Coterra Energy (NYSE:CTRA) Price Target Cut to $26.00 by Analysts at JPMorgan Chase & Co.

Coterra Energy (NYSE:CTRA) had its price target cut by JPMorgan Chase & Co. from $31.00 to $26.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other analysts also recently commented on the stock. Susquehanna cut their price objective on shares of Coterra Energy from $33.00 to $30.00 and set a positive rating for the company in a report on Wednesday, September 4th. Wolfe Research started coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an outperform rating and a $35.00 price objective on the stock. Roth Capital upgraded shares of Coterra Energy from a hold rating to a strong-buy rating in a research note on Tuesday, August 27th. Roth Mkm upgraded shares of Coterra Energy from a neutral rating to a buy rating and lifted their price target for the stock from $25.00 to $29.00 in a research note on Tuesday, August 27th. Finally, BMO Capital Markets raised shares of Coterra Energy to a hold rating in a research report on Wednesday, July 3rd. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $32.88.

Coterra Energy Stock Performance

Shares of CTRA stock opened at $22.78 on Thursday. The business’s fifty day simple moving average is $24.77 and its 200-day simple moving average is $26.49. The company has a market cap of $16.95 billion, a PE ratio of 13.17, a PEG ratio of 1.16 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12-month low of $22.30 and a 12-month high of $29.89.

Coterra Energy (NYSE:CTRA) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing the consensus estimate of $0.39 by ($0.02). Coterra Energy had a net margin of 23.18% and a return on equity of 10.48%. The business had revenue of $1.27 billion during the quarter, compared to analysts’ expectations of $1.32 billion. During the same period in the previous year, the company posted $0.38 earnings per share. Coterra Energy’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts expect that Coterra Energy will post 1.95 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 29th. Stockholders of record on Thursday, August 15th were given a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date was Thursday, August 15th. Coterra Energy’s dividend payout ratio (DPR) is 48.55%.

Hedge Funds Weigh In On Coterra Energy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC grew its holdings in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after purchasing an additional 567 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in Coterra Energy during the 1st quarter worth about $44,000. Harbor Investment Advisory LLC lifted its position in Coterra Energy by 869.3% during the 1st quarter. Harbor Investment Advisory LLC now owns 1,609 shares of the company’s stock worth $45,000 after buying an additional 1,443 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Coterra Energy during the 1st quarter valued at about $47,000. Institutional investors own 87.92% of the company’s stock.

About Coterra Energy

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.