Coterra Energy Inc. (NYSE:CTRA) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) have been given a consensus recommendation of "Moderate Buy" by the twenty-two brokerages that are presently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $33.50.

CTRA has been the subject of a number of analyst reports. Mizuho cut their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating for the company in a research note on Tuesday, May 13th. Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th. The Goldman Sachs Group raised their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Williams Trading set a $37.00 target price on shares of Coterra Energy in a report on Wednesday, March 5th. Finally, Bank of America lowered their price target on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th.

Insider Activity

In related news, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total value of $941,735.74. Following the completion of the sale, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. The trade was a 21.82% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total value of $748,572.97. Following the completion of the transaction, the senior vice president now directly owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company's stock.

Hedge Funds Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently made changes to their positions in CTRA. Wellington Management Group LLP raised its position in Coterra Energy by 15.3% in the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company's stock worth $2,416,939,000 after acquiring an additional 11,102,350 shares during the period. Vanguard Group Inc. raised its holdings in Coterra Energy by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 92,337,673 shares of the company's stock worth $2,668,559,000 after purchasing an additional 3,818,700 shares during the period. Sterling Capital Management LLC grew its holdings in Coterra Energy by 5,744.3% during the fourth quarter. Sterling Capital Management LLC now owns 3,661,696 shares of the company's stock valued at $93,520,000 after purchasing an additional 3,599,042 shares during the period. Pacer Advisors Inc. grew its holdings in Coterra Energy by 5,145.4% during the first quarter. Pacer Advisors Inc. now owns 3,100,064 shares of the company's stock valued at $89,592,000 after purchasing an additional 3,040,963 shares during the period. Finally, Envestnet Asset Management Inc. increased its position in Coterra Energy by 117.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,817,375 shares of the company's stock worth $123,036,000 after buying an additional 2,600,801 shares in the last quarter. Hedge funds and other institutional investors own 87.92% of the company's stock.

Coterra Energy Trading Down 1.2%

Shares of NYSE:CTRA traded down $0.29 during midday trading on Tuesday, hitting $24.57. 7,406,366 shares of the stock were exchanged, compared to its average volume of 6,434,401. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95. The business's 50-day moving average price is $25.56 and its 200 day moving average price is $26.42. The stock has a market capitalization of $18.75 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.59 and a beta of 0.33.

Coterra Energy (NYSE:CTRA - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.71 by $0.09. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same period last year, the company earned $0.51 earnings per share. The firm's revenue was up 32.9% compared to the same quarter last year. Analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Thursday, May 15th. Coterra Energy's payout ratio is 51.16%.

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.