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

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) were down 7.6% on Tuesday after Barclays lowered their price target on the stock from $37.00 to $35.00. Barclays currently has an overweight rating on the stock. Coterra Energy traded as low as $22.84 and last traded at $23.35. Approximately 3,538,633 shares changed hands during mid-day 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 issued reports on the stock. Johnson Rice raised shares of Coterra Energy from a "hold" rating to an "accumulate" rating and upped their price objective for the company from $34.00 to $37.00 in a report on Wednesday, March 12th. UBS Group decreased their price target on Coterra Energy from $33.00 to $32.00 and set a "buy" rating on the stock in a research note on Thursday, April 17th. Jefferies Financial Group boosted their price objective on shares of Coterra Energy from $26.00 to $28.00 and gave the company a "hold" rating in a report on Tuesday, February 4th. Raymond James decreased their target price on shares of Coterra Energy from $41.00 to $37.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 12th. Finally, Morgan Stanley set a $28.00 price target on shares of Coterra Energy in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Coterra Energy presently has a consensus rating of "Moderate Buy" and an average target price of $33.85.

Insider Activity at Coterra Energy

In other Coterra Energy news, SVP Michael D. Deshazer sold 35,377 shares of the company'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 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. This represents a 21.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Kevin William Smith sold 25,733 shares of the stock in a transaction 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 completion of the transaction, the senior vice president now owns 106,114 shares of the company's stock, valued at $3,086,856.26. The trade was a 19.52 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Institutional Investors Weigh In On Coterra Energy

A number of institutional investors and hedge funds have recently modified their holdings of CTRA. Private Trust Co. NA raised its position in shares of Coterra Energy by 20.0% during the 4th quarter. Private Trust Co. NA now owns 2,140 shares of the company's stock worth $55,000 after purchasing an additional 356 shares during the last quarter. CENTRAL TRUST Co boosted its stake in shares of Coterra Energy by 1.8% during the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company's stock valued at $559,000 after acquiring an additional 389 shares during the last quarter. Donald L. Hagan LLC increased its position in Coterra Energy by 1.1% during the 1st quarter. Donald L. Hagan LLC now owns 35,754 shares of the company's stock worth $1,033,000 after purchasing an additional 401 shares in the last quarter. Investors Research Corp lifted its holdings in Coterra Energy by 45.2% in the 1st quarter. Investors Research Corp now owns 1,311 shares of the company's stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. Finally, Arkadios Wealth Advisors boosted its stake in shares of Coterra Energy by 3.8% during the 4th quarter. Arkadios Wealth Advisors now owns 11,294 shares of the company's stock worth $288,000 after purchasing an additional 413 shares during the last quarter. Institutional investors and hedge funds own 87.92% of the company's stock.

Coterra Energy Trading Down 7.4 %

The business's fifty day moving average price is $26.58 and its 200 day moving average price is $26.41. The firm has a market capitalization of $17.89 billion, a PE ratio of 14.11, a P/E/G ratio of 0.59 and a beta of 0.33. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.80 EPS for the quarter, beating 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 return on equity of 9.38% and a net margin of 21.91%. The firm's revenue was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. As a group, analysts expect that Coterra Energy Inc. will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 29th. Investors of record on Thursday, May 15th will be given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.76%. Coterra Energy's dividend payout ratio (DPR) is presently 58.28%.

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.

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