Coterra Energy (NYSE:CTRA) Given New $33.00 Price Target at Piper Sandler

Coterra Energy (NYSE:CTRA) had its price objective reduced by Piper Sandler from $35.00 to $33.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently weighed in on CTRA. Scotiabank cut their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Truist Financial lifted their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the stock a “buy” rating in a research note on Thursday, November 14th. Morgan Stanley upped their price objective on shares of Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Thursday, November 14th. UBS Group lifted their target price on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. Finally, Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $25.00 to $29.00 in a research report on Tuesday, August 27th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued 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 $32.53.

Coterra Energy Stock Performance

NYSE:CTRA opened at $23.67 on Tuesday. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. 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 firm has a market capitalization of $17.44 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The business’s fifty day moving average price is $24.97 and its 200 day moving average price is $25.14.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 EPS. On average, sell-side analysts anticipate that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.55%. Coterra Energy’s dividend payout ratio is presently 50.60%.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Fifth Third Bancorp increased its holdings in Coterra Energy by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 71,138 shares of the company’s stock valued at $1,897,000 after acquiring an additional 399 shares in the last quarter. Cornercap Investment Counsel Inc. grew its position in shares of Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after purchasing an additional 436 shares during the last quarter. Bruce G. Allen Investments LLC increased its stake in shares of Coterra Energy by 17.4% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock worth $73,000 after purchasing an additional 450 shares in the last quarter. Venturi Wealth Management LLC raised its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after purchasing an additional 474 shares during the last quarter. Finally, SeaCrest Wealth Management LLC lifted its stake in Coterra Energy by 4.8% in the 3rd quarter. SeaCrest Wealth Management LLC now owns 10,983 shares of the company’s stock valued at $263,000 after buying an additional 505 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.