Stephens Increases Coterra Energy (NYSE:CTRA) Price Target to $29.00

Coterra Energy (NYSE:CTRA) had its price target boosted by Stephens from $28.00 to $29.00 in a research report sent to investors on Friday, Benzinga reports. They currently have an overweight rating on the stock.

A number of other equities research analysts have also commented on the company. Wolfe Research assumed coverage on Coterra Energy in a research report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 target price on the stock. Mizuho upped their price objective on shares of Coterra Energy from $36.00 to $37.00 and gave the company an “outperform” rating in a report on Friday. Roth Capital raised shares of Coterra Energy from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 27th. Piper Sandler lowered their price target on shares of Coterra Energy from $39.00 to $31.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Susquehanna cut their price target on Coterra Energy from $33.00 to $30.00 and set a “positive” rating on the stock in a research report on Wednesday, September 4th. Two investment 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 company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $31.24.

Coterra Energy Trading Down 5.1 %

NYSE:CTRA opened at $22.71 on Friday. The company has a market capitalization of $16.79 billion, a P/E ratio of 13.68, a PEG ratio of 1.47 and a beta of 0.22. The company has a current ratio of 1.40, a quick ratio of 1.38 and a debt-to-equity ratio of 0.16. Coterra Energy has a 12 month low of $22.30 and a 12 month high of $28.90. The firm has a fifty day simple moving average of $23.79 and a 200-day simple moving average of $25.68.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.39 by ($0.02). The firm had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.32 billion. Coterra Energy had a return on equity of 9.37% and a net margin of 21.91%. The business’s revenue was up 7.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.38 EPS. On average, equities research analysts anticipate that Coterra Energy will post 1.62 earnings per share for the current year.

Coterra Energy Announces Dividend

The business also recently disclosed 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 3.70%. The ex-dividend date of this dividend is Thursday, November 14th. Coterra Energy’s dividend payout ratio is presently 50.60%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CTRA. Wealth Quarterback LLC increased its stake in Coterra Energy by 4.3% during the 3rd quarter. Wealth Quarterback LLC now owns 31,694 shares of the company’s stock worth $759,000 after buying an additional 1,319 shares in the last quarter. Assetmark Inc. increased its position in shares of Coterra Energy by 11.7% during the third quarter. Assetmark Inc. now owns 93,849 shares of the company’s stock worth $2,248,000 after purchasing an additional 9,840 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Coterra Energy during the third quarter worth approximately $67,000. Summit Global Investments acquired a new position in Coterra Energy in the 3rd quarter valued at $621,000. Finally, Verity Asset Management Inc. lifted its holdings in Coterra Energy by 1.5% in the 3rd quarter. Verity Asset Management Inc. now owns 53,273 shares of the company’s stock valued at $1,276,000 after purchasing an additional 778 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.