Morgan Stanley Cuts Coterra Energy (NYSE:CTRA) Price Target to $27.00

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

Several other research analysts also recently commented on CTRA. Susquehanna cut their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a positive rating for the company in a report on Wednesday, September 4th. Roth Mkm upgraded Coterra Energy from a neutral rating to a buy rating and increased their target price for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. BMO Capital Markets upgraded shares of Coterra Energy to a hold rating in a research report on Wednesday, July 3rd. Bank of America restated a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a report on Friday, June 14th. Finally, Roth Capital upgraded Coterra Energy from a hold rating to a strong-buy rating in a research note on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $32.59.

Coterra Energy Stock Up 1.0 %

Shares of NYSE:CTRA opened at $23.24 on Monday. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $29.89. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16. The stock has a market cap of $17.29 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.16 and a beta of 0.22. The business’s 50 day moving average is $24.56 and its 200 day moving average is $26.44.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The business 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 revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 earnings per share. On average, sell-side analysts forecast that Coterra Energy will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a dividend yield of 3.62%. Coterra Energy’s payout ratio is 48.55%.

Institutional Investors Weigh In On Coterra Energy

A number of large investors have recently made changes to their positions in the company. KBC Group NV grew 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 period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Coterra Energy in the 1st quarter worth $656,000. Quadrature Capital Ltd lifted its position in Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock valued at $2,018,000 after purchasing an additional 38,278 shares in the last quarter. Beacon Pointe Advisors LLC grew its holdings in Coterra Energy by 5.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock valued at $1,131,000 after purchasing an additional 2,420 shares during the period. Finally, Allianz Asset Management GmbH increased its position 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 buying an additional 84,680 shares in the last quarter. 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.