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

Coterra Energy (NYSE:CTRA) had its target price cut by Truist Financial from $34.00 to $31.00 in a research note published on Monday morning, Benzinga reports. They currently have a buy rating on the stock.

CTRA has been the topic of several other research reports. Morgan Stanley cut their target price on Coterra Energy from $29.00 to $27.00 and set an equal weight rating on the stock in a research report on Monday, September 16th. Roth Capital raised Coterra Energy from a hold rating to a strong-buy rating in a research report on Tuesday, August 27th. JPMorgan Chase & Co. cut their target price on Coterra Energy from $31.00 to $26.00 and set an overweight rating on the stock in a research report on Thursday, September 12th. Piper Sandler cut their price objective on Coterra Energy from $39.00 to $31.00 and set an overweight rating on the stock in a research report on Thursday, August 15th. Finally, UBS Group cut their price objective on Coterra Energy from $34.00 to $31.00 and set a buy rating on the stock in a research report on Wednesday, September 18th. Two research 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 stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average target price of $32.24.

Coterra Energy Trading Up 1.0 %

NYSE CTRA opened at $24.72 on Monday. The company has a market cap of $18.40 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 1.37 and a beta of 0.22. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.89. The business has a 50 day moving average price of $23.93 and a 200-day moving average price of $26.24. The company has a quick ratio of 1.38, a current ratio of 1.40 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA) last announced its earnings results on Thursday, August 1st. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.02). The company 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 firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.38 EPS. As a group, equities analysts expect that Coterra Energy will post 1.74 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, August 29th. Shareholders of record on Thursday, August 15th were paid a $0.21 dividend. The ex-dividend date of this dividend was Thursday, August 15th. This represents a $0.84 annualized dividend and a yield of 3.40%. Coterra Energy’s dividend payout ratio is currently 48.55%.

Institutional Investors Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently modified their holdings of the stock. Fortitude Family Office LLC lifted its stake in Coterra Energy by 154.9% in 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 in the last quarter. Larson Financial Group LLC raised its position in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after buying an additional 535 shares in the last quarter. Central Pacific Bank Trust Division bought a new stake in Coterra Energy during the first quarter valued at $44,000. Harbor Investment Advisory LLC increased its stake in Coterra Energy by 869.3% in 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 during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Coterra Energy in the 1st quarter valued at about $47,000. 87.92% of the stock is currently owned by institutional investors.

About Coterra Energy

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.