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

Key Points

• Coterra Energy Inc. has received a consensus rating of "Moderate Buy" from eighteen analysts, with an average 12-month price target of $33.22.
• The company reported $1.97 billion in revenue for the last quarter, significantly exceeding analysts' expectations, despite earnings per share of $0.48 which fell short of the consensus estimate.
• Coterra Energy recently announced a quarterly dividend of $0.22 per share, providing a dividend yield of 3.7% for shareholders.

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen analysts that are covering the stock, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $33.2222.

Several research firms have weighed in on CTRA. Wells Fargo & Company lifted their price target on shares of Coterra Energy from $32.00 to $33.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Barclays lifted their price target on shares of Coterra Energy from $35.00 to $37.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Piper Sandler lifted their price target on shares of Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Scotiabank reaffirmed an "outperform" rating on shares of Coterra Energy in a research note on Friday, July 11th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $31.00 price target on shares of Coterra Energy in a research note on Tuesday, July 1st.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $23.83 on Monday. Coterra Energy has a twelve month low of $22.46 and a twelve month high of $29.95. The firm has a fifty day simple moving average of $23.93 and a 200 day simple moving average of $25.11. The company has a market capitalization of $18.18 billion, a PE ratio of 11.40, a P/E/G ratio of 0.34 and a beta of 0.34. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29.

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 return on equity of 10.99% and a net margin of 23.80%.The firm had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the prior year, the business earned $0.37 EPS. Coterra Energy's quarterly revenue was up 54.6% on a year-over-year basis. On average, sell-side analysts forecast that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 28th. Stockholders of record on Thursday, August 14th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, August 14th. This represents a $0.88 annualized dividend and a dividend yield of 3.7%. Coterra Energy's payout ratio is presently 42.11%.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Corient Private Wealth LLC increased its position in shares of Coterra Energy by 13.5% during the second quarter. Corient Private Wealth LLC now owns 200,860 shares of the company's stock worth $5,098,000 after acquiring an additional 23,883 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of Coterra Energy by 7.3% during the second quarter. Valeo Financial Advisors LLC now owns 9,169 shares of the company's stock worth $233,000 after acquiring an additional 627 shares in the last quarter. Osaic Holdings Inc. increased its position in shares of Coterra Energy by 79.9% during the second quarter. Osaic Holdings Inc. now owns 232,742 shares of the company's stock worth $6,268,000 after acquiring an additional 103,352 shares in the last quarter. Orion Porfolio Solutions LLC increased its position in shares of Coterra Energy by 5.9% during the second quarter. Orion Porfolio Solutions LLC now owns 112,047 shares of the company's stock worth $2,844,000 after acquiring an additional 6,243 shares in the last quarter. Finally, Provident Investment Management Inc. increased its position in shares of Coterra Energy by 11.7% during the second quarter. Provident Investment Management Inc. now owns 29,980 shares of the company's stock worth $761,000 after acquiring an additional 3,135 shares in the last quarter. 87.92% of the stock is owned by institutional investors.

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.