Morgan Stanley Trims Coterra Energy (NYSE:CTRA) Target Price to $27.00

Coterra Energy (NYSE:CTRA) had its price objective lowered by Morgan Stanley from $29.00 to $27.00 in a report published on Monday, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

CTRA has been the subject of several other reports. Truist Financial decreased their price objective on Coterra Energy from $35.00 to $34.00 and set a buy rating for the company in a research report on Monday, July 22nd. Roth Mkm upgraded shares of Coterra Energy from a neutral rating to a buy rating and raised their price objective for the stock from $25.00 to $29.00 in a report on Tuesday, August 27th. Bank of America reaffirmed a buy rating and issued a $34.00 price objective on shares of Coterra Energy in a research report on Friday, June 14th. Citigroup increased their target price on Coterra Energy from $30.00 to $31.00 and gave the stock a buy rating in a report on Friday, May 24th. Finally, Piper Sandler cut their price target on Coterra Energy from $39.00 to $31.00 and set an overweight rating on the stock in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $32.59.

Coterra Energy Stock Up 1.0 %

Shares of NYSE:CTRA opened at $23.24 on Monday. The company has a 50 day moving average price of $24.56 and a two-hundred day moving average price of $26.44. The company has a market capitalization of $17.29 billion, a PE ratio of 13.43, a PEG ratio of 1.16 and a beta of 0.22. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $29.89. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.38 and a current ratio of 1.40.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 10.48% and a net margin of 23.18%. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.38 EPS. Analysts forecast that Coterra Energy will post 1.95 earnings per share for the current year.

Coterra Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Investors of record on Thursday, August 15th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date of this dividend was Thursday, August 15th. Coterra Energy’s payout ratio is currently 48.55%.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently added to or reduced their stakes in the business. KBC Group NV raised its position in shares of Coterra Energy by 240.1% in the fourth quarter. KBC Group NV now owns 863,965 shares of the company’s stock valued at $22,049,000 after buying an additional 609,954 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in shares of Coterra Energy during the 1st quarter valued at $656,000. Quadrature Capital Ltd grew its holdings in shares of Coterra Energy by 112.2% during the first quarter. Quadrature Capital Ltd now owns 72,395 shares of the company’s stock worth $2,018,000 after purchasing an additional 38,278 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in shares of Coterra Energy by 5.8% during the fourth quarter. Beacon Pointe Advisors LLC now owns 44,303 shares of the company’s stock valued at $1,131,000 after acquiring an additional 2,420 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Coterra Energy by 98.7% in the 4th quarter. Allianz Asset Management GmbH now owns 170,514 shares of the company’s stock valued at $4,352,000 after buying an additional 84,680 shares during the last quarter. Institutional investors and hedge funds 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.