Coterra Energy (NYSE:CTRA) Trading 2% Higher – Should You Buy?

Coterra Energy Inc. (NYSE:CTRA)’s share price was up 2% during trading on Monday . The company traded as high as $25.18 and last traded at $25.14. Approximately 1,001,314 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 6,202,486 shares. The stock had previously closed at $24.64.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an “outperform” rating in a research note on Monday, December 16th. Wells Fargo & Company raised their price target on shares of Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Citigroup upped their target price on Coterra Energy from $28.00 to $32.00 and gave the company a “buy” rating in a research report on Tuesday, November 26th. Stephens boosted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. Finally, Piper Sandler decreased their target price on Coterra Energy from $35.00 to $33.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Two equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $32.53.

Coterra Energy Price Performance

The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56. The stock’s fifty day moving average price is $25.00 and its 200-day moving average price is $24.96. The firm has a market cap of $18.95 billion, a PE ratio of 15.50, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). The company had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. Coterra Energy’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 EPS. As a group, equities analysts expect that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a $0.21 dividend. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a yield of 3.26%. Coterra Energy’s payout ratio is currently 50.60%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total transaction of $439,800.60. Following the sale, the senior vice president now directly owns 72,409 shares in the company, valued at $1,937,664.84. This represents a 18.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Kevin William Smith sold 29,643 shares of the business’s stock in a transaction on Tuesday, December 3rd. The stock was 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 approximately $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 corporate insiders.

Hedge Funds Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cornercap Investment Counsel Inc. raised its holdings in Coterra Energy by 0.7% in the second quarter. Cornercap Investment Counsel Inc. now owns 66,280 shares of the company’s stock valued at $1,768,000 after acquiring an additional 436 shares in the last quarter. Bruce G. Allen Investments LLC raised its holdings in shares of Coterra Energy by 17.4% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 3,033 shares of the company’s stock valued at $73,000 after purchasing an additional 450 shares in the last quarter. Venturi Wealth Management LLC lifted its position in shares of Coterra Energy by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 33,559 shares of the company’s stock worth $804,000 after purchasing an additional 474 shares during the last quarter. SeaCrest Wealth Management LLC grew its stake in shares of Coterra Energy by 4.8% during the third quarter. SeaCrest Wealth Management LLC now owns 10,983 shares of the company’s stock worth $263,000 after purchasing an additional 505 shares in the last quarter. Finally, Signaturefd LLC increased its holdings in Coterra Energy by 8.4% in the second quarter. Signaturefd LLC now owns 6,557 shares of the company’s stock valued at $175,000 after buying an additional 507 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Company Profile

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.