Coterra Energy (NYSE:CTRA) Trading 2% Higher - Time to Buy?

Coterra Energy Inc. (NYSE:CTRA - Get Free Report) was up 2% during mid-day trading on Monday . The stock traded as high as $25.18 and last traded at $25.14. Approximately 1,001,314 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 6,202,486 shares. The stock had previously closed at $24.64.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTRA shares. Wells Fargo & Company boosted their price objective on Coterra Energy from $32.00 to $35.00 and gave the company an "overweight" rating in a research report on Friday, November 15th. JPMorgan Chase & Co. reduced their price target on shares of Coterra Energy from $31.00 to $26.00 and set an "overweight" rating for the company in a report on Thursday, September 12th. Mizuho increased their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the stock an "outperform" rating in a report on Monday, December 16th. Scotiabank reduced their target price on shares of Coterra Energy from $35.00 to $32.00 and set a "sector outperform" rating for the company in a research note on Thursday, October 10th. Finally, Piper Sandler dropped their price target on shares of Coterra Energy from $35.00 to $33.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. Two analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $32.53.

Coterra Energy Stock Performance

The company's 50-day moving average price is $25.04 and its two-hundred day moving average price is $24.95. The company has a market cap of $18.80 billion, a P/E ratio of 15.37, a price-to-earnings-growth ratio of 1.64 and a beta of 0.27. The company has a current ratio of 1.61, a quick ratio of 1.56 and a debt-to-equity ratio of 0.16.

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

Coterra Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Thursday, November 14th. Coterra Energy's dividend payout ratio (DPR) is presently 50.60%.

Insider Activity

In other Coterra Energy news, SVP Kevin William Smith sold 29,643 shares of the business's stock in a transaction on Tuesday, December 3rd. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Adam M. Vela sold 16,435 shares of the firm's stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the sale, the senior vice president now directly owns 72,409 shares of the company's stock, valued at approximately $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 currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Coterra Energy by 1.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 22,156,361 shares of the company's stock worth $530,645,000 after purchasing an additional 305,626 shares during the period. Hartford Funds Management Co LLC acquired a new stake in shares of Coterra Energy during the 3rd quarter valued at $575,000. Barclays PLC lifted its holdings in shares of Coterra Energy by 3.1% during the 3rd quarter. Barclays PLC now owns 2,147,263 shares of the company's stock valued at $51,425,000 after buying an additional 64,753 shares during the last quarter. HITE Hedge Asset Management LLC increased its stake in shares of Coterra Energy by 406.3% during the 3rd quarter. HITE Hedge Asset Management LLC now owns 707,729 shares of the company's stock worth $16,950,000 after purchasing an additional 567,934 shares during the last quarter. Finally, Pine Valley Investments Ltd Liability Co raised its holdings in Coterra Energy by 37.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 122,725 shares of the company's stock valued at $2,939,000 after buying an additional 33,452 shares in the last quarter. 87.92% of the stock is owned by institutional investors and hedge funds.

Coterra Energy Company Profile

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.