Coterra Energy (NYSE:CTRA) Earns Outperform Rating from Analysts at William Blair

William Blair assumed coverage on shares of Coterra Energy (NYSE:CTRA) in a report released on Wednesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $36.00 target price on the stock.

Several other analysts also recently commented on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Coterra Energy in a report on Wednesday, November 19th. Stephens decreased their price objective on shares of Coterra Energy from $34.00 to $33.00 and set an “overweight” rating for the company in a research note on Tuesday, October 21st. The Goldman Sachs Group cut their target price on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 15th. Morgan Stanley reduced their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating for the company in a report on Tuesday, October 14th. Finally, Raymond James Financial lifted their price target on Coterra Energy from $28.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday, November 24th. Seventeen equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $32.86.

Coterra Energy Stock Up 1.7%

CTRA stock opened at $26.84 on Wednesday. The firm has a market capitalization of $20.43 billion, a PE ratio of 12.84, a P/E/G ratio of 0.36 and a beta of 0.30. The company has a quick ratio of 1.08, a current ratio of 1.13 and a debt-to-equity ratio of 0.29. Coterra Energy has a twelve month low of $22.33 and a twelve month high of $29.95. The stock’s 50 day moving average is $24.51 and its 200-day moving average is $24.62.

Coterra Energy (NYSE:CTRA) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.02). Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%.The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. During the same quarter last year, the company posted $0.32 EPS. The company’s quarterly revenue was up 33.7% compared to the same quarter last year. Sell-side analysts expect that Coterra Energy will post 1.54 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Investors of record on Thursday, November 13th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

Institutional Trading of Coterra Energy

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Coterra Energy by 4.0% during the 3rd quarter. Vanguard Group Inc. now owns 98,991,567 shares of the company’s stock valued at $2,341,151,000 after buying an additional 3,781,606 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Coterra Energy by 15.3% during the first quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock valued at $2,416,939,000 after purchasing an additional 11,102,350 shares during the last quarter. State Street Corp lifted its holdings in Coterra Energy by 0.9% during the second quarter. State Street Corp now owns 45,588,319 shares of the company’s stock valued at $1,157,032,000 after purchasing an additional 386,526 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Coterra Energy by 5.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of Coterra Energy by 2.5% in the third quarter. Victory Capital Management Inc. now owns 21,581,809 shares of the company’s stock worth $510,410,000 after purchasing an additional 534,132 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.