Morgan Stanley Lowers Coterra Energy (NYSE:CTRA) Price Target to $30.00

Coterra Energy (NYSE:CTRA) had its target price reduced by Morgan Stanley from $32.00 to $30.00 in a research report released on Thursday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. cut their target price on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating on the stock in a research note on Thursday, March 13th. Raymond James cut their price target on Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a report on Wednesday, March 12th. UBS Group boosted their price objective on Coterra Energy from $35.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Mizuho lifted their price target on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a research report on Monday, December 16th. Finally, Truist Financial lifted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the company a “buy” rating in a report on Monday, January 13th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.35.

Coterra Energy Trading Up 0.4 %

NYSE CTRA opened at $28.65 on Thursday. Coterra Energy has a one year low of $22.30 and a one year high of $29.95. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The business has a 50 day simple moving average of $27.91 and a 200 day simple moving average of $26.04. The stock has a market capitalization of $21.89 billion, a P/E ratio of 17.26, a P/E/G ratio of 0.59 and a beta of 0.26.

Coterra Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Stockholders of record on Thursday, March 13th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.07%. This is a boost from Coterra Energy’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio is presently 58.28%.

Insider Activity at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company’s stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in CTRA. Raymond James Trust N.A. raised its position in shares of Coterra Energy by 30.7% in the third quarter. Raymond James Trust N.A. now owns 12,296 shares of the company’s stock valued at $294,000 after purchasing an additional 2,890 shares during the period. Cerity Partners LLC grew its stake in Coterra Energy by 32.6% in the 3rd quarter. Cerity Partners LLC now owns 341,634 shares of the company’s stock valued at $8,182,000 after buying an additional 83,998 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Coterra Energy by 10.9% during the 3rd quarter. Daiwa Securities Group Inc. now owns 90,377 shares of the company’s stock valued at $2,165,000 after acquiring an additional 8,875 shares during the period. D.A. Davidson & CO. lifted its position in shares of Coterra Energy by 9.3% during the third quarter. D.A. Davidson & CO. now owns 25,767 shares of the company’s stock worth $617,000 after acquiring an additional 2,202 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Coterra Energy by 11.7% in the third quarter. FMR LLC now owns 911,700 shares of the company’s stock worth $21,835,000 after acquiring an additional 95,539 shares during the period. 87.92% of the stock is currently owned by institutional investors.

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.