Johnson Rice Cuts Coterra Energy (NYSE:CTRA) Price Target to $37.00

Coterra Energy (NYSE:CTRA) had its price target trimmed by Johnson Rice from $38.00 to $37.00 in a research note issued to investors on Friday,MarketScreener reports.

Other equities analysts also recently issued reports about the company. The Goldman Sachs Group decreased their price target on Coterra Energy from $30.00 to $29.00 and set a “neutral” rating for the company in a research note on Wednesday, October 15th. Wells Fargo & Company boosted their price target on Coterra Energy from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, August 14th. UBS Group upped their price target on Coterra Energy from $29.00 to $32.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Piper Sandler decreased their price objective on shares of Coterra Energy from $38.00 to $37.00 and set an “overweight” rating for the company in a report on Tuesday, November 18th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Coterra Energy in a research note on Monday, December 1st. Seventeen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $32.86.

Coterra Energy Stock Up 0.1%

Shares of NYSE:CTRA opened at $27.37 on Friday. The firm has a market cap of $20.84 billion, a PE ratio of 12.61, a price-to-earnings-growth ratio of 0.46 and a beta of 0.33. The company has a fifty day simple moving average of $24.86 and a 200 day simple moving average of $24.70. The company has a current ratio of 1.02, a quick ratio of 0.98 and a debt-to-equity ratio of 0.25. Coterra Energy has a 12-month low of $22.33 and a 12-month high of $29.95.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to the consensus estimate of $1.83 billion. Coterra Energy had a net margin of 23.25% and a return on equity of 11.23%. The company’s revenue was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 earnings per share. On average, equities research analysts anticipate that Coterra Energy will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Stockholders of record on Thursday, November 13th were given a dividend of $0.22 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.88 annualized dividend and a dividend yield of 3.2%. Coterra Energy’s dividend payout ratio is currently 40.55%.

Institutional Trading of Coterra Energy

Hedge funds have recently bought and sold shares of the company. Advisors Asset Management Inc. increased its stake in shares of Coterra Energy by 0.7% in the third quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock valued at $1,438,000 after purchasing an additional 398 shares during the period. KLCM Advisors Inc. raised its stake in Coterra Energy by 4.2% during the 3rd quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock valued at $233,000 after acquiring an additional 400 shares in the last quarter. Pinnacle Associates Ltd. boosted its position in Coterra Energy by 2.8% during the 3rd quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock worth $363,000 after acquiring an additional 415 shares during the period. Profund Advisors LLC grew its stake in shares of Coterra Energy by 1.4% in the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock worth $732,000 after purchasing an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC increased its holdings in shares of Coterra Energy by 1.0% during the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after purchasing an additional 429 shares during the period. 87.92% of the stock is currently owned by institutional investors.

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.