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

Coterra Energy (NYSE:CTRA) had its price objective boosted by Morgan Stanley from $27.00 to $29.00 in a report published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

CTRA has been the subject of a number of other research reports. UBS Group decreased their target price on shares of Coterra Energy from $34.00 to $31.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Scotiabank decreased their target price on shares of Coterra Energy from $35.00 to $32.00 and set a “sector outperform” rating for the company in a research report on Thursday, October 10th. Wells Fargo & Company decreased their target price on shares of Coterra Energy from $34.00 to $32.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Truist Financial upped their price target on shares of Coterra Energy from $31.00 to $33.00 and gave the company a “buy” rating in a report on Thursday. Finally, Wolfe Research began coverage on shares of Coterra Energy in a report on Thursday, July 18th. They issued an “outperform” rating and a $35.00 price target for the company. Two analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Coterra Energy has a consensus rating of “Moderate Buy” and an average target price of $32.41.

Coterra Energy Stock Up 0.6 %

Coterra Energy stock opened at $25.58 on Thursday. The company has a 50-day simple moving average of $23.95 and a 200-day simple moving average of $25.46. The firm has a market capitalization of $18.84 billion, a P/E ratio of 15.41, a P/E/G ratio of 1.67 and a beta of 0.22. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.56 and a current ratio of 1.61. Coterra Energy has a one year low of $22.30 and a one year high of $28.90.

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). The firm had revenue of $1.36 billion for the quarter, compared to the consensus estimate of $1.28 billion. Coterra Energy had a return on equity of 9.38% and a net margin of 21.91%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.47 EPS. As a group, equities analysts expect that Coterra Energy will post 1.53 earnings per share for the current year.

Coterra Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th will be paid 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 is presently 50.60%.

Institutional Trading of Coterra Energy

Hedge funds have recently bought and sold shares of the company. Fortitude Family Office LLC lifted its position in shares of Coterra Energy by 154.9% in the second quarter. Fortitude Family Office LLC now owns 933 shares of the company’s stock worth $25,000 after purchasing an additional 567 shares in the last quarter. Larson Financial Group LLC lifted its position in shares of Coterra Energy by 98.0% in the second quarter. Larson Financial Group LLC now owns 1,081 shares of the company’s stock worth $29,000 after purchasing an additional 535 shares in the last quarter. Values First Advisors Inc. purchased a new stake in shares of Coterra Energy in the third quarter worth approximately $57,000. Tobam purchased a new stake in shares of Coterra Energy in the third quarter worth approximately $63,000. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Coterra Energy by 31.0% in the first quarter. EverSource Wealth Advisors LLC now owns 2,351 shares of the company’s stock worth $64,000 after purchasing an additional 557 shares in the last quarter. 87.92% of the stock is owned by hedge funds and other institutional investors.

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.