Coterra Energy (NYSE:CTRA) Reaches New 12-Month High Following Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) hit a new 52-week high during mid-day trading on Tuesday after Truist Financial raised their price target on the stock from $33.00 to $37.00. Truist Financial currently has a buy rating on the stock. Coterra Energy traded as high as $29.10 and last traded at $29.05, with a volume of 552051 shares traded. The stock had previously closed at $28.61.

CTRA has been the subject of a number of other research reports. UBS Group boosted their price objective on shares of Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Citigroup lifted their price target on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, November 26th. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Stephens upped their price target on shares of Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, November 1st. Finally, Scotiabank lowered their price target on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.76.

Insider Buying and Selling

In related news, SVP Kevin William Smith sold 29,643 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,016,282. This represents a 27.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total transaction of $439,800.60. Following 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 position. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Large investors have recently bought and sold shares of the business. City State Bank purchased a new stake in Coterra Energy during the 4th quarter valued at about $26,000. AdvisorNet Financial Inc grew its stake in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company’s stock valued at $29,000 after acquiring an additional 744 shares in the last quarter. Values First Advisors Inc. purchased a new stake in Coterra Energy during the 3rd quarter valued at about $57,000. Tobam purchased a new stake in Coterra Energy during the 3rd quarter valued at about $63,000. Finally, Capital Performance Advisors LLP purchased a new stake in Coterra Energy during the 3rd quarter valued at about $67,000. Hedge funds and other institutional investors own 87.92% of the company’s stock.

Coterra Energy Stock Performance

The company has a market cap of $21.44 billion, a PE ratio of 17.53, a PEG ratio of 1.64 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. The firm’s 50 day moving average is $25.84 and its 200-day moving average is $24.98.

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 the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same period last year, the company earned $0.47 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, research analysts anticipate that Coterra Energy Inc. will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. The ex-dividend date was Thursday, November 14th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. Coterra Energy’s payout ratio is currently 50.60%.

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.