler from $39.00 to $31.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other research analysts have also issued research reports about the stock. Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an outperform rating and a $35.00 price target on the stock. Susquehanna lifted their target price on shares of Coterra Energy from $32.00 to $33.00 and gave the company a positive rating in a report on Tuesday, May 7th. Bank of America reiterated a buy rating and issued a $34.00 price target on shares of Coterra Energy in a report on Friday, June 14th. BMO Capital Markets upgraded Coterra Energy to a hold rating in a research note on Wednesday, July 3rd. Finally, Morgan Stanley increased their target price on Coterra Energy from $26.00 to $29.00 and gave the company an equal weight rating in a research note on Wednesday, April 17th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $33.56.

Coterra Energy Stock Down 0.7 %

Shares of NYSE CTRA opened at $24.03 on Thursday. The stock has a market capitalization of $17.88 billion, a PE ratio of 13.89, a P/E/G ratio of 1.49 and a beta of 0.24. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The firm has a fifty day moving average of $26.12 and a 200-day moving average of $26.67. Coterra Energy has a 52-week low of $23.18 and a 52-week high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.49%. Coterra Energy’s revenue was up 7.3% on a year-over-year basis. During the same period last year, the firm posted $0.38 EPS. On average, analysts anticipate that Coterra Energy will post 2.02 EPS for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is presently 48.55%.

Institutional Trading of Coterra Energy

Several large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC increased its stake in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC lifted its stake in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. Wetzel Investment Advisors Inc. bought a new position in shares of Coterra Energy in the fourth quarter valued at approximately $33,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Coterra Energy during the fourth quarter valued at approximately $33,000. Finally, Headlands Technologies LLC raised its holdings in Coterra Energy by 397.7% during the fourth quarter. Headlands Technologies LLC now owns 1,742 shares of the company’s stock worth $44,000 after purchasing an additional 1,392 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.