Coterra Energy (NYSE:CTRA) Coverage Initiated by Analysts at UBS Group

Posted by Defense World Staff on Apr 20th, 2023

UBS Group assumed coverage on shares of Coterra Energy (NYSE:CTRA – Get Rating) in a report released on Wednesday, The Fly reports. The brokerage issued a neutral rating and a $27.00 price target on the stock.

Several other brokerages also recently issued reports on CTRA. Truist Financial raised their price target on Coterra Energy from $26.00 to $29.00 and gave the company a hold rating in a report on Tuesday, April 11th. Stifel Nicolaus dropped their target price on Coterra Energy from $38.00 to $35.00 and set a buy rating for the company in a report on Wednesday, April 12th. Roth Capital reissued a neutral rating on shares of Coterra Energy in a report on Wednesday, February 22nd. Barclays lifted their target price on Coterra Energy from $26.00 to $30.00 and gave the stock an equal weight rating in a report on Friday, March 17th. Finally, Bank of America raised Coterra Energy from an underperform rating to a neutral rating and dropped their target price for the stock from $30.00 to $29.00 in a report on Friday, January 6th. Eighteen research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average price target of $29.94.

Coterra Energy Trading Down 0.2 %

Shares of Coterra Energy stock opened at $25.70 on Wednesday. The business has a fifty day simple moving average of $24.71 and a two-hundred day simple moving average of $26.01. Coterra Energy has a 1 year low of $22.25 and a 1 year high of $36.55. The company has a market capitalization of $19.67 billion, a price-to-earnings ratio of 5.03, a P/E/G ratio of 0.18 and a beta of 0.25. The company has a debt-to-equity ratio of 0.17, a current ratio of 1.85 and a quick ratio of 1.80.

Coterra Energy (NYSE:CTRA – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported $1.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.04. Coterra Energy had a return on equity of 31.29% and a net margin of 44.91%. The business had revenue of $2.28 billion during the quarter, compared to the consensus estimate of $2.15 billion. Research analysts forecast that Coterra Energy will post 2.55 EPS for the current year.

Coterra Energy Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 30th. Investors of record on Thursday, March 16th were given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date was Wednesday, March 15th. Coterra Energy’s payout ratio is currently 15.66%.

Insider Buying and Selling at Coterra Energy

In other Coterra Energy news, VP Michael D. Deshazer sold 20,824 shares of Coterra Energy stock in a transaction dated Tuesday, March 21st. The stock was sold at an average price of $24.10, for a total value of $501,858.40. Following the transaction, the vice president now owns 77,406 shares in the company, valued at $1,865,484.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTRA. Raymond James Financial Services Advisors Inc. bought a new position in Coterra Energy in the first quarter valued at about $1,267,000. D.A. Davidson & CO. acquired a new stake in shares of Coterra Energy during the first quarter valued at about $305,000. Yousif Capital Management LLC acquired a new stake in shares of Coterra Energy during the first quarter valued at about $3,011,000. Raymond James Trust N.A. acquired a new stake in shares of Coterra Energy during the first quarter valued at about $400,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new stake in shares of Coterra Energy during the first quarter valued at about $3,218,000. Institutional investors own 94.72% of the company’s stock.

About Coterra Energy

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Coterra Energy Inc is a diversified energy company, which engages in the exploration, development, and production of oil and natural gas properties. Its portfolio includes projects in the Permian Basin, the Marcellus Shale, and the Anadarko Basin. The company was renamed to Coterra Energy Inc on October 1, 2021 in connection with the merger involving Cabot Oil & Gas Corp.