Coterra Energy (NYSE:CTRA) Price Target Cut to $32.00 by Analysts at Susquehanna

Coterra Energy (NYSE:CTRA) had its price objective trimmed by Susquehanna from $34.00 to $32.00 in a research report released on Tuesday morning,Benzinga reports. The firm currently has a positive rating on the stock.

Several other equities analysts have also issued reports on CTRA. Piper Sandler lifted their price target on Coterra Energy from $34.00 to $37.00 and gave the stock an “overweight” rating in a research report on Thursday, March 6th. Truist Financial upped their target price on shares of Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, January 13th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $36.00 to $33.00 and set an “overweight” rating for the company in a research report on Thursday, March 13th. Johnson Rice raised Coterra Energy from a “hold” rating to an “accumulate” rating and upped their price objective for the company from $34.00 to $37.00 in a research report on Wednesday, March 12th. Finally, The Goldman Sachs Group lifted their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Three equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $34.05.

Coterra Energy Stock Up 1.2 %

CTRA stock opened at $25.11 on Tuesday. The business has a 50 day moving average of $27.03 and a 200 day moving average of $26.33. The firm has a market cap of $19.19 billion, a PE ratio of 15.13, a price-to-earnings-growth ratio of 0.59 and a beta of 0.47. Coterra Energy has a twelve month low of $22.30 and a twelve month high of $29.95. 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 Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 27th. Shareholders of record on Thursday, March 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend was Thursday, March 13th. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.21. Coterra Energy’s payout ratio is currently 58.28%.

Insider Transactions at Coterra Energy

In other news, SVP Kevin William Smith sold 25,733 shares of the firm’s stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now directly owns 106,114 shares in the company, valued at $3,086,856.26. This trade represents a 19.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of Coterra Energy stock in a transaction on Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the transaction, the senior vice president now owns 126,770 shares in the company, valued at approximately $3,374,617.40. This trade represents a 21.82 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in CTRA. City State Bank bought a new stake in shares of Coterra Energy during the fourth quarter valued at approximately $26,000. AdvisorNet Financial Inc increased its holdings in Coterra Energy by 192.2% in 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 during the last quarter. MCF Advisors LLC increased its holdings in Coterra Energy by 230.5% in the 4th quarter. MCF Advisors LLC now owns 1,246 shares of the company’s stock valued at $32,000 after acquiring an additional 869 shares during the last quarter. R Squared Ltd bought a new position in shares of Coterra Energy during the 4th quarter valued at about $32,000. Finally, Investors Research Corp grew its position in shares of Coterra Energy by 45.2% during the first quarter. Investors Research Corp now owns 1,311 shares of the company’s stock valued at $38,000 after purchasing an additional 408 shares in the last quarter. 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.