Coterra Energy (NYSE:CTRA) Lowered to “Neutral” Rating by Pickering Energy Partners

Coterra Energy (NYSE:CTRA) was downgraded by investment analysts at Pickering Energy Partners from an “outperform” rating to a “neutral” rating in a research note issued on Tuesday,Finviz reports.

CTRA has been the subject of several other research reports. Barclays dropped their price objective on Coterra Energy from $37.00 to $35.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Raymond James decreased their target price on shares of Coterra Energy from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 12th. Wells Fargo & Company increased their price objective on Coterra Energy from $35.00 to $36.00 and gave the stock an “overweight” rating in a research note on Monday, April 21st. Williams Trading set a $37.00 target price on Coterra Energy in a research report on Wednesday, March 5th. Finally, Morgan Stanley set a $28.00 price target on Coterra Energy in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Coterra Energy has a consensus rating of “Moderate Buy” and an average price target of $33.50.

Coterra Energy Stock Down 1.2%

Shares of NYSE:CTRA opened at $24.50 on Tuesday. The company has a market capitalization of $18.70 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 0.59 and a beta of 0.33. Coterra Energy has a 1 year low of $22.30 and a 1 year high of $29.95. The business’s 50-day moving average is $26.08 and its 200-day moving average is $26.43. 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) last released its quarterly earnings data on Monday, May 5th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.09. The firm had revenue of $924.00 million for the quarter, compared to analyst estimates of $1.92 billion. Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The business’s quarterly revenue was up 32.9% compared to the same quarter last year. During the same period last year, the firm earned $0.51 earnings per share. Equities research analysts predict that Coterra Energy will post 1.54 earnings per share for the current year.

Insider Buying and Selling

In other Coterra Energy news, SVP Kevin William Smith sold 25,733 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $29.09, for a total transaction of $748,572.97. Following the sale, the senior vice president now owns 106,114 shares in the company, valued at approximately $3,086,856.26. The trade was a 19.52% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael D. Deshazer sold 35,377 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $26.62, for a total transaction of $941,735.74. Following the sale, the senior vice president now directly owns 126,770 shares of the company’s stock, valued at $3,374,617.40. This represents a 21.82% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently made changes to their positions in CTRA. Dark Forest Capital Management LP purchased a new position in shares of Coterra Energy during the fourth quarter valued at $942,000. State of Tennessee Department of Treasury raised its holdings in shares of Coterra Energy by 7.1% during the fourth quarter. State of Tennessee Department of Treasury now owns 472,799 shares of the company’s stock worth $12,075,000 after acquiring an additional 31,425 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S acquired a new position in Coterra Energy in the 4th quarter worth about $641,000. Bourgeon Capital Management LLC raised its stake in shares of Coterra Energy by 107.0% during the 4th quarter. Bourgeon Capital Management LLC now owns 236,952 shares of the company’s stock worth $6,052,000 after purchasing an additional 122,487 shares in the last quarter. Finally, M.E. Allison & CO. Inc. acquired a new stake in shares of Coterra Energy during the 4th quarter valued at about $217,000. Hedge funds and other 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.