Piper Sandler Cuts Coterra Energy (NYSE:CTRA) Price Target to $33.00

Coterra Energy (NYSE:CTRA) had its target price cut by Piper Sandler from $35.00 to $33.00 in a report issued on Tuesday,Benzinga reports. They currently have an overweight rating on the stock.

CTRA has been the subject of a number of other reports. Truist Financial upped their price target on Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a research report on Thursday, November 14th. Morgan Stanley upped their target price on Coterra Energy from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Thursday, November 14th. Roth Mkm raised Coterra Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Citigroup boosted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Finally, Stephens raised their price objective on shares of Coterra Energy from $28.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, November 1st. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.53.

Coterra Energy Trading Down 0.3 %

Shares of CTRA opened at $23.67 on Tuesday. Coterra Energy has a 52-week low of $22.30 and a 52-week high of $28.90. The stock has a market cap of $17.44 billion, a PE ratio of 14.26, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The firm’s fifty day moving average is $24.97 and its two-hundred day moving average is $25.14. 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) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The business’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Research analysts forecast that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were issued a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 annualized dividend and a yield of 3.55%. Coterra Energy’s dividend payout ratio (DPR) is presently 50.60%.

Insiders Place Their Bets

In other news, SVP Adam M. Vela sold 16,435 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares of the company’s stock, valued at approximately $1,937,664.84. This trade represents a 18.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kevin William Smith sold 29,643 shares of Coterra Energy stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the completion of the transaction, the senior vice president now owns 77,075 shares of the company’s stock, valued at $2,016,282. This trade represents a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC increased its position in shares of Coterra Energy by 98.0% during the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after acquiring an additional 535 shares during the period. Values First Advisors Inc. purchased a new stake in Coterra Energy during the 3rd quarter worth about $57,000. Tobam purchased a new stake in Coterra Energy during the 3rd quarter worth about $63,000. Capital Performance Advisors LLP acquired a new stake in Coterra Energy in the 3rd quarter valued at about $67,000. Finally, Family Firm Inc. purchased a new position in shares of Coterra Energy in the 2nd quarter valued at about $68,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.