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

Coterra Energy (NYSE:CTRA) had its target price cut by UBS Group from $34.00 to $31.00 in a research note released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also weighed in on CTRA. Truist Financial lowered their target price on Coterra Energy from $35.00 to $34.00 and set a buy rating for the company in a report on Monday, July 22nd. Morgan Stanley lowered their target price on Coterra Energy from $29.00 to $27.00 and set an equal weight rating for the company in a report on Monday, September 16th. Bank of America restated a buy rating and set a $34.00 target price on shares of Coterra Energy in a report on Friday, June 14th. Piper Sandler lowered their target price on Coterra Energy from $39.00 to $31.00 and set an overweight rating for the company in a report on Thursday, August 15th. Finally, Roth Mkm raised Coterra Energy from a neutral rating to a buy rating and upped their price target for the stock from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy currently has an average rating of Moderate Buy and an average price target of $32.59.

Coterra Energy Stock Up 0.4 %

Shares of NYSE CTRA opened at $23.66 on Wednesday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The firm has a market capitalization of $17.61 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 1.16 and a beta of 0.22. The stock has a 50 day moving average price of $24.42 and a 200 day moving average price of $26.39. Coterra Energy has a 52-week low of $22.30 and a 52-week 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 (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion during 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 10.48%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. Sell-side analysts expect that Coterra Energy will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.55%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s payout ratio is 48.55%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fortitude Family Office LLC grew its position in Coterra Energy by 154.9% during the 2nd quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares during the period. Larson Financial Group LLC boosted its stake in shares of Coterra Energy by 98.0% during 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 in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Coterra Energy during the 1st quarter worth about $44,000. Harbor Investment Advisory LLC boosted its stake in shares of Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after acquiring an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy during the 1st quarter worth about $47,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.