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

Coterra Energy (NYSE:CTRA) had its price target trimmed by Susquehanna from $33.00 to $30.00 in a research report sent to investors on Wednesday, Benzinga reports. The firm currently has a positive rating on the stock.

Several other analysts have also commented on CTRA. Roth Mkm raised shares of Coterra Energy from a neutral rating to a buy rating and increased their price target for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Citigroup increased their price target on shares of Coterra Energy from $30.00 to $31.00 and gave the company a buy rating in a research report on Friday, May 24th. UBS Group cut their price objective on shares of Coterra Energy from $36.00 to $34.00 and set a buy rating on the stock in a report on Thursday, August 8th. Bank of America restated a buy rating and set a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Finally, Mizuho upped their price objective on shares of Coterra Energy from $37.00 to $41.00 and gave the company a buy rating in a report on Monday, May 13th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Coterra Energy presently has a consensus rating of Moderate Buy and a consensus price target of $33.12.

Coterra Energy Trading Down 2.4 %

CTRA opened at $22.92 on Wednesday. Coterra Energy has a 12 month low of $22.79 and a 12 month high of $29.89. The stock has a fifty day moving average price of $25.16 and a 200-day moving average price of $26.61. The firm has a market cap of $17.06 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.24 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last released its quarterly 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). 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 10.48%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.38 earnings per share. As a group, equities research analysts anticipate that Coterra Energy will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were paid a dividend of $0.21 per share. The ex-dividend date was Thursday, August 15th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.66%. Coterra Energy’s payout ratio is 48.55%.

Institutional Investors Weigh In On Coterra Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Coterra Energy by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock worth $2,243,900,000 after purchasing an additional 407,244 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Coterra Energy by 8.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 10,465,383 shares of the company’s stock worth $267,089,000 after purchasing an additional 848,519 shares during the period. Schroder Investment Management Group lifted its position in shares of Coterra Energy by 8.7% during the 4th quarter. Schroder Investment Management Group now owns 7,815,648 shares of the company’s stock valued at $199,455,000 after buying an additional 628,132 shares in the last quarter. King Luther Capital Management Corp lifted its position in shares of Coterra Energy by 4.4% during the 2nd quarter. King Luther Capital Management Corp now owns 6,783,690 shares of the company’s stock valued at $180,921,000 after buying an additional 285,774 shares in the last quarter. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Coterra Energy by 1.0% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 5,063,920 shares of the company’s stock valued at $135,055,000 after buying an additional 51,249 shares in the last quarter. Institutional investors and hedge funds 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.