Coterra Energy (NYSE:CTRA) Earns Buy Rating from Bank of America

Bank of America reissued their buy rating on shares of Coterra Energy (NYSE:CTRAFree Report) in a research report released on Friday morning, MarketBeat.com reports. They currently have a $34.00 price target on the stock.

A number of other research firms also recently weighed in on CTRA. Stifel Nicolaus cut their price target on Coterra Energy from $33.00 to $31.00 and set a buy rating on the stock in a research note on Friday, March 22nd. JPMorgan Chase & Co. lifted their price target on shares of Coterra Energy from $29.00 to $30.00 and gave the stock an overweight rating in a research report on Thursday, April 4th. Susquehanna increased their price objective on shares of Coterra Energy from $32.00 to $33.00 and gave the company a positive rating in a report on Tuesday, May 7th. Morgan Stanley lifted their target price on shares of Coterra Energy from $26.00 to $29.00 and gave the stock an equal weight rating in a report on Wednesday, April 17th. Finally, Citigroup raised their price target on Coterra Energy from $30.00 to $31.00 and gave the stock a buy rating in a research report on Friday, May 24th. One analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Coterra Energy currently has an average rating of Moderate Buy and a consensus target price of $33.93.

Check Out Our Latest Report on CTRA

Coterra Energy Trading Down 1.5 %

Shares of Coterra Energy stock opened at $26.73 on Friday. The stock has a market capitalization of $19.89 billion, a P/E ratio of 15.45 and a beta of 0.21. Coterra Energy has a 12-month low of $23.60 and a 12-month high of $29.89. The company has a quick ratio of 1.46, a current ratio of 1.49 and a debt-to-equity ratio of 0.16. The company has a 50-day simple moving average of $27.78 and a 200 day simple moving average of $26.46.

Coterra Energy (NYSE:CTRAGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported $0.50 earnings per share for the quarter, topping analysts’ consensus estimates of $0.41 by $0.09. The company had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.38 billion. Coterra Energy had a net margin of 23.34% and a return on equity of 10.75%. Research analysts expect that Coterra Energy will post 1.99 earnings per share for the current fiscal year.

Coterra Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 30th. Stockholders of record on Thursday, May 16th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 3.14%. The ex-dividend date was Wednesday, May 15th. Coterra Energy’s dividend payout ratio is 48.55%.

Insiders Place Their Bets

In other news, CAO Todd M. Roemer sold 55,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The stock was sold at an average price of $27.06, for a total transaction of $1,488,300.00. Following the sale, the chief accounting officer now owns 176,758 shares in the company, valued at approximately $4,783,071.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.70% of the company’s stock.

Institutional Trading of Coterra Energy

A number of hedge funds have recently modified their holdings of CTRA. HighTower Advisors LLC increased its position in shares of Coterra Energy by 58.7% in the third quarter. HighTower Advisors LLC now owns 195,281 shares of the company’s stock worth $5,274,000 after purchasing an additional 72,241 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Coterra Energy by 1.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 350,859 shares of the company’s stock valued at $9,491,000 after buying an additional 4,272 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Coterra Energy by 5.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 238,479 shares of the company’s stock worth $6,504,000 after acquiring an additional 11,679 shares in the last quarter. Aviva PLC increased its stake in Coterra Energy by 193.3% in the third quarter. Aviva PLC now owns 86,732 shares of the company’s stock valued at $2,346,000 after acquiring an additional 57,163 shares during the last quarter. Finally, Kestra Advisory Services LLC raised its position in Coterra Energy by 12.6% during the third quarter. Kestra Advisory Services LLC now owns 409,427 shares of the company’s stock valued at $11,075,000 after purchasing an additional 45,659 shares in the last quarter. Institutional investors and hedge funds own 87.92% of the company’s stock.

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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