Brokerages Set Coterra Energy Inc. (NYSE:CTRA) Target Price at $33.95

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) have earned a consensus rating of "Moderate Buy" from the twenty-one brokerages that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $33.85.

CTRA has been the subject of several recent analyst reports. Scotiabank cut their target price on 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. Williams Trading set a $37.00 target price on Coterra Energy in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price objective on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a research report on Thursday, March 13th. Susquehanna lowered their price objective on shares of Coterra Energy from $34.00 to $32.00 and set a "positive" rating on the stock in a report on Tuesday, April 22nd. Finally, Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th.

Coterra Energy Stock Performance

CTRA traded down $2.19 on Friday, reaching $23.08. The company had a trading volume of 17,456,786 shares, compared to its average volume of 6,252,627. The company's fifty day moving average is $26.58 and its 200 day moving average is $26.41. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The stock has a market cap of $17.63 billion, a P/E ratio of 13.89, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy has a fifty-two week low of $22.30 and a fifty-two week high of $29.95.

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

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 29th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.81%. Coterra Energy's dividend payout ratio is currently 58.28%.

Insider Buying and Selling at Coterra Energy

In related news, SVP Kevin William Smith sold 25,733 shares of the company's stock in a transaction dated Wednesday, March 19th. The stock was 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 owns 106,114 shares of the company's stock, valued at approximately $3,086,856.26. This represents a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares of the company's stock, valued at $3,374,617.40. This represents a 21.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of institutional investors have recently made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Coterra Energy during the 1st quarter valued at about $391,000. Hartford Funds Management Co LLC grew its position in shares of Coterra Energy by 1.4% in the first quarter. Hartford Funds Management Co LLC now owns 35,301 shares of the company's stock valued at $1,020,000 after purchasing an additional 472 shares in the last quarter. Allianz Asset Management GmbH grew its position in shares of Coterra Energy by 18.3% in the first quarter. Allianz Asset Management GmbH now owns 125,776 shares of the company's stock valued at $3,635,000 after purchasing an additional 19,452 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Coterra Energy by 3.7% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 56,839 shares of the company's stock valued at $1,643,000 after purchasing an additional 2,043 shares during the last quarter. Finally, Impact Partnership Wealth LLC purchased a new position in Coterra Energy during the first quarter worth approximately $563,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.