Coterra Energy Inc [NYSE: CTRA] slipped around -0.04 points on Friday, while shares priced at $28.32 at the close of the session, down -0.14%. The company report on February 28, 2024 at 5:39 PM that Coterra Energy Announces Pricing of Senior Unsecured Notes.
Coterra Energy Inc. (“Coterra”) (NYSE: CTRA) announced today that it has priced an offering of $500 million aggregate principal amount of senior unsecured notes due 2034, which will carry an interest rate of 5.60%. The offering is expected to close on March 13, 2024, subject to the satisfaction of customary closing conditions. This is Coterra’s first debt offering since transactions completed in connection with the merger of Cabot Oil & Gas Corporation and Cimarex Energy Co.
Coterra intends to use the net proceeds from the offering, together with cash on hand, to fund the repayment at, or prior to, maturity of the $575 million outstanding principal amount (and any other amounts due thereon) of its 3.67% Series L Senior Notes due September 18, 2024.
Compared to the average trading volume of 7.11M shares, CTRA reached a trading volume of 9923302 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Coterra Energy Inc [CTRA]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CTRA shares is $31.70 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CTRA stock is a recommendation set at 1.86. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Coterra Energy Inc shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 05, 2024. While these analysts kept the previous recommendation, Wells Fargo dropped their target price from $59 to $30. The new note on the price target was released on December 14, 2023, representing the official price target for Coterra Energy Inc stock. Previously, the target price had yet another drop from $33 to $31, while UBS kept a Buy rating on CTRA stock. On December 11, 2023, analysts increased their price target for CTRA shares from 28 to 30.
The Average True Range (ATR) for Coterra Energy Inc is set at 0.48, with the Price to Sales ratio for CTRA stock in the period of the last 12 months amounting to 3.79. The Price to Book ratio for the last quarter was 1.63, with the Price to Cash per share for the same quarter was set at 1.28. Price to Free Cash Flow for CTRA in the course of the last twelve months was 13.65 with Quick ratio for the last quarter at 1.18.
How has CTRA stock performed recently?
Coterra Energy Inc [CTRA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.58. With this latest performance, CTRA shares gained by 7.76% in over the last four-week period, additionally plugging by 9.64% over the last 6 months – not to mention a rise of 12.87% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CTRA stock in for the last two-week period is set at 71.87, with the RSI for the last a single of trading hit 75.41, and the three-weeks RSI is set at 68.10 for Coterra Energy Inc [CTRA]. The present Moving Average for the last 50 days of trading for this stock 26.07, while it was recorded at 28.27 for the last single week of trading, and 26.53 for the last 200 days.
Coterra Energy Inc [CTRA]: Deeper insight into the fundamentals
Coterra Energy Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.18 and a Current Ratio set at 1.21.
Earnings analysis for Coterra Energy Inc [CTRA]
With the latest financial reports released by the company, Coterra Energy Inc posted 0.87/share EPS, while the average EPS was predicted by analysts to be reported at 0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 24.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CTRA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Coterra Energy Inc go to 13.00%.
Insider trade positions for Coterra Energy Inc [CTRA]
The top three institutional holders of CTRA stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in CTRA stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in CTRA stock with ownership which is approximately 5.8386%.
