Coterra Energy (NYSE:CTRA) Reaches New 52-Week High After Analyst Upgrade

Shares of Coterra Energy Inc. (NYSE:CTRA - Get Free Report) reached a new 52-week high on Tuesday after Truist Financial raised their price target on the stock from $33.00 to $37.00. Truist Financial currently has a buy rating on the stock. Coterra Energy traded as high as $29.10 and last traded at $29.05, with a volume of 552051 shares traded. The stock had previously closed at $28.61.

Several other analysts have also weighed in on CTRA. Stephens boosted their target price on shares of Coterra Energy from $28.00 to $29.00 and gave the company an "overweight" rating in a research note on Friday, November 1st. Citigroup raised their target price on shares of Coterra Energy from $28.00 to $32.00 and gave the stock a "buy" rating in a report on Tuesday, November 26th. Susquehanna upped their target price on Coterra Energy from $30.00 to $33.00 and gave the company a "positive" rating in a report on Thursday, November 14th. Scotiabank cut their price target on Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating on the stock in a report on Thursday, October 10th. Finally, Piper Sandler lowered their price objective on Coterra Energy from $35.00 to $33.00 and set an "overweight" rating for the company in a research note on Tuesday, December 17th. Two investment 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.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $32.76.

Insider Buying and Selling

In other news, SVP Kevin William Smith sold 29,643 shares of the business's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $26.16, for a total transaction of $775,460.88. Following the sale, the senior vice president now directly owns 77,075 shares of the company's stock, valued at $2,016,282. The trade was a 27.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Adam M. Vela sold 16,435 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now owns 72,409 shares of the company's stock, valued at $1,937,664.84. This trade represents a 18.50 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Trading of Coterra Energy

A number of hedge funds have recently bought and sold shares of CTRA. City State Bank purchased a new position in shares of Coterra Energy during the fourth quarter valued at $26,000. AdvisorNet Financial Inc boosted its position in Coterra Energy by 192.2% during the 4th quarter. AdvisorNet Financial Inc now owns 1,131 shares of the company's stock worth $29,000 after acquiring an additional 744 shares during the period. Values First Advisors Inc. purchased a new position in Coterra Energy during the 3rd quarter valued at about $57,000. Tobam acquired a new position in shares of Coterra Energy in the 3rd quarter valued at about $63,000. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Coterra Energy in the third quarter worth approximately $67,000. 87.92% of the stock is owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

The firm's fifty day moving average is $25.75 and its 200 day moving average is $24.95. The firm has a market capitalization of $21.28 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.64 and a beta of 0.27. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.61 and a quick ratio of 1.56.

Coterra Energy (NYSE:CTRA - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The company had revenue of $1.36 billion for the quarter, compared to analysts' expectations of $1.28 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The company's revenue was up .2% on a year-over-year basis. On average, analysts predict that Coterra Energy Inc. will post 1.53 EPS for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Investors of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 2.91%. The ex-dividend date was Thursday, November 14th. Coterra Energy's payout ratio is presently 50.60%.

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.