Coterra Energy (NYSE:CTRA) Sees Large Volume Increase on Analyst Upgrade

Coterra Energy Inc. (NYSE:CTRA) shares saw unusually-high trading volume on Thursday after Mizuho raised their price target on the stock from $33.00 to $36.00. Mizuho currently has an outperform rating on the stock. Approximately 30,888,781 shares traded hands during trading, an increase of 190% from the previous session’s volume of 10,639,823 shares.The stock last traded at $25.8470 and had previously closed at $25.36.

A number of other analysts also recently issued reports on CTRA. Weiss Ratings restated a “hold (c)” rating on shares of Coterra Energy in a report on Monday, December 29th. Zacks Research upgraded Coterra Energy from a “strong sell” rating to a “hold” rating in a research report on Monday, December 1st. Morgan Stanley reduced their target price on Coterra Energy from $29.00 to $28.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 14th. Susquehanna decreased their price target on Coterra Energy from $32.00 to $31.00 and set a “positive” rating on the stock in a research note on Monday, October 20th. Finally, William Blair initiated coverage on Coterra Energy in a report on Wednesday, November 26th. They set an “outperform” rating and a $36.00 price target for the company. Sixteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Coterra Energy presently has an average rating of “Moderate Buy” and a consensus price target of $32.62.

Institutional Trading of Coterra Energy

A number of institutional investors and hedge funds have recently bought and sold shares of CTRA. Advisors Asset Management Inc. increased its stake in Coterra Energy by 0.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 60,796 shares of the company’s stock worth $1,438,000 after buying an additional 398 shares during the period. KLCM Advisors Inc. grew its stake in shares of Coterra Energy by 4.2% in the third quarter. KLCM Advisors Inc. now owns 9,855 shares of the company’s stock worth $233,000 after acquiring an additional 400 shares in the last quarter. Pinnacle Associates Ltd. increased its position in shares of Coterra Energy by 2.8% during the third quarter. Pinnacle Associates Ltd. now owns 15,336 shares of the company’s stock worth $363,000 after acquiring an additional 415 shares during the period. Profund Advisors LLC raised its stake in shares of Coterra Energy by 1.4% in the third quarter. Profund Advisors LLC now owns 30,969 shares of the company’s stock valued at $732,000 after acquiring an additional 418 shares in the last quarter. Finally, AAFMAA Wealth Management & Trust LLC raised its stake in shares of Coterra Energy by 1.0% in the third quarter. AAFMAA Wealth Management & Trust LLC now owns 43,009 shares of the company’s stock valued at $1,017,000 after acquiring an additional 429 shares in the last quarter. 87.92% of the stock is currently owned by hedge funds and other institutional investors.

Coterra Energy Stock Performance

The stock has a market capitalization of $19.59 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 0.45 and a beta of 0.36. The company has a quick ratio of 0.98, a current ratio of 1.02 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average of $26.06 and a 200-day moving average of $24.75.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.02). The company had revenue of $1.82 billion for the quarter, compared to analysts’ expectations of $1.83 billion. Coterra Energy had a return on equity of 11.23% and a net margin of 23.25%.Coterra Energy’s revenue for the quarter was up 33.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.32 EPS. Equities analysts anticipate that Coterra Energy Inc. will post 1.54 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 3.4%. The ex-dividend date was Thursday, November 13th. Coterra Energy’s payout ratio is 40.55%.

Coterra Energy Company Profile

Coterra Energy (NYSE: CTRA) is an independent oil and natural gas exploration and production company focused on the development, production and optimization of onshore hydrocarbon resources in the United States. The company’s operations center on the exploration, drilling, completion and production of crude oil, natural gas and natural gas liquids (NGLs), with an emphasis on maximizing operational efficiency and capital discipline across its asset base.

Its business activities include identifying and developing resource-rich acreage, operating producing wells, managing reservoir performance and marketing produced hydrocarbons to a range of midstream and energy customers.