Coterra Energy (NYSE:CTRA) Price Target Raised to $41.00

Coterra Energy (NYSE:CTRA) had its target price hoisted by Raymond James from $35.00 to $41.00 in a research note released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other research firms also recently issued reports on CTRA. Mizuho boosted their price objective on shares of Coterra Energy from $37.00 to $40.00 and gave the company an “outperform” rating in a report on Monday, December 16th. Stephens boosted their price target on Coterra Energy from $28.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, November 1st. UBS Group raised their price objective on Coterra Energy from $31.00 to $35.00 and gave the stock a “buy” rating in a research note on Friday, November 15th. Barclays lifted their price objective on Coterra Energy from $31.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, November 14th. Finally, Truist Financial increased their target price on Coterra Energy from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, January 13th. Two analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $33.18.

Coterra Energy Price Performance

Coterra Energy stock opened at $29.05 on Thursday. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 0.65 and a beta of 0.27. The company has a current ratio of 1.61, a quick ratio of 1.56 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 $29.95. The stock’s 50 day moving average is $26.43 and its 200-day moving average is $25.11.

Coterra Energy (NYSE:CTRA) last issued its quarterly earnings data on Thursday, October 31st. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.03). Coterra Energy had a net margin of 21.91% and a return on equity of 9.38%. The firm had revenue of $1.36 billion during the quarter, compared to analyst estimates of $1.28 billion. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. Equities research analysts expect that Coterra Energy will post 1.54 EPS for the current year.

Coterra Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 27th. Stockholders of record on Thursday, November 14th were paid a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a dividend yield of 2.89%. The ex-dividend date was Thursday, November 14th. Coterra Energy’s payout ratio is 50.60%.

Insider Buying and Selling

In other Coterra Energy news, SVP Adam M. Vela sold 16,435 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $26.76, for a total value of $439,800.60. Following the completion of the transaction, the senior vice president now directly owns 72,409 shares in the company, valued at approximately $1,937,664.84. This represents a 18.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Kevin William Smith sold 29,643 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $26.16, for a total transaction of $775,460.88. Following the transaction, the senior vice president now directly owns 77,075 shares of the company’s stock, valued at $2,016,282. The trade was a 27.78 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of CTRA. abrdn plc lifted its stake in shares of Coterra Energy by 2.8% in the fourth quarter. abrdn plc now owns 188,148 shares of the company’s stock worth $4,806,000 after acquiring an additional 5,188 shares during the period. Graham Capital Wealth Management LLC raised its stake in Coterra Energy by 12.1% during the fourth quarter. Graham Capital Wealth Management LLC now owns 93,675 shares of the company’s stock worth $2,392,000 after buying an additional 10,106 shares during the last quarter. CENTRAL TRUST Co lifted its holdings in Coterra Energy by 1.8% in the fourth quarter. CENTRAL TRUST Co now owns 21,881 shares of the company’s stock valued at $559,000 after buying an additional 389 shares during the period. WFA Asset Management Corp bought a new stake in Coterra Energy during the fourth quarter valued at $273,000. Finally, Berry Wealth Group LP bought a new position in shares of Coterra Energy in the 4th quarter worth about $287,000. 87.92% of the stock is owned by institutional investors and hedge funds.

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.