Coterra Energy Inc. (NYSE:CTRA) Receives Average Rating of "Moderate Buy" from Brokerages

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) has earned an average rating of "Moderate Buy" from the twenty-two brokerages that are presently covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $33.30.

CTRA has been the topic of several recent analyst reports. UBS Group dropped their price target on shares of Coterra Energy from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Mizuho dropped their target price on shares of Coterra Energy from $38.00 to $36.00 and set an "outperform" rating on the stock in a research report on Tuesday, May 13th. Williams Trading set a $37.00 price target on shares of Coterra Energy in a research report on Wednesday, March 5th. Scotiabank decreased their price objective on shares of Coterra Energy from $38.00 to $33.00 and set a "sector outperform" rating for the company in a research note on Friday, April 11th. Finally, JPMorgan Chase & Co. cut their target price on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating on the stock in a research report on Thursday, March 13th.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $26.98 on Friday. The company has a market cap of $20.60 billion, a P/E ratio of 15.69, a PEG ratio of 0.36 and a beta of 0.34. The firm has a fifty day moving average price of $25.13 and a 200 day moving average price of $26.36. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $29.95.

Coterra Energy (NYSE:CTRA - Get Free Report) last announced its quarterly earnings results 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 10.61% and a net margin of 21.67%. The company had revenue of $924.00 million during the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the previous year, the business earned $0.51 EPS. Coterra Energy's revenue for the quarter was up 32.9% on a year-over-year basis. Sell-side analysts predict that Coterra Energy will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 3.26%. The ex-dividend date of this dividend was Thursday, May 15th. Coterra Energy's dividend payout ratio (DPR) is 51.16%.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently added to or reduced their stakes in the business. Voya Investment Management LLC grew its holdings in Coterra Energy by 75.7% in the 1st quarter. Voya Investment Management LLC now owns 1,349,693 shares of the company's stock valued at $39,006,000 after buying an additional 581,612 shares during the period. Inspire Investing LLC grew its holdings in Coterra Energy by 7.8% in the first quarter. Inspire Investing LLC now owns 11,096 shares of the company's stock valued at $321,000 after purchasing an additional 804 shares during the period. Strs Ohio acquired a new position in Coterra Energy during the first quarter worth approximately $1,600,000. Geneos Wealth Management Inc. increased its position in Coterra Energy by 29.2% during the first quarter. Geneos Wealth Management Inc. now owns 6,417 shares of the company's stock worth $185,000 after purchasing an additional 1,449 shares during the last quarter. Finally, Focus Partners Wealth raised its stake in Coterra Energy by 16.2% during the first quarter. Focus Partners Wealth now owns 712,564 shares of the company's stock worth $20,593,000 after purchasing an additional 99,558 shares during the period. 87.92% of the stock is currently owned by hedge funds and other 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.

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