Coterra Energy (NYSE:CTRA) Shares Down 4.7% - Here's Why

Key Points

• Coterra shares fell 4.7% to about $31.47 during Tuesday trading, with volume unusually light (1.25M shares, down ~89% from the average of 11.0M).
• Analysts hold a consensus of "Moderate Buy" (16 Buys, 10 Holds) with an average target price of $36.65, though recent targets range from $28 to $41 after mixed revisions.
• The company has a market cap of ~$24.0B, a P/E of 13.9 and a quarterly dividend of $0.22 (annualized yield ~2.8%, payout ratio 38.6%), and about 87.9% of the stock is institutionally owned.

Coterra Energy Inc. (NYSE:CTRA - Get Free Report)'s share price fell 4.7% during trading on Tuesday . The stock traded as low as $31.71 and last traded at $31.4660. 1,251,792 shares were traded during mid-day trading, a decline of 89% from the average session volume of 11,018,396 shares. The stock had previously closed at $33.01.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CTRA. TD Cowen decreased their target price on Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a research report on Tuesday, February 10th. Jefferies Financial Group upped their target price on Coterra Energy from $28.00 to $33.00 and gave the company a "hold" rating in a research report on Monday. UBS Group upped their target price on Coterra Energy from $33.00 to $38.00 and gave the company a "buy" rating in a research report on Thursday, March 5th. Raymond James Financial upped their target price on Coterra Energy from $34.00 to $41.00 in a research report on Monday, March 9th. Finally, Roth Mkm set a $28.00 target price on Coterra Energy and gave the company a "neutral" rating in a research report on Tuesday, February 3rd. Sixteen investment analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $36.65.

Coterra Energy Trading Down 4.2%

The company has a quick ratio of 1.16, a current ratio of 1.19 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $24.01 billion, a P/E ratio of 13.87, a PEG ratio of 0.54 and a beta of 0.29. The firm has a 50 day moving average of $32.32 and a 200-day moving average of $27.88.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 11th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.8%. The ex-dividend date was Wednesday, March 11th. Coterra Energy's payout ratio is 38.60%.

Institutional Investors Weigh In On Coterra Energy

Several institutional investors have recently made changes to their positions in CTRA. EverSource Wealth Advisors LLC boosted its stake in shares of Coterra Energy by 72.5% in the second quarter. EverSource Wealth Advisors LLC now owns 5,537 shares of the company's stock valued at $141,000 after buying an additional 2,328 shares during the period. Jump Financial LLC boosted its stake in shares of Coterra Energy by 64.4% in the second quarter. Jump Financial LLC now owns 32,498 shares of the company's stock valued at $825,000 after buying an additional 12,731 shares during the period. Bank of Nova Scotia boosted its stake in shares of Coterra Energy by 31.9% in the second quarter. Bank of Nova Scotia now owns 104,835 shares of the company's stock valued at $2,661,000 after buying an additional 25,343 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Coterra Energy by 9.6% in the second quarter. Daiwa Securities Group Inc. now owns 114,440 shares of the company's stock valued at $2,904,000 after buying an additional 9,988 shares during the period. Finally, Frontier Capital Management Co. LLC boosted its stake in shares of Coterra Energy by 9.4% in the second quarter. Frontier Capital Management Co. LLC now owns 12,630 shares of the company's stock valued at $321,000 after buying an additional 1,085 shares during the period. 87.92% of the stock is currently owned by institutional investors.

Coterra Energy Company Profile

Coterra Energy NYSE: CTRA is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.

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