Pickering Energy Partners Downgrades Coterra Energy (NYSE:CTRA) to Neutral

Coterra Energy (NYSE:CTRA - Get Free Report) was downgraded by equities researchers at Pickering Energy Partners from an "outperform" rating to a "neutral" rating in a research report issued on Tuesday, Marketbeat reports.

Several other equities analysts have also weighed in on CTRA. The Goldman Sachs Group lifted their price target on Coterra Energy from $33.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Barclays reduced their price target on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. UBS Group reduced their price target on Coterra Energy from $32.00 to $30.00 and set a "buy" rating for the company in a report on Friday, May 9th. Piper Sandler reduced their price target on Coterra Energy from $37.00 to $36.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. reduced their price target on Coterra Energy from $36.00 to $33.00 and set an "overweight" rating for the company in a report on Thursday, March 13th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Coterra Energy has an average rating of "Moderate Buy" and a consensus target price of $33.50.

Coterra Energy Stock Performance

CTRA stock traded up $0.10 during midday trading on Tuesday, reaching $24.51. The stock had a trading volume of 4,432,615 shares, compared to its average volume of 6,426,205. The stock has a market cap of $18.71 billion, a PE ratio of 14.77, a P/E/G ratio of 0.59 and a beta of 0.33. 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 firm has a fifty day simple moving average of $25.82 and a two-hundred day simple moving average of $26.43. Coterra Energy has a 52-week low of $22.30 and a 52-week 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 for the quarter, topping the consensus estimate of $0.71 by $0.09. The company had revenue of $924.00 million for 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 firm's revenue for the quarter was up 32.9% compared to the same quarter last year. During the same period last year, the firm earned $0.51 EPS. As a group, equities research analysts anticipate that Coterra Energy will post 1.54 EPS for the current year.

Insider Transactions at Coterra Energy

In other news, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction that occurred 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 directly owns 126,770 shares in the company, valued at $3,374,617.40. The trade was a 21.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kevin William Smith sold 25,733 shares of the business's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total value of $748,572.97. Following the transaction, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. This represents a 19.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geneos Wealth Management Inc. lifted its holdings in Coterra Energy by 29.2% in the first quarter. Geneos Wealth Management Inc. now owns 6,417 shares of the company's stock valued at $185,000 after acquiring an additional 1,449 shares during the last quarter. Focus Partners Wealth lifted its holdings in Coterra Energy by 16.2% in the first quarter. Focus Partners Wealth now owns 712,564 shares of the company's stock valued at $20,593,000 after acquiring an additional 99,558 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Coterra Energy by 10.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,183,663 shares of the company's stock valued at $92,008,000 after acquiring an additional 297,074 shares during the last quarter. Empowered Funds LLC lifted its holdings in Coterra Energy by 6.5% in the first quarter. Empowered Funds LLC now owns 593,950 shares of the company's stock valued at $17,165,000 after acquiring an additional 36,028 shares during the last quarter. Finally, Dean Capital Management lifted its holdings in Coterra Energy by 2.3% in the first quarter. Dean Capital Management now owns 51,608 shares of the company's stock valued at $1,491,000 after acquiring an additional 1,146 shares during the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

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.