Coterra Energy (NYSE:CTRA) Trading Down 7.6% on Analyst Downgrade

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) dropped 7.6% on Tuesday after UBS Group lowered their price target on the stock from $32.00 to $30.00. UBS Group currently has a buy rating on the stock. Coterra Energy traded as low as $22.84 and last traded at $23.35. Approximately 3,538,633 shares traded hands during trading, a decline of 43% from the average daily volume of 6,202,442 shares. The stock had previously closed at $25.27.

A number of other equities research analysts have also recently weighed in on CTRA. Barclays decreased their price objective on Coterra Energy from $37.00 to $35.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Johnson Rice upgraded shares of Coterra Energy from a "hold" rating to an "accumulate" rating and raised their price target for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. Truist Financial boosted their price objective on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a "buy" rating in a research note on Monday, January 13th. Piper Sandler raised their target price on shares of Coterra Energy from $34.00 to $37.00 and gave the company an "overweight" rating in a research note on Thursday, March 6th. Finally, Jefferies Financial Group upped their price target on Coterra Energy from $26.00 to $28.00 and gave the stock a "hold" rating in a research report on Tuesday, February 4th. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $33.75.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of Coterra Energy stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael D. Deshazer sold 35,377 shares of the business's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $26.62, for a total transaction of $941,735.74. Following the completion of the sale, the senior vice president now directly owns 126,770 shares of the company's stock, valued at $3,374,617.40. The trade was a 21.82 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Institutional Trading of Coterra Energy

Several large investors have recently added to or reduced their stakes in CTRA. Cornerstone Planning Group LLC increased its position in shares of Coterra Energy by 175.6% during the 1st 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 period. Raleigh Capital Management Inc. raised its position 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 acquiring an additional 737 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in Coterra Energy in the first quarter worth about $29,000. City State Bank acquired a new stake in Coterra Energy in the 4th quarter valued at about $26,000. Finally, AdvisorNet Financial Inc boosted its position in shares of Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock valued at $29,000 after purchasing an additional 744 shares in the last quarter. 87.92% of the stock is currently owned by institutional investors and hedge funds.

Coterra Energy Price Performance

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 company's 50 day moving average price is $26.30 and its 200-day moving average price is $26.37. The company has a market cap of $17.88 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 0.59 and a beta of 0.33.

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

Coterra Energy Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.88 annualized dividend and a dividend yield of 3.76%. Coterra Energy's dividend payout ratio (DPR) is presently 51.16%.

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.