Coterra Energy (NYSE:CTRA) Hits New 1-Year Low Following Analyst Downgrade

Key Points

• Coterra Energy shares reached a new 52-week low at $22.33 after Goldman Sachs downgraded its price target from $30.00 to $29.00, maintaining a neutral rating.
• Other research firms have also adjusted their ratings, with Scotiabank lowering its price objective from $35.00 to $32.00, while Zacks Research downgraded the stock to a "strong sell."
• The company reported a quarterly earnings miss, with EPS of $0.48 compared to expectations of $0.50, despite a revenue increase to $1.97 billion.

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) hit a new 52-week low on Thursday after The Goldman Sachs Group lowered their price target on the stock from $30.00 to $29.00. The Goldman Sachs Group currently has a neutral rating on the stock. Coterra Energy traded as low as $22.33 and last traded at $22.38, with a volume of 11543806 shares changing hands. The stock had previously closed at $23.20.

A number of other research firms also recently commented on CTRA. Scotiabank dropped their price objective on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 9th. Roth Capital dropped their price target on Coterra Energy from $27.00 to $26.00 and set a "buy" rating for the company in a research report on Wednesday. UBS Group lowered their price objective on Coterra Energy from $30.00 to $29.00 and set a "buy" rating for the company in a research report on Tuesday. Zacks Research downgraded Coterra Energy from a "hold" rating to a "strong sell" rating in a research report on Monday. Finally, Piper Sandler lifted their price objective on Coterra Energy from $37.00 to $39.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Sixteen analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $32.50.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CTRA. CWM LLC increased its holdings in Coterra Energy by 85.0% in the third quarter. CWM LLC now owns 232,897 shares of the company's stock valued at $5,508,000 after buying an additional 106,983 shares during the last quarter. Pacer Advisors Inc. grew its holdings in shares of Coterra Energy by 15.9% during the third quarter. Pacer Advisors Inc. now owns 4,137,603 shares of the company's stock valued at $97,854,000 after purchasing an additional 567,053 shares during the last quarter. Independent Wealth Network Inc. bought a new position in shares of Coterra Energy during the third quarter valued at approximately $301,000. Inspire Investing LLC grew its holdings in shares of Coterra Energy by 17.9% during the third quarter. Inspire Investing LLC now owns 13,246 shares of the company's stock valued at $313,000 after purchasing an additional 2,008 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Coterra Energy by 113.2% during the third quarter. Vontobel Holding Ltd. now owns 28,363 shares of the company's stock valued at $671,000 after purchasing an additional 15,057 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Price Performance

The company has a market capitalization of $17.10 billion, a P/E ratio of 10.72, a price-to-earnings-growth ratio of 0.34 and a beta of 0.29. The company has a fifty day moving average price of $23.85 and a 200 day moving average price of $24.69. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

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

Coterra Energy Dividend Announcement

The business also recently disclosed 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. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date was Thursday, August 14th. Coterra Energy's dividend payout ratio 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.