Citigroup downgraded shares of Coterra Energy (NYSE:CTRA – Get Rating) from a buy rating to a neutral rating in a report released on Friday morning, MarketBeat Ratings reports. Citigroup currently has $27.00 target price on the stock, down from their prior target price of $40.00.
A number of other brokerages have also recently commented on CTRA. Raymond James lifted their price objective on shares of Coterra Energy from $31.00 to $42.00 and gave the stock an outperform rating in a research note on Monday, April 25th. Piper Sandler dropped their price objective on shares of Coterra Energy to $34.00 and set a na rating for the company in a research note on Wednesday, May 18th. Barclays lifted their price objective on shares of Coterra Energy from $35.00 to $41.00 and gave the stock an equal weight rating in a research note on Tuesday, June 14th. Susquehanna cut shares of Coterra Energy from a positive rating to a neutral rating and lifted their price objective for the stock from $26.00 to $32.00 in a research note on Monday, April 25th. Finally, Wells Fargo & Company lifted their price objective on shares of Coterra Energy from $31.00 to $37.00 and gave the stock an overweight rating in a research note on Monday, March 14th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Coterra Energy has an average rating of Hold and a consensus target price of $33.64.
CTRA opened at $26.35 on Friday. The stock has a market capitalization of $21.23 billion, a price-to-earnings ratio of 12.26, a PEG ratio of 0.12 and a beta of -0.22. The company has a fifty day moving average of $31.16 and a 200 day moving average of $25.99. Coterra Energy has a fifty-two week low of $14.28 and a fifty-two week high of $36.55. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.54 and a current ratio of 1.57.
Coterra Energy (NYSE:CTRA – Get Rating) last posted its earnings results on Monday, May 2nd. The company reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.18. Coterra Energy had a net margin of 35.13% and a return on equity of 24.79%. During the same quarter in the previous year, the business earned $0.36 earnings per share. On average, equities research analysts forecast that Coterra Energy will post 4.14 earnings per share for the current year.
The business also recently disclosed a None dividend, which was paid on Wednesday, May 25th. Investors of record on Friday, May 13th were issued a dividend of $0.60 per share. This is a positive change from Coterra Energy’s previous None dividend of $0.50. The ex-dividend date was Thursday, May 12th. This represents a yield of 1.8%. Coterra Energy’s dividend payout ratio (DPR) is presently 27.91%.
In related news, EVP Stephen P. Bell sold 36,327 shares of Coterra Energy stock in a transaction dated Tuesday, June 7th. The shares were sold at an average price of $35.41, for a total transaction of $1,286,339.07. Following the completion of the sale, the executive vice president now owns 351,436 shares in the company, valued at approximately $12,444,348.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Francis Brian Barron sold 10,000 shares of Coterra Energy stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $33.52, for a total transaction of $335,200.00. Following the sale, the senior vice president now owns 281,212 shares of the company’s stock, valued at approximately $9,426,226.24. The disclosure for this sale can be found here. Insiders have sold a total of 96,327 shares of company stock valued at $3,213,039 in the last quarter. 1.60% of the stock is currently owned by company insiders.
Several large investors have recently bought and sold shares of the company. Quent Capital LLC raised its holdings in shares of Coterra Energy by 20.4% in the 1st quarter. Quent Capital LLC now owns 4,506 shares of the company’s stock valued at $122,000 after purchasing an additional 762 shares in the last quarter. Capital Analysts LLC bought a new stake in shares of Coterra Energy in the 1st quarter valued at about $27,000. Larson Financial Group LLC bought a new stake in shares of Coterra Energy in the 1st quarter valued at about $28,000. BerganKDV Wealth Management LLC bought a new stake in shares of Coterra Energy in the 1st quarter valued at about $29,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Coterra Energy in the 1st quarter valued at about $29,000. Institutional investors and hedge funds own 93.40% of the company’s stock.
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.
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