Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00 by Analysts at Scotiabank

Coterra Energy (NYSE:CTRA) had its price objective reduced by Scotiabank from $35.00 to $32.00 in a research report released on Thursday, Benzinga reports. Scotiabank currently has a sector outperform rating on the stock.

Several other equities analysts have also recently weighed in on CTRA. BMO Capital Markets upgraded Coterra Energy to a hold rating in a report on Wednesday, July 3rd. Roth Mkm upgraded shares of Coterra Energy from a neutral rating to a buy rating and upped their price target for the company from $25.00 to $29.00 in a report on Tuesday, August 27th. Piper Sandler lowered their price objective on shares of Coterra Energy from $39.00 to $31.00 and set an overweight rating for the company in a research report on Thursday, August 15th. Susquehanna cut their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a positive rating on the stock in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company reduced their target price on shares of Coterra Energy from $34.00 to $32.00 and set an overweight rating for the company in a research note on Tuesday, October 1st. 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 stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $32.06.

Coterra Energy Trading Up 1.6 %

NYSE:CTRA traded up $0.39 during trading hours on Thursday, hitting $24.90. The stock had a trading volume of 710,829 shares, compared to its average volume of 6,264,178. The business’s 50 day moving average is $23.82 and its 200-day moving average is $26.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40. The company has a market cap of $18.41 billion, a price-to-earnings ratio of 14.00, a P/E/G ratio of 1.41 and a beta of 0.22. Coterra Energy has a one year low of $22.30 and a one year high of $29.89.

Coterra Energy (NYSE:CTRA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS 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 the consensus estimate of $1.32 billion. Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. Coterra Energy’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. Sell-side analysts anticipate that Coterra Energy will post 1.72 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business 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. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio is currently 48.00%.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in Coterra Energy during the first quarter worth about $656,000. Quadrature Capital Ltd increased its holdings in shares of Coterra Energy by 112.2% during the 1st quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after acquiring an additional 38,278 shares during the last quarter. Vanguard Group Inc. raised its stake in Coterra Energy by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 87,927,114 shares of the company’s stock valued at $2,243,900,000 after acquiring an additional 407,244 shares during the period. CreativeOne Wealth LLC lifted its holdings in Coterra Energy by 130.3% during the 1st quarter. CreativeOne Wealth LLC now owns 56,860 shares of the company’s stock valued at $1,586,000 after purchasing an additional 32,173 shares during the last quarter. Finally, Raymond James & Associates boosted its position in Coterra Energy by 5.0% during the second quarter. Raymond James & Associates now owns 1,187,663 shares of the company’s stock worth $31,675,000 after purchasing an additional 56,748 shares during the period. 87.92% of the stock is 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.