Coterra Energy Inc. (NYSE:CTRA) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Coterra Energy Inc. (NYSE:CTRAGet Free Report) have been assigned a consensus recommendation of “Moderate Buy” from the twenty research firms that are presently covering the company, MarketBeat reports. Four analysts have rated the stock with a hold recommendation, fifteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $33.3684.

A number of equities analysts have weighed in on CTRA shares. Pickering Energy Partners lowered Coterra Energy from an “outperform” rating to a “neutral” rating in a research report on Tuesday, May 20th. Raymond James Financial set a $38.00 target price on Coterra Energy and gave the stock an “outperform” rating in a research report on Friday, June 13th. Scotiabank reissued an “outperform” rating on shares of Coterra Energy in a research report on Friday, July 11th. Piper Sandler boosted their target price on Coterra Energy from $37.00 to $39.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Mizuho decreased their target price on Coterra Energy from $38.00 to $36.00 and set an “outperform” rating for the company in a research report on Tuesday, May 13th.

View Our Latest Research Report on Coterra Energy

Institutional Investors Weigh In On Coterra Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Coterra Energy by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 95,209,961 shares of the company’s stock worth $2,416,429,000 after acquiring an additional 2,872,288 shares in the last quarter. Wellington Management Group LLP boosted its stake in Coterra Energy by 15.3% in the 1st quarter. Wellington Management Group LLP now owns 83,631,117 shares of the company’s stock worth $2,416,939,000 after purchasing an additional 11,102,350 shares during the period. State Street Corp boosted its stake in Coterra Energy by 0.9% in the 2nd quarter. State Street Corp now owns 45,588,319 shares of the company’s stock worth $1,157,032,000 after purchasing an additional 386,526 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Coterra Energy by 5.9% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 26,800,493 shares of the company’s stock worth $680,197,000 after purchasing an additional 1,495,553 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Coterra Energy by 4.8% in the 2nd quarter. Geode Capital Management LLC now owns 20,685,670 shares of the company’s stock worth $522,936,000 after purchasing an additional 953,824 shares during the period. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

Shares of Coterra Energy stock opened at $24.09 on Friday. The stock has a market cap of $18.38 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 0.33 and a beta of 0.33. The firm’s 50-day moving average is $25.00 and its 200 day moving average is $25.89. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.13 and a quick ratio of 1.08.

Coterra Energy (NYSE:CTRAGet Free Report) last announced its quarterly earnings results on Monday, August 4th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $1.78 billion. Coterra Energy had a return on equity of 10.99% and a net margin of 23.80%. The business’s revenue for the quarter was up 54.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.37 EPS. Sell-side analysts anticipate that Coterra Energy will post 1.54 EPS for the current fiscal year.

Coterra Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Investors of record on Thursday, August 14th will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Thursday, August 14th. Coterra Energy’s dividend payout ratio is currently 42.11%.

About Coterra Energy

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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.

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Analyst Recommendations for Coterra Energy (NYSE:CTRA)

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