Coterra Energy (NYSE:CTRA) Now Covered by Analysts at Wells Fargo & Company

Wells Fargo & Company initiated coverage on shares of Coterra Energy (NYSE:CTRAGet Rating) in a research report released on Tuesday morning, The Fly reports. The firm issued an equal weight rating on the stock.

Several other brokerages have also weighed in on CTRA. Citigroup lowered shares of Coterra Energy from a neutral rating to a sell rating and dropped their price objective for the company from $27.00 to $23.00 in a report on Wednesday, December 7th. Bank of America upgraded shares of Coterra Energy from an underperform rating to a neutral rating and lowered their target price for the stock from $30.00 to $29.00 in a report on Friday, January 6th. Tudor, Pickering, Holt & Co. lowered shares of Coterra Energy from a buy rating to a hold rating in a report on Wednesday, November 30th. Truist Financial lowered shares of Coterra Energy from a buy rating to a hold rating and set a $26.00 target price on the stock. in a report on Monday, December 12th. Finally, Morgan Stanley lowered their target price on shares of Coterra Energy from $31.00 to $28.00 and set an equal weight rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Coterra Energy currently has an average rating of Hold and an average price target of $32.20.

Coterra Energy Price Performance

Shares of NYSE CTRA opened at $25.20 on Tuesday. The firm’s 50-day moving average price is $25.50 and its 200-day moving average price is $27.78. Coterra Energy has a 1-year low of $19.26 and a 1-year high of $36.55. The firm has a market capitalization of $19.87 billion, a P/E ratio of 5.09, a P/E/G ratio of 0.13 and a beta of 0.25. The company has a current ratio of 1.66, a quick ratio of 1.62 and a debt-to-equity ratio of 0.17.

Coterra Energy (NYSE:CTRAGet Rating) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.39 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $2.43 billion. Equities research 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. Shareholders of record on Wednesday, November 16th were paid a $0.68 dividend. This is a positive change from Coterra Energy’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Tuesday, November 15th. This represents a $2.72 annualized dividend and a yield of 10.79%. Coterra Energy’s dividend payout ratio (DPR) is 12.12%.

Insider Buying and Selling at Coterra Energy

In other news, Director Hans Helmerich sold 5,000 shares of the stock in a transaction that occurred on Thursday, December 1st. The shares were sold at an average price of $27.64, for a total transaction of $138,200.00. Following the completion of the transaction, the director now directly owns 225,755 shares of the company’s stock, valued at approximately $6,239,868.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Sawtooth Solutions LLC grew its position in shares of Coterra Energy by 52.4% during the 3rd quarter. Sawtooth Solutions LLC now owns 29,397 shares of the company’s stock valued at $768,000 after acquiring an additional 10,104 shares during the period. Rockefeller Capital Management L.P. boosted its holdings in Coterra Energy by 912.6% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 111,218 shares of the company’s stock worth $2,903,000 after buying an additional 100,235 shares during the period. Commonwealth Equity Services LLC boosted its holdings in Coterra Energy by 17.2% in the 2nd quarter. Commonwealth Equity Services LLC now owns 105,921 shares of the company’s stock worth $2,731,000 after buying an additional 15,576 shares during the period. Simmons Bank boosted its holdings in Coterra Energy by 16.5% in the 2nd quarter. Simmons Bank now owns 102,361 shares of the company’s stock worth $2,640,000 after buying an additional 14,501 shares during the period. Finally, Checchi Capital Advisers LLC bought a new position in Coterra Energy in the 2nd quarter worth approximately $285,000. 94.72% of the stock is owned by institutional investors.

Coterra Energy Company Profile

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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. 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.

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Analyst Recommendations for Coterra Energy (NYSE:CTRA)

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