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

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

Other research analysts have also issued research reports about the company. Roth Mkm upgraded Coterra Energy from a neutral rating to a buy rating and raised their price objective for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Truist Financial decreased their price objective on Coterra Energy from $35.00 to $34.00 and set a buy rating on the stock in a report on Monday, July 22nd. Citigroup raised their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a buy rating in a research note on Friday, May 24th. BMO Capital Markets raised Coterra Energy to a hold rating in a research note on Wednesday, July 3rd. Finally, UBS Group cut their target price on Coterra Energy from $36.00 to $34.00 and set a buy rating for the company in a research note on Thursday, August 8th. Two investment 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’s stock. Based on data from MarketBeat.com, Coterra Energy currently has an average rating of Moderate Buy and a consensus target price of $33.12.

Coterra Energy Trading Down 2.4 %

Shares of NYSE:CTRA opened at $22.92 on Wednesday. Coterra Energy has a 1 year low of $22.79 and a 1 year high of $29.89. The firm has a market capitalization of $17.06 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.24 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.40 and a quick ratio of 1.38. The business’s 50 day moving average price is $25.16 and its 200-day moving average price is $26.61.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.37 earnings per share 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 company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.38 EPS. On average, equities research analysts forecast that Coterra Energy will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given 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 3.66%. Coterra Energy’s dividend payout ratio is presently 48.55%.

Institutional Trading of Coterra Energy

Hedge funds have recently made changes to their positions in the business. Robeco Institutional Asset Management B.V. lifted its position in shares of Coterra Energy by 172.6% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 726,123 shares of the company’s stock worth $18,531,000 after purchasing an additional 459,713 shares in the last quarter. KBC Group NV lifted its position in shares of Coterra Energy by 240.1% during the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock worth $22,049,000 after purchasing an additional 609,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coterra Energy during the first quarter worth about $656,000. Quadrature Capital Ltd lifted its position in shares of Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after purchasing an additional 38,278 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in shares of Coterra Energy by 38.2% during the fourth quarter. Private Advisor Group LLC now owns 123,322 shares of the company’s stock worth $3,147,000 after purchasing an additional 34,110 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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.