Coterra Energy (NYSE:CTRA) Stock Price Down 3.4% - Should You Sell?

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) shares were down 3.4% during mid-day trading on Monday . The company traded as low as $23.78 and last traded at $23.57. Approximately 662,792 shares were traded during trading, a decline of 90% from the average daily volume of 6,550,018 shares. The stock had previously closed at $24.39.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CTRA shares. Piper Sandler reaffirmed an "overweight" rating and set a $37.00 price objective (up from $36.00) on shares of Coterra Energy in a report on Thursday, July 17th. Barclays lifted their price objective on shares of Coterra Energy from $35.00 to $37.00 and gave the stock an "overweight" rating in a report on Monday, July 7th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $31.00 price objective on shares of Coterra Energy in a report on Tuesday, July 1st. Raymond James Financial set a $38.00 target price on Coterra Energy and gave the stock an "outperform" rating in a research note on Friday, June 13th. Finally, Bank of America lowered their target price on Coterra Energy from $34.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Coterra Energy currently has a consensus rating of "Moderate Buy" and a consensus target price of $33.16.

Coterra Energy Stock Up 1.5%

The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 0.30. The firm has a market cap of $18.14 billion, a PE ratio of 13.82, a price-to-earnings-growth ratio of 0.32 and a beta of 0.35. The stock has a fifty day simple moving average of $25.22 and a two-hundred day simple moving average of $26.37.

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, beating analysts' consensus estimates of $0.71 by $0.09. The business had revenue of $924.00 million during the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a return on equity of 10.61% and a net margin of 21.67%. The company's quarterly revenue was up 32.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.51 EPS. As a group, sell-side analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 29th. Shareholders of record on Thursday, May 15th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Thursday, May 15th. Coterra Energy's payout ratio is presently 51.16%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Cornerstone Planning Group LLC lifted its position in Coterra Energy by 175.6% in the first quarter. Cornerstone Planning Group LLC now owns 871 shares of the company's stock valued at $25,000 after purchasing an additional 555 shares during the last quarter. Raleigh Capital Management Inc. raised its holdings in Coterra Energy by 463.5% in the first quarter. Raleigh Capital Management Inc. now owns 896 shares of the company's stock worth $26,000 after purchasing an additional 737 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Coterra Energy in the first quarter worth $29,000. REAP Financial Group LLC grew its stake in shares of Coterra Energy by 190.1% in the second quarter. REAP Financial Group LLC now owns 1,108 shares of the company's stock worth $28,000 after acquiring an additional 726 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Coterra Energy in the first quarter worth $34,000. Hedge funds and other institutional investors own 87.92% of the company's stock.

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.