Coterra Energy (NYSE:CTRA) Sets New 12-Month Low After Analyst Downgrade

Coterra Energy Inc. (NYSE:CTRA) reached a new 52-week low during trading on Wednesday after Bank of America lowered their price target on the stock from $34.00 to $33.00. Bank of America currently has a buy rating on the stock. Coterra Energy traded as low as $24.40 and last traded at $24.58, with a volume of 6828638 shares traded. The stock had previously closed at $25.51.

A number of other research firms have also recently weighed in on CTRA. JPMorgan Chase & Co. decreased their price objective on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Williams Trading set a $37.00 price objective on Coterra Energy in a research note on Wednesday, March 5th. Susquehanna dropped their price objective on Coterra Energy from $34.00 to $32.00 and set a “positive” rating on the stock in a report on Tuesday, April 22nd. Jefferies Financial Group increased their target price on Coterra Energy from $26.00 to $28.00 and gave the company a “hold” rating in a research note on Tuesday, February 4th. Finally, The Goldman Sachs Group lifted their price target on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. 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 stock. According to MarketBeat, Coterra Energy currently has an average rating of “Moderate Buy” and a consensus price target of $33.95.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were 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 owns 126,770 shares in the company, 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 company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of CTRA. Barclays PLC increased its stake in Coterra Energy by 3.1% during the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company’s stock valued at $51,425,000 after buying an additional 64,753 shares during the period. Pine Valley Investments Ltd Liability Co increased its stake in shares of Coterra Energy by 37.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 122,725 shares of the company’s stock valued at $2,939,000 after acquiring an additional 33,452 shares during the period. World Investment Advisors LLC acquired a new position in shares of Coterra Energy during the third quarter valued at approximately $1,749,000. Wilmington Savings Fund Society FSB bought a new stake in Coterra Energy during the third quarter worth approximately $621,000. Finally, Blankinship & Foster LLC acquired a new stake in Coterra Energy in the third quarter worth approximately $1,420,000. Institutional investors own 87.92% of the company’s stock.

Coterra Energy Trading Down 3.6 %

The stock has a market capitalization of $18.78 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. The business has a 50 day simple moving average of $26.70 and a 200-day simple moving average of $26.35. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61.

Coterra Energy Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 27th. Investors of record on Thursday, March 13th were issued a dividend of $0.22 per share. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a yield of 3.58%. The ex-dividend date of this dividend was Thursday, March 13th. Coterra Energy’s payout ratio 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.