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

Key Points

• Coterra Energy Inc. (NYSE:CTRA) has received an average recommendation of "Moderate Buy" from 18 analysts, with 14 recommending a buy and 4 suggesting a hold.
• The average 12-month price target for Coterra Energy's stock is $33.61, with price targets ranging from $30.00 to $38.00 based on recent analyst reports.
• Coterra Energy reported earnings of $0.48 per share for the last quarter, which was below analysts' expectations, but the company’s quarterly revenue increased by 54.6% year-over-year to $1.97 billion.

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) has earned an average recommendation of "Moderate Buy" from the eighteen ratings firms that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold recommendation and fourteen have assigned a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $33.6111.

Several equities analysts recently issued reports on the company. Raymond James Financial set a $38.00 price target on Coterra Energy and gave the company an "outperform" rating in a report on Friday, June 13th. Pickering Energy Partners cut Coterra Energy from an "outperform" rating to a "neutral" rating in a report on Tuesday, May 20th. Mizuho decreased their price target on Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a report on Tuesday, May 13th. UBS Group decreased their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Finally, Barclays raised their price target on Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a report on Monday, July 7th.

Hedge Funds Weigh In On Coterra Energy

Institutional investors have recently modified their holdings of the business. Allspring Global Investments Holdings LLC raised its position in Coterra Energy by 7.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 123,054 shares of the company's stock valued at $3,577,000 after buying an additional 8,726 shares during the last quarter. Vontobel Holding Ltd. acquired a new stake in Coterra Energy in the 1st quarter valued at approximately $233,000. Janney Montgomery Scott LLC raised its position in Coterra Energy by 9.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 251,726 shares of the company's stock valued at $7,275,000 after buying an additional 21,733 shares during the last quarter. Spire Wealth Management raised its position in Coterra Energy by 428.6% in the 1st quarter. Spire Wealth Management now owns 2,294 shares of the company's stock valued at $66,000 after buying an additional 1,860 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its position in Coterra Energy by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 86,307 shares of the company's stock valued at $2,494,000 after buying an additional 2,325 shares during the last quarter. Institutional investors own 87.92% of the company's stock.

Coterra Energy Stock Performance

Shares of NYSE CTRA opened at $24.06 on Thursday. The business has a fifty day simple moving average of $24.30 and a 200 day simple moving average of $25.50. The company has a current ratio of 1.13, a quick ratio of 1.08 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $18.36 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 0.33 and a beta of 0.34. Coterra Energy has a one year low of $22.30 and a one year high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its earnings results on Monday, August 4th. The company reported $0.48 earnings per share for the quarter, missing analysts' consensus estimates of $0.50 by ($0.02). Coterra Energy had a net margin of 23.80% and a return on equity of 10.99%. The business had revenue of $1.97 billion during the quarter, compared to analyst estimates of $1.78 billion. During the same quarter last year, the business posted $0.37 earnings per share. The business's quarterly revenue was up 54.6% compared to the same quarter last year. Sell-side analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th were issued a dividend of $0.22 per share. The ex-dividend date was Thursday, August 14th. This represents a $0.88 dividend on an annualized basis and a yield of 3.7%. Coterra Energy's dividend payout ratio (DPR) is 42.11%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.