Coterra Energy (NYSE:CTRA) Given New $28.00 Price Target at Morgan Stanley

Coterra Energy (NYSE:CTRA – Get Rating) had its target price reduced by Morgan Stanley from $31.00 to $28.00 in a research report released on Tuesday morning, Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research analysts have also commented on CTRA. Raymond James dropped their price objective on shares of Coterra Energy from $42.00 to $36.00 and set an outperform rating for the company in a research note on Monday, October 24th. Jefferies Financial Group assumed coverage on shares of Coterra Energy in a research note on Wednesday, October 19th. They set a hold rating and a $32.00 price objective for the company. Stifel Nicolaus assumed coverage on shares of Coterra Energy in a research note on Tuesday, October 25th. They set a buy rating and a $40.00 price objective for the company. Bank of America raised shares of Coterra Energy from an underperform rating to a neutral rating and dropped their price objective for the stock from $30.00 to $29.00 in a research note on Friday, January 6th. Finally, Piper Sandler lowered their target price on shares of Coterra Energy from $33.00 to $31.00 and set a neutral rating for the company in a research note on Thursday, November 17th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Hold and a consensus target price of $32.20.

Coterra Energy Trading Down 2.2 %

CTRA stock opened at $25.20 on Tuesday. The firm has a fifty day moving average price of $25.50 and a 200 day moving average price of $27.78. Coterra Energy has a fifty-two week low of $19.26 and a fifty-two week high of $36.55. The company has a debt-to-equity ratio of 0.17, a quick ratio of 1.62 and a current ratio of 1.66. The firm has a market cap of $19.87 billion, a PE ratio of 5.09, a price-to-earnings-growth ratio of 0.13 and a beta of 0.25.

Coterra Energy (NYSE:CTRA – Get Rating) last posted its earnings results on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.05. Coterra Energy had a net margin of 44.15% and a return on equity of 29.82%. The firm had revenue of $2.52 billion during the quarter, compared to analyst estimates of $2.43 billion. Sell-side analysts anticipate that Coterra Energy will post 4.87 earnings per share for the current fiscal year.

Coterra Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 30th. Investors of record on Wednesday, November 16th were issued a $0.68 dividend. This is an increase from Coterra Energy’s previous quarterly dividend of $0.15. This represents a $2.72 annualized dividend and a dividend yield of 10.79%. The ex-dividend date of this dividend was Tuesday, November 15th. Coterra Energy’s payout ratio is presently 12.12%.

Insider Activity at Coterra Energy

In related news, Director Hans Helmerich sold 5,000 shares of Coterra Energy stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $27.64, for a total value of $138,200.00. Following the completion of the sale, the director now directly owns 225,755 shares in the company, valued at $6,239,868.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Coterra Energy

Large investors have recently added to or reduced their stakes in the company. Adirondack Trust Co. bought a new position in Coterra Energy in the fourth quarter worth about $25,000. Accurate Wealth Management LLC bought a new position in Coterra Energy in the fourth quarter worth about $28,000. Patriot Financial Group Insurance Agency LLC raised its holdings in Coterra Energy by 239.3% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 1,106 shares of the company’s stock worth $29,000 after purchasing an additional 780 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Coterra Energy by 100.3% in the second quarter. First Horizon Advisors Inc. now owns 1,164 shares of the company’s stock worth $30,000 after purchasing an additional 583 shares in the last quarter. Finally, Guardian Wealth Advisors LLC purchased a new stake in shares of Coterra Energy during the third quarter worth about $30,000. 94.72% of the stock is currently owned by institutional investors.

Coterra Energy Company Profile

(Get Rating)

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. It primarily focuses on the Marcellus Shale with approximately 177,000 net acres in the dry gas window of the play located in Susquehanna County, Pennsylvania.