Coterra Energy (NYSE:CTRA) Price Target Cut to $27.00 by Analysts at Morgan Stanley

Coterra Energy (NYSE:CTRA) had its price objective trimmed by Morgan Stanley from $29.00 to $27.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other equities analysts have also recently issued reports on the company. Roth Mkm upgraded Coterra Energy from a neutral rating to a buy rating and increased their price target for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Truist Financial cut their price target on Coterra Energy from $35.00 to $34.00 and set a buy rating on the stock in a report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on Coterra Energy from $31.00 to $26.00 and set an overweight rating on the stock in a report on Thursday, September 12th. Piper Sandler cut their target price on Coterra Energy from $39.00 to $31.00 and set an overweight rating on the stock in a report on Thursday, August 15th. Finally, UBS Group cut their target price on Coterra Energy from $36.00 to $34.00 and set a buy rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $32.59.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $23.57 on Monday. The business’s 50 day simple moving average is $24.49 and its 200 day simple moving average is $26.42. Coterra Energy has a one year low of $22.30 and a one year high of $29.89. The stock has a market capitalization of $17.54 billion, a PE ratio of 13.62, a PEG ratio of 1.16 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 EPS 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 10.48%. The company had revenue of $1.27 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the previous year, the company earned $0.38 earnings per share. The business’s revenue was up 7.3% on a year-over-year basis. As a group, research analysts forecast that Coterra Energy will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.56%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is presently 48.55%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. KBC Group NV boosted its position in shares of Coterra Energy by 240.1% during the 4th quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after acquiring an additional 609,954 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of Coterra Energy during the first quarter valued at approximately $656,000. Quadrature Capital Ltd boosted its holdings in Coterra Energy by 112.2% in the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after acquiring an additional 38,278 shares in the last quarter. Beacon Pointe Advisors LLC boosted its holdings in Coterra Energy by 5.8% in the fourth quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock worth $1,131,000 after acquiring an additional 2,420 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its holdings in Coterra Energy by 98.7% in the fourth quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock worth $4,352,000 after acquiring an additional 84,680 shares in the last quarter. 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.