Coterra Energy, Inc. (NYSE:CTRA – Get Rating) gapped up before the market opened on Monday after Barclays raised their price target on the stock from $25.00 to $29.00. The stock had previously closed at $24.85, but opened at $25.45. Coterra Energy shares last traded at $25.74, with a volume of 11,162 shares changing hands.
Several other equities research analysts also recently commented on CTRA. Bank of America downgraded Coterra Energy from a “neutral” rating to an “underperform” rating and set a $23.00 price objective for the company. in a report on Monday, January 10th. Raymond James lifted their target price on Coterra Energy from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, December 2nd. Piper Sandler cut Coterra Energy from an “overweight” rating to a “neutral” rating and lifted their target price for the company from $25.00 to $26.00 in a research report on Thursday, March 10th. Morgan Stanley cut their target price on Coterra Energy from $27.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 25th. Finally, Zacks Investment Research cut Coterra Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, January 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $28.27.
In other news, VP Christopher Clason sold 10,000 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $27.05, for a total transaction of $270,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Kevin William Smith sold 11,345 shares of the business’s stock in a transaction on Tuesday, December 28th. The shares were sold at an average price of $20.07, for a total value of $227,694.15. The disclosure for this sale can be found here. Insiders have sold a total of 90,730 shares of company stock worth $2,309,837 in the last ninety days. Insiders own 2.70% of the company’s stock.
An institutional investor recently bought a new position in Coterra Energy stock. First Trust Advisors LP acquired a new stake in shares of Coterra Energy, Inc. (NYSE:CTRA – Get Rating) during the first quarter, according to its most recent filing with the SEC. The fund acquired 4,509 shares of the company’s stock, valued at approximately $261,000. Institutional investors and hedge funds own 66.13% of the company’s stock.
The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.72 and a current ratio of 1.75. The company has a market capitalization of $20.45 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 0.14 and a beta of -0.22. The business has a 50 day moving average of $23.02 and a 200-day moving average of $20.50.
Coterra Energy (NYSE:CTRA – Get Rating) last released its quarterly earnings data on Wednesday, February 23rd. The company reported $0.83 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.02 by ($0.19). Coterra Energy had a net margin of 33.58% and a return on equity of 23.16%. The company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the firm posted $0.25 earnings per share. The business’s revenue for the quarter was up 387.9% compared to the same quarter last year. As a group, equities analysts forecast that Coterra Energy, Inc. will post 3.16 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, March 17th. Shareholders of record on Monday, March 7th were paid a $0.15 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.13. This represents a $0.60 dividend on an annualized basis and a yield of 2.39%. The ex-dividend date was Friday, March 4th. Coterra Energy’s dividend payout ratio is currently 130.23%.
About Coterra Energy (NYSE:CTRA)
Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.