Coterra Energy (NYSE:CTRA) Price Target Raised to $33.00

Coterra Energy (NYSE:CTRA) had its price target lifted by Truist Financial from $31.00 to $33.00 in a research note released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

CTRA has been the subject of a number of other reports. Piper Sandler raised their price target on Coterra Energy from $32.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday. Mizuho lifted their price target on shares of Coterra Energy from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Scotiabank reduced their price objective on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley dropped their target price on Coterra Energy from $29.00 to $27.00 and set an “equal weight” rating for the company in a research report on Monday, September 16th. Finally, UBS Group reduced their price target on Coterra Energy from $34.00 to $31.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Two equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $32.41.

Coterra Energy Stock Performance

Shares of NYSE:CTRA opened at $25.58 on Thursday. The firm has a fifty day simple moving average of $23.95 and a two-hundred day simple moving average of $25.46. Coterra Energy has a 52 week low of $22.30 and a 52 week high of $28.90. The company has a quick ratio of 1.56, a current ratio of 1.61 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $18.84 billion, a P/E ratio of 15.41, a PEG ratio of 1.67 and a beta of 0.22.

Coterra Energy (NYSE:CTRA) last released 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 return on equity of 9.38% and a net margin of 21.91%. The company had revenue of $1.36 billion during the quarter, compared to analysts’ expectations of $1.28 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue was up .2% on a year-over-year basis. On average, analysts expect that Coterra Energy will post 1.53 earnings per share for the current fiscal year.

Coterra Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.28%. The ex-dividend date is Thursday, November 14th. Coterra Energy’s dividend payout ratio (DPR) is 50.60%.

Institutional Investors Weigh In On Coterra Energy

Several hedge funds have recently modified their holdings of CTRA. Fortitude Family Office LLC increased its holdings in Coterra Energy by 154.9% during the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock valued at $25,000 after buying an additional 567 shares during the period. Larson Financial Group LLC increased its holdings in shares of Coterra Energy by 98.0% in the 2nd quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock valued at $29,000 after acquiring an additional 535 shares during the period. Values First Advisors Inc. bought a new position in shares of Coterra Energy in the 3rd quarter worth $57,000. Tobam bought a new stake in Coterra Energy during the third quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC grew its stake in Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock valued at $64,000 after purchasing an additional 557 shares during the last quarter. Hedge funds and other institutional investors own 87.92% of the company’s stock.

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.